PAPHLAGONIA. Sinope. Circa 425-410 BC. Drachm (Silver, 18 mm, 6.05 g). Head of a sea-eagle to left; below, dolphin left. Rev. Quadripartite incuse square with two opposing quarters filled, Λ within one unfilled quarter. HGC 7, 388 var. (pellet in quarters). RG 10a. SNG BM Black Sea -. SNG von Aulock -. Lustrous, fresh and attractive, the obverse boldly struck in high relief and with a very attractive eagle's head. Minor marks and with very light deposits, otherwise, virtually as struck.



The coinage of Sinope in the high classical period has yet to receive a truly comprehensive study. It is usually divided into two phases: an early one, from 490–425 BC, with drachms showing 'crude' eagle heads, and a later one, from 425–410 BC, in a 'finer style'. The ten specimens in this auction (lots 356–365) suggest that the change was in fact far more gradual and cannot be reduced to two neat stages. The series begins with rather rudimentary eagle heads, sometimes even with added legs, which over time evolve into splendid, naturalistic designs clearly inspired by the Olympic staters of the 93rd Olympiad (408 BC) (cf. e.g. BCD 77 and Seltman 153), and nearly their equal in style.

The reverses also show a steady transformation: from early quadratae incusae with two filled and two sunken quarters (the latter containing pellets) to more finely executed incusae where various dots and letters may indicate different issues. Situated on the north coast of Asia Minor, this important port city thus underwent a gradual artistic development comparable to that of other Greek mints in the 5th century BC (Athens, Aegina, Korinth, etc.). Sinope’s high-classical coins were probably intended above all for long-distance trade, and perhaps also to pay mercenaries — a view supported by the extreme rarity of the only two small denominations known, which were presumably struck only on rare occasions.