2017-08-23 Wed

The Macedonian Kingdom didn’t have much knowledge on how to access mines and hence couldn’t mass produce influential coinage. But in 359 BCE, Philip II rose to power and realized the importance of mining and prioritized the acquisition of metals in his early conquests.

Philip defeated Amphipolis and Crenides. There was no stopping him as he was able to secure a consistent annual supply of nearly 30 metric tonnes of precious metal, striking them into iconic coinage. The step worked in favour of Philip and his coins became popular worldwide.

His son, Alexander the Great, continued Philip’s coinage and improved upon it, refocusing the silver mintage on a tetradrachm based on the Athenian weight standard that could be used easily throughout Greece. For more than two hundred years, Alexander the Great Tetradrachms would be minted at a productive rate, taken from his father’s mines in Thrace and Macedonia as well as the new bullion Alexander received when he took control of the Persians.

A single coin was equal to a four day’s pay for a common laborer, therefore, Alexander began minting bronze coinage for small transactions in local markets. However, Alexander the Great Tetradrachms were the most famous of his denominations. Within no time, it became one of the staple coins of the Greek world through their use in substantial purchases, international trade and for mercenary payments.

During Alexander’s lifetime, the Alexander the Great Tetradrachm coins were considered to be very artistic. The style of these coins would rapidly change, depending on when and where they were minted; however, the primary design elements would remain constant.

The reverse shows Zeus wearing a crown, likely a laurel wreath, atop his long hair. Zeus’ body changes depending on the coin, but this example shows him as muscular, wearing a linen cloak, covering his lower body.

He is seated on a decorated throne, holding a scepter that signifies the god’s power and authority and consequently that of Alexander’s as well. It also shows him holding an eagle in his right hand.

The reverse inscription on this coin reads "ΒΑΣΙΛΕΩΣ ΛΑΛΕΞΑΝΔΡΟΥ" which translates to “Of King Alexander”. It is speculated that Alexander chose a unique and detailed reverse depiction of Zeus, rather than base it off of a well-known statue. This foresight likely played a role in the ongoing popularity and universal acceptance of his tetradrachm coinage.