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ANCIENT COINAGE AND CIRCULATION
OF CURRENCY (IN MACEDONIA) - PART I
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The
beginnings of the monetary economy on the territory of the Republic of Macedonia
are dated back at the end of the 6th century BC. Coins from this period
were minted by the Greek city-states in the region of Chalkidike, then Tassos
(550-480 BC), Neapolis (530-mid 5th century BC)and Akanthos (510-480 BC).
During the circulation of these coins, at the end of the 6th century in
Macedonia the Paeonian tribes of the Derrones and Laiai began minting and
producing other coins. These tribes are the first subjects on the territory
of Macedonia to begin using coins.
Some Paeonian tribes like the Derrones and the Laiai, which inhabited the
area around the mid course of the river Bregalnica (Astibos) and the upper
course of the river Struma (Strymon), showed signs of economic and social
maturity, with the elements of structures arising prior to the beginning
of the Classical era. This resulted from contacts and connections with Asia
Minor, as well as the influence of the economic impulses of the Greek colonies
on Chalkidike. This situation led to the process of coin minting and is
a reflection of sovereignty in the antique period. The process was also
possible due to the fact that the region of Macedonia (Paeonia) was rich
with gold and silver mines. The coins are the sole evidence of the existence
of the Derrones.
Opinion prevails that the Derrones minted their own coins from the end of
the 6th century BC to 480 BC, (which is again brought into connection to
the Greek-Persian
wars).
The State of Persia imposed its authority on Chalkidike, which led to seize
of coinage in large number of the city-states (poleis) in the region.
By exploiting the silver mines in the region of Kratovo, the Derrones minted
coins according to the Thraco-Macedo-
nian standards, producing the so-called bullions, high values of deca- and
octo-drachms weighing between 41.20 to 34.70 grams. These coins were mainly
used for foreign trade, for which evidence has been found in Jordan, Syria,
Egypt and Afghanistan.
The coins of the Derrones carry the legend 
and
representations of a cart led by a pair of oxen and a divine being that
walks or rides. The symbols - sun, Corinthian helmet and flower- can be
found on coins throughout the Chalkidike citystates, an indicator of mutual
influences.
Derrones coinage in the Republic of Macedonia today is represented by the
joint discovery of octodrachms, one octodrachm, then a decadrachma by Euergetes
(all in the region of gtip) and one octodrachm from the region of Kumanovo,
the sole sample of the findings kept in Macedonia (Museum of Macedonia).
At the same time, the Laiai tribe was minting coins. The obverse carries
representations similar to the Derrones coins, butwith a different legend
. The Laiai
coin reverse pictures a walking Pegasus with wings brought together. The
Laiai also minted the so-called bullions, weighing from 32.80 to 31.94 grams
and used mainly for foreign trade, as is evident from discoveries in Egypt.
Laiai gold coins are found in Republic of Macedonia in the region of grip,
which indicates the presence of trading relations between the Laiai and
the Derrones.
Near
the end of the 6th century to the year 480 BC, coins were minted by the
Syropaeonians, as well as the Brigo-Edonian tribes of Orreskioi, the Edones,
Tyntenoi and Bisaltai and in the cities of Ichnai and Lete. It is presumed
that the coins of the Derrones, the Laiai and the Tyntenoi were minted in
the city of Ichnai.
Coins minted in the city of Damastion started circulating in Macedonia at
the end of 5th century BC. The city, which was inhabited by
Chalkidike Greeks near the end of 5th century BC, is yet to be located.
Three types of Damastion silver coins are known: the tetradrachm type Apollo/tripod
with the legend 
;
and drachmas with representations of female divinity/malleable plate and
the same legend, and tetrobols type Apollo/pick and the same legend. The
weight of these coins was over 13 grams, according to the monetary standard
system later called Paeonian. The work of the Damastion mint is set in the
period between the years 390 to 325/320 BC.
A tetradrachm from this mint in Pelagonia was found in the region of Prilep,
and in Paeonia silver coins of Damastion have been found in Stobi, Veles
(Almana?) and Kratovo (Tranupara?). These coins types are also found in
Ku:evite and Kumanovo.
Due to the similarity of the Damastion coins with the coins from Pellagia,
Daparria, the Sarnoaton and Tenestine coins, it is presumed that they were
minted in the Damastion mint. The coins are our sole evidence that the aforementioned
cities and tribes existed.
The coins of the city of Pellagia, minted from the year 360/350 to the year
300 BC, are similar by type to the Damastion ones, and bear the legend of
the name of the 
city
in genitive - 
.
Two samples of these coins were found in Macedonia in the area surrounding
of Skopje: tetrobol and drachma. Even though the presence of these coins
in the region of Skopje is not frequent, it can still serve as a clue to
locating the city north of Pelagonia or near Tetovo.
The coins of the city Daparria (legend 
)
are similar to the Damastion coins and were usecl.within the same period
as the coins of Pellagia. In Macedonia only one tetradrachm has been found.
The coins of the Sarnoaton (
)
are similar by type to the Damastion ones and were minted in the same period.
In Macedonia only one drachma has been found in the area surrounding of
Skopje.
From the mid 5th century BC a larger number of coins, minted by the lower-Macedonian
kings, started circulating on the territory of Macedonia. This was a result
of trading contacts and the more frequent attempts of the Argead dynasty
to unite the upper-Macedonian regions (Lynkestis -Pelagonia) and the southern
parts of Paeonia (later Amphaxitis). The coins became one of the most important
means for payment, especially after Macedonia was united during the reign
of Phillip II. With the loss of independence in the year 168 BC, the coins
fell into disuse on the territory of Macedonia.
The
first Macedonian ruler (from the Argead dynasty) who began minting coins
was Alexander I Philhellene (498-454 BC). Being a wise ruler
and a cunning politician, as well as an ally to the Persians, he succeeded
in expanding the territory of the lower-Macedonian Kingdom. By exploiting
the silver mines in the region of lake Prasias and the Disoron mountain
(mines from which according to Herodotus (Her. V, 1 7), he was able to produce
a talent of silver per day), Alexander I Philhellene minted several types
of silver coins with different nominal values, most of which were octodrachms,
tetradrachms, tetrobols and diobols. Some coin types are consisted of the
legend and his name 
.
A large number of diobols was discovered on the territory of Macedonia in
the location of Vardarski Rid, near Gevgelija (Gortyniya?) and in Pelagonia.
Perdiccas II (454-413 BC), son of Alexander I, minted tetrobols and coins
of smaller nominal value, according to the Thraco-Macedonian monetary standard.
There are several types of these coins: trotting horse/helmet with a plume
in incuse square; horseman holding spears/front part of a lion in incuse
square (tetrobols); Hercules' head in lionskin/bludgeon in incuse square
(diobols); and standing horse/ front part of a lion in incuse square (obols).
Some coins include his name, 
.
One tetrobol type was found in Gevgelija (Gotrynia?), and near Drenovo (Audaristos?).
These discoveries confirm Tycidides' data that the region south of Demir
Kapija (latter Amphaxitis) was under the reign of Perdiccas II.
His son Archelaus I (419-399 BC), reformed the army, built new roads and
fortresses and moved the capital from Aegae to Pella.
Archelaus I minted coins in accordance to the Persian monetary systerm that
was used by all Macedonian kings prior to the reign of Phillip II. In addition
to silver 
coins,
Archelaus I started minting bronze coins, which indicates a complete transfer
to a market economy. Several types of his coins
have been identified - horseman with a spear/front part of goat with the
head turned backwards in incuse square; trotting horse/helmet with a plume
or eagle with spread wings in incuse square; head of young Hercules in lions
skin/bludgeon, bow, etc. Some coins include a legend with his name 
.
Two of Archelaus' silver coins were found in Macedonia - a tetradrachm in
the surroundings of Berovo and a silver starer near Ko6ani.
After the death of Archelaus I in the year 399 BC, the Macedonian Kingdom
experienced a period of internal battles and attacks from abroad, a period
that lasted until the year 393 BC when Amyntas III was brought to power.
Amyntas III (393/2-370/69 BC) minted silver coins in several denominations
as well as bronze coins. In the first part of his reign he minted the following
types: head of Hercules in lions skin/horse or eagle; while in the second
part- Macedonian horseman/lion holding a broken spear; Hercules' head in
lionskin/eagle killing a snake or a horse; bludgeon/front part of a wolf
or a helmet. All types have the legend AMYNTA.
A large number of silver and bronze coins in different denominations minted
by Amyntas III was found in Macedonia. The throne was inherited by Alexander
II (369-368 BC), who minted bronze coins only, of which none are found in
Macedonia.
Following the dynastic battles for power, the throne was taken by Perdiccas
III (365/4-359 BC), who minted silver coins-tetradrachms, didrachms (staters)
and diobols and bronze coins. Several of his coin types have been identified:
head of young Hercules in lionskin/trotting horse and bludgeon (silver coins);
head of young Hercules in lionskin/walking lion
holding
a spear or bull with head turned backwards or eagle with head turned to
the right (bronze coins). All coins include the legend 
or . So far, only two bronze coins have been discovered in Pelagonia.
From the year 359 BC, the Macedonian Kingdom was ruled by the third son
of Amyntas III, Phillip II, who would unite the upper-Macedonian regions
under one dynasty.
Phillip II was a famous army leader, politician and diplomat who turned
Macedonia into a military, political and economic power on the Balkan Peninsula.
Among other things this was due to his financial reform, through which he
established a dual monetary system, and he was the first Macedonian king
to mint gold coins. As a result of the established quality, weight and given
authority, the silver tetradrachms and especially the gold staters struck
by Phillip II, replaced the'coins then in circulation, which were one of
the dominant means for payment in the Central and Eastern Balkans (Athens'
drachmas and tetradrachms and Persian gold coins 'dareics'). The coins minted
by Phillip II were called 'philippics' and became a prestigious means for
payment, sort of an international currency used in the Eastern Mediterranean,
minted posthumously by his heirs, and imitated by barbarian tribes for a
long time. The gold, silver and bronze coins of Phillip II were minted mainly
in Pella and Amphipolis, as were the coins of all former Macedonian rulers.
Phillip II began minting gold coins from the year 346 BC, when Amphipolis
was conquered and the gold mines of the Pangaion region were exploited;
these mines provided 1000 talents (26,200 kilograms) of gold per year.
Apart from the staters, Phillip II struck distaters (very rarely), as well
as 1/2, 1/4, 1/8 and 1/12 staters. On the starers and distaters, the obverse
depicted Apollo with
laurel grove on the right, and the reverse a boy in biga pulled by two running
horses on the right. The smaller denominations carry the same representation
on the obverse, while the reverse depicts the front half of a lion, bludgeon
and bow, lightning, etc. The golden denomination has the legend 
on the reverse.
In Macedonia some posthumous golden distaters and staters were found in
a joint discovery near the village Topolcani, 25 starers have been found
between Skopje and the Bulgarian border, and there have been individual
discoveries as well.
Phillip II started minting silver coins from the year 359 or 356 BC. Apart
from tetradrachms, he minted didrachms, drachmas, diobols, tetrobols and
octobols. One of the characteristics of Phillip's silver coins is the fact
that he minted two different types of tetradrachms.
Both types are alike on the obverse, carrying a bearded Zeus, and differ
on the reverse: a bearded horseman on the first type, and a naked young
horseman with a palm tree in his hand on the second type. This type of tetradrachms
was very popular with the barbaric people.
Phillip's silver coins, most of which were tetradrachms, were in use in
almost all regions of Macedonia. Tetradrachms are found in Pelagonia, Markova
Varo- Prilep (Ceramiae?), Volkovo - Prilepec (Pelagonia?), etc. One tetradrachm
was found in Vinica, as well as five drachmas in a joint discovery near
Sekulica, Kratovo. The same denomination is found near Gorenci and Trebenite,
Ohrid. A lot of silver coins minted by Phillip II are kept in museums throughout
Macedonia.
Apart from the gold and silver coins, Phillip's bronze coins were also minted
in Pella and Amphipolis, but were circulated posthumously. The following
types are identified: head of Apollo/horseman with a kausia; and head of
young Hercules in lionskin/horseman or bludgeon. All have the legend on
the reverse. Samples of the bronze coins struck by Phillip II are found
in large numbers on the territory of Macedonia.
According
to findings concerning the coins minted by Phillip II in Macedonia, it can
be concluded that these coins, unlike the ones produced by former Macedonian
kings, were used in large quantities and circulated in all regions of Macedonia.
This says a lot about the strong economy that characterized the reign of
Phillip II.
In Macedonia and the surrounding regions, parallel to the circulation of
the posthumous coins of Phillip II, the coins of his son Alexander III the
Macedonian (336-323 BC) began circulating. He thwarted Hellenic efforts
to overthrow Macedonian authority, conquered the entire Persian kingdom,
went into India as far as the river Ind, and with his activity opened a
new era in the history of humanity: the Macedonian period or so-called Hellenistic
period. During his reign the Macedonian Kingdom reached the highest point
of its social-economic and political growth. The political and military
expansion of Alexander III would enable domination of his coins in every
inhabited part of the ancient world...Go
to PART II...
Ministry of information of Republic of Macedonia
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