ATTICA. Athens. Circa 515-510 BC. Drachm (Silver, 13 mm, 4.06 g), 'Wappenmünzen' type. Wheel with four spokes. Rev. Quadripartite incuse square, divided diagonally. Asyut 259. HGC 4, 1622. Kroll 3. SNG Copenhagen 5. Seltman pl. IV, δ. Svoronos pl. 1, 58-9. Attractive old collection toning. Slightly granular and the obverse struck somewhat off center, otherwise, good very fine.




While Athenian coinage is best known for the ubiquitous owl tetradrachms struck en masse in the 5th century BC, its origins were quite different. Athens’ first coinage emerged during the Peisistratid tyranny (546-510 BC), a period when the city had yet to transition to democracy. The obverse designs of these archaic coins - featuring motifs such as four-spoked wheels, amphorae, scarabs, gorgoneia, frogs, and the like - were once interpreted as emblems of powerful noble families involved in coin production.

This anachronistic and incorrect interpretation, reflected in the German term Wappenmünzen ('heraldic coins'), is based on heraldic traditions of the modern era. The depicted coin types more likely refer to the Panathenaia, the grand festival in honor of Athena, which was held every four years under the Peisistratids.

Regardless of their origins, the fall of the Peisistratids marked the abrupt end of the Wappenmünzen series. With the establishment of democracy, Athens rapidly adopted the iconic imagery of a helmeted Athena on the obverse and an owl on the reverse. This standardized design would dominate Athenian coinage for centuries, putting an end to the city’s early experiments with varied numismatic imagery.