Numismatica Ars Classica
Auction 126 17 Nov 2021
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Phaestus
Stater circa 300-270, AR 11.78 g. Heracles advancing r., raising club and fighting Hydra. Rev. ΦAIΣTIΩ[N] retrograde Cretan bull advancing r. Svoronos, Crète 54 and pl. 24, 17 var. (legend not retrograde, but this obverse die). SNG Lockett 2591 (legend not retrograde, but this obverse die). Le Rider, Monnaies Crètoises 60 and pl. XXIII, 23 (these dies).
Very rare and in exceptional condition for the issue, undoubtedly among the finest
specimens known. Struck on an exceptionally, and unusually, fresh metal for
the issue. Superb light iridescent tone, two hairline flan-cracks and
an invisible die shift on obverse, otherwise good extremely fine
Ex Morton & Eden sale 51, 2011, Exceptional Greek Coins, 127. Privately purchased from Spink in June 1965.
In the early history of the Greeks the island of Crete was of great importance: not only did tradition identify it as the birthplace of Zeus, but the island's Minoan culture was one of the earliest literate civilizations of Greece. Unfortunately, the early Minoan culture had suffered nearly complete destruction by 1200 B.C. and the island never recovered its former Bronze Age glory. Even after Greece emerged from its Dark Age, Crete was underdeveloped. Indeed, the Cretans did not strike their first coins until at least a century after their trading partners in Central Greece. With a distinctive culture and relative isolation, however, it was certain that when the Cretans began to produce coinage, something intriguing would result. Probably the main reason the Cretans had not issued coins earlier in their history was because they had no indigenous sources of gold and silver so they had to rely entirely on external sources. Before the time of Alexander III the main supply of coin silver was the 'turtles' of Aegina, the powerful maritime state which had established a colony on Crete at Cydonia. Most early Cretan coins are overstruck on Aegina 'turtles' and then later Cretan coins often are overstruck on the earlier Cretan coins, thus producing a third generation of coinage from one planchet. In this respect Crete was truly an island economy, as there was intensive recycling of coinage and little evidence for the export of its own coin types. With the decline of Aegina, and the rise of the Macedonian Kingdom under Philip II and Alexander III, many new coin types were imported to Crete. Fuelled by a need to replace the dwindling supply of 'turtles', and inspired by the return of Cretan mercenaries from abroad with pay in hand, Crete was poised for a quantum leap in its coinage. The most prolific Cretan issues were struck at 28 mints in the period 330-280/70 B.C., made possible by the campaigns of Alexander and the wars of his successors, all of which provided wealth and opportunity for Cretan mercenaries. Many Cretan issues are either remarkably original or blatantly imitative of other Greek coins. The level of artistry employed varied so greatly as to contain true masterpieces and barbaric atrocities with inscriptions that often are retrograde. This is equalled in no other area of Greek numismatics and is one of the most engaging aspects of the island's coinage. The most remarkable engraving on Crete was done for the city of Phaestus, which produced a series of tetradrachms of great artistry and typology during the first 50 years of the Hellenistic period. The reverses – as here – usually show a bull, but the obverses depict a variety of subjects, including the local hero Velchanus, a naked, winged male figure (Talus) holding two round stones and Heracles seated or attacking, as here, the Lernean Hydra.
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Stater circa 300-270, AR 11.78 g. Heracles advancing r., raising club and fighting Hydra. Rev. ΦAIΣTIΩ[N] retrograde Cretan bull advancing r. Svoronos, Crète 54 and pl. 24, 17 var. (legend not retrograde, but this obverse die). SNG Lockett 2591 (legend not retrograde, but this obverse die). Le Rider, Monnaies Crètoises 60 and pl. XXIII, 23 (these dies).
Very rare and in exceptional condition for the issue, undoubtedly among the finest
specimens known. Struck on an exceptionally, and unusually, fresh metal for
the issue. Superb light iridescent tone, two hairline flan-cracks and
an invisible die shift on obverse, otherwise good extremely fine
Ex Morton & Eden sale 51, 2011, Exceptional Greek Coins, 127. Privately purchased from Spink in June 1965.
In the early history of the Greeks the island of Crete was of great importance: not only did tradition identify it as the birthplace of Zeus, but the island's Minoan culture was one of the earliest literate civilizations of Greece. Unfortunately, the early Minoan culture had suffered nearly complete destruction by 1200 B.C. and the island never recovered its former Bronze Age glory. Even after Greece emerged from its Dark Age, Crete was underdeveloped. Indeed, the Cretans did not strike their first coins until at least a century after their trading partners in Central Greece. With a distinctive culture and relative isolation, however, it was certain that when the Cretans began to produce coinage, something intriguing would result. Probably the main reason the Cretans had not issued coins earlier in their history was because they had no indigenous sources of gold and silver so they had to rely entirely on external sources. Before the time of Alexander III the main supply of coin silver was the 'turtles' of Aegina, the powerful maritime state which had established a colony on Crete at Cydonia. Most early Cretan coins are overstruck on Aegina 'turtles' and then later Cretan coins often are overstruck on the earlier Cretan coins, thus producing a third generation of coinage from one planchet. In this respect Crete was truly an island economy, as there was intensive recycling of coinage and little evidence for the export of its own coin types. With the decline of Aegina, and the rise of the Macedonian Kingdom under Philip II and Alexander III, many new coin types were imported to Crete. Fuelled by a need to replace the dwindling supply of 'turtles', and inspired by the return of Cretan mercenaries from abroad with pay in hand, Crete was poised for a quantum leap in its coinage. The most prolific Cretan issues were struck at 28 mints in the period 330-280/70 B.C., made possible by the campaigns of Alexander and the wars of his successors, all of which provided wealth and opportunity for Cretan mercenaries. Many Cretan issues are either remarkably original or blatantly imitative of other Greek coins. The level of artistry employed varied so greatly as to contain true masterpieces and barbaric atrocities with inscriptions that often are retrograde. This is equalled in no other area of Greek numismatics and is one of the most engaging aspects of the island's coinage. The most remarkable engraving on Crete was done for the city of Phaestus, which produced a series of tetradrachms of great artistry and typology during the first 50 years of the Hellenistic period. The reverses – as here – usually show a bull, but the obverses depict a variety of subjects, including the local hero Velchanus, a naked, winged male figure (Talus) holding two round stones and Heracles seated or attacking, as here, the Lernean Hydra.
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