The ancient Greek decadrachm is one of the most impressive and popular items in Classical numismatics. In Athens, where numismatic design rested more on tradition than on modernity, the decadrachm is a rarity, with only several dozen known. Beautiful, monumental, and rare, Athens' decadrachm reflects both the time it was issued and the traditions of Athenian coinage. Traditionally thought to be dated at 479 BC, modern scholarship has now suggested that a date of approximately 465 BC would be more appropriate. Issued in relation to the Persian Wars, this issue celebrates the repelling of the Persians from Athens, although the main argument of the scholars who suggest the earlier date believe that it is a commemorative celebrating the defeat of Xerxes' invasion force at Salamis and Plataea in 480 and 479 BC. Modern scholarship, with its emphasis on hoards, die sequences, and scientific analysis suggests the later date of 465 BC.
Stylistically, the obverse is very similar to the Athenian tetradrachms contemporary to this piece with the war victory indicated by the three olive leafs on Athena's helmet. Athena provided the gift of the olive tree to her people, and also provided them with the wisdom to achieve both victory against the Persian forces and peace within the city-state. Athenian scholar E. L. Davis who is currently working on a catalogue of the Bronze coinage of Athens says, "The decadrachms of Athens are a monument to the innovative and resilient spirit of the Attic people. It's not easy to make a coin that large and still remain within the bounds of simplicity and good taste. Texans would have made Athena's hair bigger."
The tremendous success of Athens' tetradrachm led to the Attica mint adopting a very conservative approach to changing the design. While contemporary Greek sculpture stressed realism and naturalism, the archaic style of the first Athenian Owl remains as the dominant stylistic format on this piece. The front facing and almond shaped eye, along with the charming archaic smile are indicators of this style. The fleshy nose and beaded hair are also reminiscent of earlier pieces. Modifications are noted in the lower and more simplistic relief and monumentality of form that is absent in the earlier issues. The reverse is unlike any of the tetradrachms in that the owl is not a side view; rather the engraver takes a frontal approach. Still utilizing the shallow incuse square that is so prevalent on the tetradrachms, the design is a masterpiece of control and symmetry. The compact bird cleanly fits into the space provided for it, while his large eyes and the simplistic punch modeling of the feathers reflect the contemporary tetradrachms. Less naturalistic than the earliest tetradrachms, it is the very stylized nature of the bird that gives the owl a militant presence, which is lacking from the tetradrachms.
Its diameter of 36 millimeters makes it one of the largest of all Greek coins and only twelve specimens were known as of 1984, with the recent discovery of a hoard adding several to this number. When available on the numismatic market, they are consistently amongst the most expensive of all coins. In the Sothebys' sale of the Hunt collection of 19901, a superb example was estimated for $300,000 - $500,000 and sold for $502,000, attesting to the popularity of this rare, beautiful, and historically significant coin.
1 Sothebys, Nelson Bunker Hunt Collection of Highly Important Greek and Roman Coins. June 19, 1990. Lot 66.
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