Achaemenid coinage

The

Early coinage of Western Asia under the Achaemenid Empire

When Cyrus the Great (550–530 BC) came to power, coinage was unfamiliar in his realm. Barter, and to some extent silver bullion, was used instead for trade.^[7] The practice of using silver bars for currency also seems to have been current in Central Asia from the 6th century.^[8]

Cyrus the Great introduced coins to the Persian Empire after 546 BC, following his conquest of

It seems that Cyrus initially adopted the Lydian coinage as such, and continued to strike Lydia's lion-and-bull Croeseid coinage.^[7] The stater coins had a weight of 10.7 grams, a standard initially created by Croesus, which was then adopted by the Persians and became commonly known as the "Persic standard".^[9] The Persians also minted posthumous Croeseid half-staters, with a weight of 5.35 g, which would become the weight standard for the later Sigloi, introduced at the end of the 6th century BC.^[9][10]

Soon after 546, Cyrus also had full control of

• 
  Coin of Phaselis, Lycia. Circa 550-530/20 BC
• 
  Coin of Lycia. Circa 520-470/60 BC
• 
  Lycia coin. Circa 520-470 BC. Struck with worn obverse die^[16]
• 
  Coin of Lesbos, Ionia. Circa 510-480 BC
• 
  Lycia coin, with lion and Pegasus in circle, circa 480-460 BC

Apadana hoard (c.515 BC)

Coin types of the Apadana hoard

Gold Croeseids

Aegina stater

Abdera coin

As late as the time of the foundation of the

The coinage of the Achaemenid Empire started to move away from simply copying Lydian coinage, to introducing changes with the reign of

According to numismat Martin Price, there is no doubt that the Darics and Sigloi of Types I and II were minted at Sardis and immediately followed the production of the Croeseids, since they adopted similar weights and were of the same fabric.^[21] He insists that the finds of the Croeseids and the "Archer" types of Darics and Sigloi indicate that they were not an Imperial coinage, but rather the coinage of the Satrapy of Lydia.^[21]

Minting activity

Sardis

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Throughout the period of the Achaemenid Empire, it seems the Darics and Sigloi were exclusively minted in Sardis, Lydia (modern Turkey), where they replaced the original production of the Croeseids.^[22]

Although the Achaemenids fully exploited and developed coinage production in Western Asia, it seems

Overall, it seems that the minting of Darics and Sigloi was rather small in quantity compared to the other local productions of coins in Asia Minor, or the circulation of Greek coins in the area.[25] Although the gold Daric became an international currency which was found throughout the Ancient world, the circulation of the silver Sigloi remained very much limited to Asia Minor: important hoards of Sigloi are only found in these areas, and finds of Sigloi beyond are always very limited and marginal compared to Greek coins, even in Achaemenid territories.^[22]

Standards

Darius introduced the reformed

Although the area of Babylon had never minted Darics or Sigloi, after the capture of Babylon by Alexander, the Satrap Mazaeus, reconfirmed by Alexander in his position for having opened the doors of Babylon to his armies after the Battle of Gaugamela, issued the double Daric of 16.65 grams in weight whose image was based on the Daric coin and bore his name until his death in 328 BC.^[30]

• 
  Siglos Type I ("King with bow and arrows"), from the time of Darius I. Circa 520-505 BC
• 
  Siglos Type II ("King shooting arrow"), time of Darius I to Xerxes I, circa 505-480 BC
• 
  Siglos Type III ("King running with lance"), from the time of Xerxes and after.
• 
  Siglos Type IV ("King running with dagger"), temp. Artaxerxes II to Artaxerxes III, circa 375-340 BC.

• 
  Type II Daric ("King shooting arrow") temp. Darios I to Xerxes I. Circa 505-480 BC.^[26]
• 
  Daric Type III ("King running with lance") gold coin (mid-4th century BC)
• 
  Daric Type IV ("King running with dagger"), temp. Artaxerxes II to Artaxerxes III, circa 375-340 BC. (15mm, 8.33 g)
• 
  Double Daric minted, well after the conquests of Alexander the Great, in Babylon circa 322-315 BC.

Design

In effect, the gold Daric became a currency desired in all the ancient world, since it was the most convenient format to exchange and accumulate wealth.^[23] The Greeks never minted much gold, but their silver Athenian tetradrachms also became a sort of world currency from the 5th century BC.^[23] The first important competition against the prestigious Daric, as a means of storing wealth and making large payments on an international scale, came later from Philip II of Macedon (ruled 359–336 BC), when he issued his own gold coinage, pointedly called Dareikos Philippeios by the Greeks.^[23]

Archaeological finds

In all the known hoards of the Achaemenid period, royal Achaemenid coinage, such as the sigloi, form actually a small minority, while most of the non-local coinage generally comes from the Greek realm, either from the independent Greek mainland or from the Greek colonies of Western Asia under the Achaemenid rule.

The fact that Greek coins (both Archaic and early Classical) are comparatively numerous in Achaemenid period coin hoards, much more numerous than sigloi, suggests that the circulation of Greek coinage was central in the monetary system of the Empire.^[36] These coins were probably not legal tenders in the Achaemenid Empire, but were valued for their weight in silver, and thus used as bullion silver. Numerous finds of hacksilber hoards in the East also exist from the period, in which various silver objects, including coins, are cut into pieces, in order to facilitate their exchange on the basis of their weight.^[37]

Greek coinage travelled throughout the Achaemenid Empire. For example, the Greek coins discovered in the Kabul hoard include the following types:

• 
  Archaic coin of Thasos, circa 500-463 BC.^[38]
• 
  Archaic coin of Chios, circa 490-435 BC.^[39] Earlier types known.
• 
  Coin of

  Macedon. Circa 470-430 BC.^[40][41]
• 
  Early Classical coins from Athens were by far the most numerous coin type in the Kabul hoard. Circa 454-404 BC.^[42][41]

Coinage of Southern Asia under the Achaemenid Empire

According to numismatist Joe Cribb, these finds suggest that the idea of coinage and the use of punch-marked techniques was introduced to India from the Achaemenid Empire during the 4th century BC.^[50] More Achaemenid coins were also found in Pushkalavati and in Bhir Mound.^[51][52]

• 
  Punch-marked coin minted in the Kabul Valley under Achaemenid administration. Circa 500-380 BC, or c.350 BC.^[53][47]
• 
  A siglos found in the Kabul valley, 5th century BC. Coins of this type were also found in the Bhir Mound hoard.^[54][47]
• 
  Early punch-marked coins of Gandhara. Taxila-Gandhara region.

Later Satrapal issues

During the 4th century, following the weakening of central Achaemenid power, and the development of coinage technologies, Siglos production receded and numerous satrapal issues of a very high quality started to appear in Western Asia under the Achaemenid Empire.^[25] These issues combined Achaemenid as well as Greek characteristics. Throughout, coin circulation was characterized by a mix of coins from the Achaemenid and Greek realms.^[25]

Various Achaemenid satraps also issued imitations of Athenian tetradrachms, such as

• 
  Coin of

  Magnesia

  . Rev: Letters ΘΕ, initials of Themistocles. Circa 465-459 BC
• 
  Baaltars on a throne (obverse) and head of Ares (reverse), on a double shekel of Pharnabazus II (380-375 BC)
• 
  Coin of Perikles, last king of Lycia under the Achaemenids. Circa 380-360 BC
• 
  Western Asia Satrap of the Achaemenid Period. Probably

  Tiribazos

  . Early 4th century BC

After the conquests of Alexander the Great

Even many years after the death of Alexander, Achaemenid gold darics continued to be minted in Babylon, at the same time as Alexandrine imperial issues were minted. Some of these issues are dated to circa 315-300/298 BC. These darics continued to use the Achaemenid type, but the reverse was slightly modified to include wavy patterns.^[62][63]

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References

Bibliography

• Bopearachchi, Osmund (2000), "Coin Production and Circulation in Central Asia and North-West India (Before and after Alexander's Conquest)", Indologica Taurinensia, 25, International Association of Sanskrit Studies
• Bopearachchi, Osmund (2017), "Achaemenids and Mauryans: Emergence of Coins and Plastic Arts in India", in Alka Patel; Touraj Daryaee (eds.), India and Iran in the Longue Durée, UCI Jordan Center for Persian Studies, pp. 15–48
• ISBN 978-0-9518399-1-1
• Cribb, Joe (1983), "Investigating the introduction of coinage in India - A review of recent research", Journal of the Numismatic Society of India: 80–101
• Cribb, J. (1985), "Dating India's Earliest Coins", in J. Schotsmans; M. Taddei (eds.), South Asian Archaeology, 1983: Proceedings from the Seventh International Conference of the Association of South Asian Archaeologistan in Westeren Europe Held in the Musees Royaux d'art et d'histoire, Brussels, Naples: Istituto Universario Orientale, pp. 535–554
• Eggermont, Pierre Herman Leonard (1975), Alexander's Campaigns in Sind and Baluchistan and the Siege of the Brahmin Town of Harmatelia, Peeters Publishers,
  ISBN 978-90-6186-037-2
• Kagan, J. (2009), "Archaic Greek Coins East of the Tigris: Evidence for Circulation" (PDF), Proceedings of the XIVth International Numismatic Congress, Glasgow, pp. 230–234^{[permanent dead link]}

External links

Wikimedia Commons has media related to Achaemenid coins.

• Zeno coins of Iran
• Daric information
• Money weights and measures in Antiquity including Babylonian Archived 2018-03-11 at the Wayback Machine
• Persian coins and Satraps coins
• Asia Minor Coins - Achaemenid Satraps and Governors