2017-08-11 Fri

One of the two known gold staters from Magnesia is being offered at the next Long Beach Auction of World and Ancient Coins. It is an unrecorded denomination and type for Magnesia, making it very desirable. The coin, graded Choice AU, was probably struck using a rusty obverse die due to which it has grains on the surface.

A tribe from Thessaly called the Magnetes along with colonists from Crete founded Magnesia and Meandrum in the mid-700s BCE on the banks of the Lecathus in south-western Ionia. The Renaissance of classical Greek coinage had its effect on this city during the mid-second century BCE. Huge and interesting wreath bearing silver tetradrachms featuring the city's patron goddess Artemis and her brother Apollo were released during this time.

The names of a series of magistrates or people who financed the coinage were featured on the coins as well. The offered coin has the names Euphemos and Pausanius. It belongs to this time period of stephanophoric tetradrachms, circa 155-145 BCE.

The reverse depicts Nike driving a two-horse chariot or biga. This particular design has never appeared on the coinage of Magnesia. It was probably struck to honour a military victory. Magnesia did not have a strong military powerhouse. The 40th anniversary of the Battle of Magnesia occurred in December 150 BC and there is a possibility that the coin was struck to celebrate this event.