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Roma Numismatics Ltd
Auction XXV  22-23 Sep 2022
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Lot 580

Estimate: 15 000 GBP
Price realized: 18 000 GBP
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Greco-Baktrian Kingdom, Eukratides I Megas AR Tetradrachm. Circa 170-145 BC. Diademed and draped bust to right, wearing crested helmet adorned with bull's horn and ear / The Dioskouroi on horses prancing to right, each holding spear and palm; ΒAΣΙΛEΩΣ MEΓAΛOY in straight line above, ΕΥΚΡΑΤΙΔΟΥ below, monogram in lower left field. Cf. Bopearachchi 6I (curved legend); Bopearachchi & Rahman 239; Mitchiner 177aa (plates show only curved legend); SNG ANS -; cf. HGC 12, 131 (curved legend). 17.03g, 33mm, 12h.

Good Extremely Fine. Extremely Rare; the finest of one of fewer than half a dozen known examples.

From the Oxus Collection.

The casual observer could perhaps be forgiven for not immediately realising the importance of this type within the framework of Eukratides' vast coinage. The upper reverse legend however marks it out as being of great importance within the series. While the legend ΒAΣΙΛEΩΣ MEΓAΛOY EYKPATIΔOY is used extensively on the massive later issues of this ruler, it is always employed with a curved upper legend rather than the straight line evidenced here.

In reconsidering the early coinage of Eukratides in light of the discovery of the above hitherto unkown pentadrachm, we have already established that Eukratides coinage was unusual in that it explicitly (albeit briefly) employed denominational marks. What we must now consider is the obvious link between the geometrically idealised reverse designs of the pentadrachm along with its contemporary tetradrachms and drachms, and the present type which makes use of the same fine geometry and compact, balanced design. This issue, which may have before seemed to collectors like a rare curiosity due to its unusual legend arrangement and desirable for no greater reason than this, is celebrated now for what it most obviously is – the transitional issue between the bare headed coins of Eukratides' early reign, and the helmeted coins of Eukratides after he adopts the title of 'Megas' (Great). The reason for Eukratides' adoption of the title of 'Megas' is unfortunately unknown, but that it can only have been both earned and military in nature is undisputed. The coinciding shift to a curved upper legend was likely due to the necessary compression of the lettering caused by the minimal space available for horizontal legends of equal length being deemed unacceptable.
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