MOESIA OR THRACE. Uncertain, circa 2nd-3rd centuries AD. Tessera (Bronze, 13 mm, 0.50 g, 6 h). Bust of Athena to right, wearing crested Corinthian helmet and aegis. Rev. Three stars above crescent. Naumann 118 (2022), 536. Sol Numismatik 10 (2023), 203. Very rare. Pierced and somewhat corroded, otherwise, very fine.



The precise origin and function of these small tesserae remain uncertain. They feature a wide variety of obverse designs, paired with a reverse showing a crescent moon and three stars - though pieces with one, four or five stars are also known, albeit very rarely. Auction listings often attribute these tesserae to Nicopolis ad Istrum (as was the case with a series we sold in Web Auction 26), since the coins are generally believed to originate from Moesia or Thrace, and the reverse design is attested on Severan issues from Nicopolis.

However, the crescent-and-stars motif - whether with three stars or another number - is widely documented in antiquity. Versions with three or four stars appear frequently from the late Antonine period onward, especially during the Severan era, in Moesian and Thracian cities such as Anchialos, Augusta Traiana, Marcianopolis, Nicopolis, Pautalia, and Philippopolis. On Republican and Imperial coinage, crescents are often accompanied by seven stars, for example under Hadrian, for Diva Faustina Senior and Junior, and under Pescennius Niger, Septimius Severus, and Julia Domna. As such, there is no concrete evidence linking these tesserae specifically to Nicopolis ad Istrum, though a Thracian or Moesian origin remains probable, given how widespread the motif was in that region during the late 2nd and early 3rd centuries.

The purpose of these tesserae is still unclear. Their obverse designs are often religious in nature, typically showing busts or full figures of various deities, though animals - such as lions, bulls, and snakes - or ritual objects also appear. A cultic context is conceivable, but no firm conclusions can be drawn, and the diversity of imagery argues against a direct link to any one sanctuary. It is also possible that the tesserae were connected to athletic competitions or provincial assemblies, such as those of the Thracian Koinon - but this, too, remains speculative. Notably, the tesserae are always pierced - a feature that strongly suggests they were meant to be attached to something, or more likely, worn in some fashion.

Ultimately, these are fascinating small objects. Precisely because of their rich and varied iconography, they offer an especially compelling area for collectors and researchers alike.