Phoenix (currency)

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Phoenix
φοίνιξ (Greek)
Silver one-phoenix coin, minted in Aegina by Count Ioannis Kapodistrias. Dated 1828. Obverse: phoenix rising from the ashes below a cross, symbol of the newly reborn Orthodox Christian Greek state, inscription 'ΕΛΛΗΝΙΚΗ ΠΟΛΙΤΕΙΑ' ('Hellenic State'). The letters αωκα represent 1821, the date of the Greek Declaration of Independence, in the Ancient Greek numeral system. The small anchor was the Aegina mint mark. Reverse: denomination '1 ΦΟΙΝΙΞ' ( '1 phoenix') inscription: 'ΚΥΒΕΡΝΗΤΗΣ Ι.Α. ΚΑΠΟΔΙΣΤΡΙΑΣ' ('Governor I.A. Kapodistrias')
Denominations
Subunit
 1⁄100Lepton (Λεπτόν)
Plural
 Lepton (Λεπτόν)Lepta (Λεπτά)
Demographics
Date of introduction1828
Replaced byDrachma
User(s)Greece
Issuance
Central bankGreece
This infobox shows the latest status before this currency was rendered obsolete.
Twenty-lepta coin
State note for fifty phoenixes

The phoenix (

mythical phoenix bird and was meant to symbolize the rebirth of Greece during the still ongoing Greek War of Independence. The phoenix replaced the Ottoman kuruş
(called grosi γρόσι, plural γρόσια grosia by the Greeks) at a rate of 6 phoenixes = 1 kuruş.

Introduction

The creation of a national currency was one of the most pressing issues for the newborn Greek state, so that the monetary chaos reigning in the country could subside. Prior to the Phoenix's introduction, transactions were settled with a wide variety of coins, including the kuruş; coins from major European states, such as France, Britain, Russia and Austria, were also popular. Therefore, minting the phoenix was one of Governor Kapodistrias' greatest priorities, and he signed a decree authorising it on 12 April 1828. The Russian Imperial government lent Kapodistrias' administration 1.5 million roubles to start the project.

Minting the Phoenix

Kapodistrias made Alexandros Kontostavlos responsible for minting the Phoenix. Kontostavlos travelled to Malta, where he negotiated the purchase of several coin presses, originally owned by the Knights Hospitaller. The machines were brought to Aegina.

The dies for the Phoenix were carved by

Alexander Ypsilanti's Sacred Band. On 30 June 1829 the National Mint was founded, and production of coins continued. 1 October 1829 was set as the official launch date for the new currency. All phoenixes were minted at the National Mint of Aegina, which continued to operate until 1833. Coincidentally, Aegina is where the first ancient and modern Greek coins were minted – the staters of Aegina were minted in around 700 BC and were the first to circulate in the Ancient Greek world.[1]

Demise

Only a small number of coins were minted, estimated to just under twelve thousand

King of Greece, the currency system was reformed and the Drachma
was introduced to replace the Phoenix at par - 1 Drachma = 1 Phoenix.

References

  1. ISBN 960-91397-3-6
    .
  2. ^ L. Krause, A. Karamitsos.

External links
Wikimedia Commons has media related to Phoenix (Greek currency).
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