Elis, Drachm, ca. 244-210 BC
Olympia - Silver - AU(50-53) - HGC:5-510
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Eagle flying right, piercing the back of a running hare with its claws.
Winged thunderbolt with double volutes, F-A on either side at top and magistrate's name at bottom.
A beautiful drachm struck on the symmachic or reduced aeginetic standard, with a superb gray patina, golden highlights and numerous details. This is the last type of drachm issued by the city of Olympia. Rarely seen in sales in recent years, our example is also rare for its type. The obverse die shows signs of wear, revealing a strike weakness on our coin. However, the feathers of the eagle's wings and tail can still be seen, as can the body of the hare, both in a dynamic position and nicely depicted. The reverse is in a very good state of preservation, with attractive gray reliefs on a dark background. Every element of the thunderbolt is clearly visible and all the wing feathers can be seen. The name of the magistrate, beginning with Phi, is inscribed on either side of the feathers. Our drachm was minted between 244 and 210 BC, during the 134th to 143rd editions of the Olympic Games. These ancient games took place in the eponymous city of Olympia, whose main patron deity was Zeus. A sacred grove, an altar, a temple and, in particular, the famous chryselephantine statue by Phidias - Olympian Zeus (one of the Seven Wonders of the Ancient World) - were dedicated to him. The coinage of the city also paid tribute to its divine protector by depicting two of his most famous attributes: the eagle and the thunderbolt. The iconography of the obverse and reverse is a resurgence of that used in the Archaic period, a phenomenon regularly seen in the Hellenistic period. The choice of standard is not insignificant. Issuing drachms was one of the means used by the city to alleviate its economic crisis. The latter was undoubtedly linked to the city's forced membership of the Achaean League, which controlled the types of coinage issued. A pleasant, well-preserved drachm with iconography closely linked to the history of the city in which it was issued. A must-have! Schwabacher, Group IV, 49; BCD Olympia 265 and HGC 5, 510. Faune d'Argent Collection.
F-A / Φ-Ι
4.78 gr
Silver
Silver can fall into your pocket but also falls between copper and gold in group 11 of the periodic table. Three metals frequently used to mint coins. There are two good reasons for using silver: it is a precious metal and oxidizes little upon contact with air. Two advantages not to be taken for granted.
Here is thus a metal that won’t vanish into thin air.
It’s chemical symbol Ag is derived from the Latin word for silver (argentum), compare Ancient Greek ἄργυρος (árgyros). Silver has a white, shiny appearance and, to add a little bit of esotericism or polytheism to the mix, is traditionally dedicated to the Moon or the goddess Artemis (Diana to the Romans).
As a precious metal, just like gold, silver is used to mint coins with an intrinsic value, meaning their value is constituted by the material of which they are made. It should be noted that small quantities of other metals are frequently added to silver to make it harder, as it is naturally very malleable (you can’t have everything) and thus wears away rapidly.
The first silver coins probably date back to the end of the 7th century BC and were struck on the Greek island of Aegina. These little beauties can be recognized by the turtle featured on the reverse.
The patina of silver ranges from gray to black.
The millesimal fineness (or alloy) of a coin indicates the exact proportion (in parts per thousand) of silver included in the composition. We thus speak, for example, of 999‰ silver or 999 parts of silver per 1 part of other metals. This measure is important for investment coins such as bullion. In France, it was expressed in carats until 1995.
An “AU(50-53)” quality
As in numismatics, it is important that the state of conservation of an item be carefully evaluated before it is offered to a discerning collector with a keen eye.
This initially obscure acronym comprising two words describing the state of conservation is explained clearly here:
About Uncirculated(50-53)
This means – more prosaically – that the coin has circulated well from hand to hand and pocket to pocket but the impact on its wear remains limited: the coins displays sharp detailing and little sign of being circulated. The number (50-53) indicates that at least half of the original luster remains. Closer examination with the naked eye reveals minor scratches or nicks.
You might be wondering why there are different ranges of numbers behind the same abbreviation. Well, we’ll explain:
The numbers are subdivisions within a category, showing that the state of conversation is the same but coins may be at the higher or lower end of the scale. In the case of AU, the range (55-58) indicates that the luster is better preserved in than a similar coin described as (50-53).
