KINGS of MACEDON. Alexander I. 498-454 BC. AR Oktadrachm (28.5mm, 27.30 g). Aigai mint. Struck circa 492-480/79 BC. Horseman, wearing chlamys and petasos, and holding two spears, standing right behind horse, with kerykeion on its rump, advancing right / Quadripartite incuse square. Raymond pl. II, 5–6; AMNG III p. 49, 7 (Bisaltai); HPM pl. XII, 1 (Bisaltai); SNG ANS 1 var. (no kerykeion); Boston MFA 617 (Bisaltai); Gillet 739 var. (no kerykeion); Pozzi 696 = Rhousopoulos 1006 (Bisaltai); Weber 1847 (Bisaltai); Kastner 4, lot 29 (same obv. die). Lightly toned, minor double strike. EF.
From the Jonathan P. Rosen Collection. Ex Lanz 159 (8 December 2014), lot 82.
This coin type had long been ascribed to the Bisaltai, one of the powerful Thraco-Macedonian tribes that struck coinage in the late 6th and early 5th centuries. The weight of the evidence now points to it being the earliest issue of Alexander I, when he was allied with the tribes against the Persians; he presumably struck coins with types that were acceptable to his allies and would, in fact, symbolize their alliance.