The Classical Economies Collection

KINGS of THRACE

LYSIMACHOS
As Satrap, 323-305 BC

AR Tetrobol (2.37 g, 14mm, 11).

      Mint: Amphipolis.
      Struck: Circa 315 BC.
      Obv: [no legend]
                Diademed head of Apollo right.
      Rev: ΦΙΛΙΠΠΟΥ
                Rider on horseback right; below, ΛY above forepart of lion
                right; in exergue, spearhead right.
      Ref: Thompson 1=SNG ANS 829 (Philip II)=Price P5A; Müller -;
                AMNG III/2, -.
      Pedig: Ex Classical Numismatic Group 63 (21 May 2003), lot 270.

Æ Double Unit (7.08 g, 17mm, 4).
	Mint: Amphipolis. Struck: Uncertain. Obv: [no legend] Laureate head of Apollo right. Rev: ΦΙΛΙΠΠΟΥ Horseman riding right; below, ΛY and forepart of lion right. Ref: Cf. Thompson 2; cf. Müller p. 39; cf. AMNG III/2, p. 171, 5 (Philip III); cf. SNG ANS 997 (Philip II); Price P4 (all Æ Units).

Æ Unit (4.20 g, 17mm, 12).
	Mint: Amphipolis. Struck: Uncertain. Obv: [no legend] Laureate head of Apollo right. Rev: ΦΙΛΙΠΠΟΥ Horseman riding right; below, ΛY and forepart of lion right. Ref: Thompson 2; Müller p. 39; AMNG III/2, p. 171, 5 (Philip III); SNG ANS 997 (Philip II); Price P4.

Æ Half Unit (2.23 g, 15mm, 6).
	Mint: Amphipolis. Struck: Uncertain. Obv: [no legend] Head of Herakles right, wearing lion's skin headdress. Rev: ΦΙΛΙΠΠΟΥ Horseman riding right; below, ΛY and facing head of lion. Ref: SNG ANS 1002.

Æ Unit (5.27 g, 18mm, 12).

      Mint: Amphipolis.
      Struck: Uncertain.
      Obv: [no legend]
                Laureate head of Apollo right.
      Rev: ΦΙΛΙΠΠΟΥ
                Horseman riding right; below, ΛY and forepart of lion right;
                to left, bow.
      Ref: Thompson 2 var. (no bow); Müller p. 39 var. (same); AMNG
                III/2, p. 171, 6 (Philip III); SNG ANS 997 var. (Philip II; same);
                Price P3.

AR Tetrobol (2.30 g, 14mm, 3).

      Mint: Amphipolis.
      Struck: Uncertain.
      Obv: [no legend]
                Diademed head of Apollo right.
      Rev: ΑΛΕΞΑΝΔΡΟΥ
                Horseman riding right; below, ΛY above forepart of lion right;
                to right, trident head right.
      Ref: Thompson -; Müller p. 39; AMNG III/2, p. 171, 1 var. (Alex-
                ander IV, trident head to left); SNG ANS -; Price 435;
                Winterthur 1306a.

AR Diobol (1.22 g, 11mm, 1).

      Mint: Amphipolis.
      Struck: Uncertain.
      Obv: [no legend]
                Diademed head of Apollo right.
      Rev: ΑΛ-Ε[Ξ]
                Horseman riding right; below, forepart of lion right; ΛY in
                exergue.
      Ref: Winterthur 1306d (same rev. die); Münzen und Medaillen AG
                41 (18 June 1970), lot 51 (same rev. die).
      Pedig: Ex G. Hiller Collection (Elsen 94, 15 December 2007), lot 155.

Æ Unit (5.17 g, 18mm, 11).
	Mint: Amphipolis. Struck: Uncertain. Obv: [no legend] Laureate head of Apollo right. Rev: ΑΛΕΞΑΝΔΡΟΥ Horseman riding right; ΛY above; below, forepart of lion right. Ref: Thompson -; Müller p. 39, note 2; AMNG III/2, p. 172, 2 (Alex- ander IV); SNG ANS -; Price 437.

AR Tetrobol (2.64 g, 15mm, 6).

      Mint: Amphipolis.
      Struck: 311-305 BC.
      Obv: [no legend]
                Diademed head of Apollo right.
      Rev: ΛY
                Rider on horseback right; below, forepart of lion right above
                spearhead right.
      Ref: Thompson -; Müller -; cf. AMNG III/2, 5 (same obv. die;
                no spearhead?); SNG ANS -; Price -.
      Pedig: Ex Classical Numismatic Group 67 (22 September 2004), lot
                501.

Notes: This amazing specimen was struck from a reverse die that was originally engraved with the ΛY below the horse and ΦΙΛΙΠΠΟΥ above (Thompson 1). While the traces of the latter are barely discernable, the former is clearly visible in the field below the horse's belly. This confirms that the Thompson 1 types were followed by the Thompson 3 types, of which this coin is a variety. Two other specimens with a reengraved reverse die are BMFA 821 and Leu 48 (10 May 1989), lot 100 (both from the same reverse die, with a grain ear in the exergue and no spearhead).

AR Tetrobol (2.46 g, 14mm, 8).
	Mint: Amphipolis. Struck: 311-305 BC. Obv: [no legend] Diademed head of Apollo right. Rev: ΛY Rider on horseback right; below, forepart of lion right; in exergue, spearhead right. Ref: Thompson -; Müller p. 1, 1 (pl. 1, 1); cf. AMNG III/2, 5 (no spearhead?); SNG ANS -; Price 434.

AR Tetrobol (2.43 g, 14mm, 1).
	Mint: Amphipolis. Struck: 311-305 BC. Obv: [no legend] Diademed head of Apollo right. Rev: ΛY Rider on horseback right; below, spearhead right above forepart of lion right right. Ref: Thompson 3; Müller -; AMNG III/2, -; SNG ANS -; Price 434A.

Æ Unit (4.99 g, 17mm, 3).

      Mint: Amphipolis.
      Struck: Uncertain.
      Obv: [no legend]
                Laureate head of Apollo right.
      Rev: ΛY
                Horseman riding right; below, forepart of lion right.
      Ref: Thompson -; Müller p. 1, 2 (pl. I, 2); AMNG III/2, -; SNG ANS -;
                Price -.

Notes: The attribution of this coin type to Lysimachos is fairly certain. Two other issues, likely issued earlier, provide a vital link. Those issues, like this one, appear to be a typical Fifth-Tetradrachms of Philip II type. One retains Philip's name on the reverse, with LU and the lion forepart placed below the horse (Thompson 1; SNG ANS 829 (Philip II)). Thus, a positive connection with the typical Philip II Fifths. Even more fascinating is the other issue, which on which Philip's name is replaced with Alexander's (Price 435; Winterthur 1585). There are also accompanying bronze issues for each of these types. As such, all of the references and collections conclude that these coins were of Lysimachos.
In her study, Lysimachus: A Study in Early Hellenistic Kingship, Lund asserts that Lysimachos' pivotal victories against Antigonos Monopthalamos won him recognition as the ruler of Thrace from his allies, the other Diodochs (Lund, 62). Therefore, it would certainly not be incomprehensible that Lysimachos would have the wherewithal to issue coinage in his name. Perhaps his first issues with Philip's and Alexander's name were trials to see how his contemporaries would react.
Comparatively, the earliest coinage of Ptolemy I to bear his name are tetradrachms issued circa 315-310 BC. These 'satrapal' issues, while not of Alexander type, do bear both Alexander and Ptolemy's name (cf. SNG Copenhagen 13). Kassander, Lysimachos' ally in Macedon, also issued coinage in his own name before 305 BC, the year when he, Ptolemy I, and Lysimachos all assumed the royal title 'Basilews'. In sum, each of these Diodochs issued coinage in their own names after 305 BC, but they also did so before.
Although there is dissention among the sources as to the mint of origin, one theory is very persuasive. Lund and Price connect this coinage with the close friendship between Lysimachos and Cassander that developed around 315 BC (Lund, 57; Price, p. 130). They (as well as Thompson) contend that Cassander probably provided money for Lysimachos from Amphipolis, located near the border of their two territories. This would explain the use of this type of coinage, which would be difficult to explain if Lysimachia were the actual mint of issue (as Thompson, Müller, and ANS contend). Price doubts the possibility of Lysimachia as a mint for Lysimachos, especially early after it's founding in 309 BC. He notes that the autonomous city coinage certainly dated near 309 has a style vastly different from the Lysimachos coinage attributed to Lysimachia that early (Price, p. 197).
Although impossible as yet to determine the exact dating of the issues, a few theories abound. Price places these issues during the time c. 320-315 BC. Lund, however, makes a strong case that this coinage could not be possible until Cassander had Macedon's mints under his firm control in c. 315 BC. In support, she notes that Lysimachos probably did not take active part in any major conflict outside Thrace between 319-315 BC due to the lack of a money supplier following the death of his benefactor Antipater in 319 BC (Lund, 57). Thompson argues the beginning date of this coinage as 306/5 BC, when Lysimachos adopted the royal title. Other than the fact that other Diodochs issued coinage with their name earlier than then, noted above, no references date any of the Philip Fifth-Tetradrachm issues after 315 BC, for any mint. In addition, it would be very perplexing, in 306/5 BC, for Lysimachos to reintroduce a coinage of the type of, and naming, Philip II, which had not been minted since 315, rather than simply using an Alexander III/2, type (notwithstanding the use of Alexander's name also in the issue).
Adopting a beginning date of 315 BC, I would posit that the earliest issue, probably beginning in 315 BC, would be the one with Philip's name on the coins. According to Le Rider and ANS, Amphipolis had been issuing the Philip II style Fifth-Tetradrachms up to 315 BC, and the style of the latest examples is highly similar to that on these coins of Lysimachos. Therefore, it would be a matter of course for the mint to produce dies with the new control marks. Further, I would posit the seemingly obvious: the issue with only Lysimachos' name is the last. In this issue, it is notible that the name of Lysimachos has not only remained alone, but has been moved to the top of the reverse, exactly where the names of the other two kings had been placed. This had to be done purposefully, and served to proclaim Lysimachos as among the rank of Philip and Alexander. As the coinage would likely have been used to pay troops and mercenaries, the motivation behind such a policy is readily apparent.
My research has located four of this type containing Philip's name (one at ANS (=Thompson 1), two in Winterthur, one in Pozzi), one containing Alexander's name (Winterthur), and nine with Lysimachos' name alone (four at the ANS, two in Winterthur, one at BMFA, two in Pozzi (but one of these is at ANA), and one of unknown provenance in Sear's Greek Coins and their Values, vol. 2). These numbers lead me to hypothesize the meaning behind the unprecedented issue with Alexander's name. If Lysimachos wished to place himself in the esteemed position of his much-honored predecessors, such an issue could emphasize the implications of the impending issue with solely Lysimachos' name. Thus, Lysimachos would also display himself as a successor to Alexander who was, in turn, the successor of Philip II. This, of course, would only be as the "successor as ruler of Thrace," not of the whole Macedonian empire of Alexander. As his position as ruler was secured among his peers after the first war with Antigonos, c. 311 BC, now he was asserting his rule to his subjects and army in Thrace.
A terminal date of the three-issue series is less certain, however, certain events may shed some light. The issue certainly would not last past Lysimachos' assumption of the royal title. In this case a plausible timeframe for the issues, considering the scarcity of each in relation to one another, would be: The first issue, with Philip II's name was minted c. 315-311 BC. The second, with Alexander's name, was a short issue minted c. 311. The third and final issue, with Lysimachos' name only, minted c. 311-305 BC. All of the sources confirm that Lysimachos' good relations with Cassander was enduring during this time.
The overall rarity of the coins in general suggest a far shorter timeframe than ten years. The only other possibility fitting the events of the time, is a very short timeframe, perhaps conforming to the war with Antigonos, 315-311 BC. Lysimachos would have need of much money for his contribution to the cause, and as his position among the Diodochs rose with his success, he could have exercised the same strategy I outlined above during this war. The only problem with this theory would be that such would leave Lysimachos without a dependable source of coinage between 311-305 BC. Given the close friendship between Cassander and Lysimachos, it would be difficult to believe Cassander would cut Lysimachos off, or that Lysimachos did not have any need during this time.
Another theory explaining the coinage remains, though: the coinage could have been issued contemporary with his Alexander types, as fractional coinage. Such is plausible as the Philip II Fifth Tetradrachms were struck at mints under Alexander and the other Diodochs that were also simultaneously striking Alexander-types and Philip II tetradrachms. The fact, however, that there is no evidence of Philip-type Fifths being minted after 315 BC renders this theory highly unlikely.

As King, 305-281 BC Æ Unit (3.23 g, 17mm, 12).
	Mint: Amphipolis. Struck: Uncertain. Obv: [no legend] Laureate head of Apollo right. Rev: ΒΑΣΙΛΕΩΣ Horseman riding right; ΛY behind, forepart of lion right below. Ref: Thompson 4; Müller -; AMNG III/2, 5; SNG ANS -; Price 437A; Winterthur 1306e/1589 (same obverse die).

AR Drachm (4.20 g, 20mm, 12).

      Mint: Ephesos.
      Struck: 294-287 BC.
      Obv: [no legend]
                Diademed head of the deified Alexander the Great right, with
                Horn of Ammon.
      Rev: ΒΑΣΙΛΕΩΣ ΛΥΣΙΜΑΧΟΥ
                Athena Nikephoros seated left; to inner left, bee between E-Φ.
      Ref: Thompson 168; Müller 421; SNG Copenhagen 1147.

Notes: Ephesos was one of the primary drachm mints of Lysimachos. Captured circa 295 BC, he renamed Epesos Arsinoe, in honor of his wife. The mint stopped production circa 287 BC, when Magnesia attacked many of its rival cities after Lysimachos' control in Ionia weakened after Demetrios Poliorketes invaded there. Although Lysimachos reestablished control in Ionia, he apparently did not reopen most of the mints, having shifted production to his mints in more secure regions.

Æ 12mm (1.94 g, 5).

      Mint: Uncertain.
      Struck: Before 281 BC.
      Obv: [no legend]
                Helmeted head of Athena right.
      Rev: ΒΑΣΙΛΕΩΣ ΛΥΣΙΜΑΧΟΥ
                Facing head of Lion.
      Mm: None.
      Ref: Müller pl. XLII, 12; SNG Copenhagen 1170.

Notes: This coin type is likely the next larger denomination after the coin below.

Æ 9mm (0.69 g, 5).

      Mint: Uncertain.
      Struck: Before 281 BC.
      Obv: [no legend]
                Helmeted head of Athena right.
      Rev: ΒΑΣΙΛΕΩΣ ΛΥΣΙΜΑΧΟΥ
                Head of lion right; below, spearhead(?) right.
      Ref: Prof. Dr. Hagen Tronnier Colletion (Künker 94, 27
                September 2004), lot 584 = Hirsch 175 (23 September
                1992), lot 152, otherwise unpublished.

Notes: Other than the Tronnier example, this small bronze is completely unpublished. It is the smallest known coin of Lysimachos, and approximately 2/3 the weight of the smallest published bronze coins (11mm bronzes; cf. SNG Copenhagen 1158). This coin is most similar to an 11mm bronze coin of Lysimachos which has the same types, but the reverse has a facing lion's head (SNG Copenhagen 1170; see previous coin above). The three published examples of that type are approximately twice the weight of this coin, and as such, it is likely that these tiny coins are associated fractions of those coins.