Coinage was used in the
Ptolemaic Kingdom during the
last dynasty of
Egypt and, briefly, during
Roman rule of Egypt.
Ptolemaic coinage was struck in
Phoenician weight, also known as Ptolemaic weight (about 14.2 grams). This standard, which was not used elsewhere in the
Hellenistic world, was smaller than the dominant
Attic weight
Attic weight, or the Attic standard, also known as Euboic standard, was one of the main monetary standards in ancient Greece. As a result of its use in the coinage of the Athenian empire and the empire of Alexander the Great, it was the dominant ...
. Consequentially, Ptolemaic coins are smaller than other Hellenistic coinage. In terms of art, the coins, which were made of silver, followed the example set by contemporary
Greek currencies, with dynastic figures being typically portrayed. The Ptolemaic coin making process often resulted in a central depression, similar to what can be found on
Seleucid coinage.
The Ptolemaic dynasty introduced standard coinage to Egypt, where pre-existing
native dynasties made only very limited use of coins. The first Ptolemaic mint was in
Memphis and was later moved to
Alexandria
Alexandria ( or ; ar, ٱلْإِسْكَنْدَرِيَّةُ ; grc-gre, Αλεξάνδρεια, Alexándria) is the second largest city in Egypt, and the largest city on the Mediterranean coast. Founded in by Alexander the Great, Alexandri ...
. Succeeding in monetizing the Egyptian society, largely due to efforts of king
Ptolemy II Philadelphus
; egy, Userkanaenre Meryamun Clayton (2006) p. 208
, predecessor = Ptolemy I
, successor = Ptolemy III
, horus = ''ḥwnw-ḳni'Khunuqeni''The brave youth
, nebty = ''wr-pḥtj'Urpekhti''Great of strength
, golde ...
, the Ptolemaic kingdom flourished. For most of its history, the kingdom vigorously enforced a policy of a single currency, confiscating foreign coins found on its territory and forcing its dominions to adopt Ptolemaic coinage. In the rare cases when these dominions were allowed their own currency, such as the
Jewish community in
Palestine
__NOTOC__
Palestine may refer to:
* State of Palestine, a state in Western Asia
* Palestine (region), a geographic region in Western Asia
* Palestinian territories, territories occupied by Israel since 1967, namely the West Bank (including East J ...
, they still had to observe the Ptolemaic weight. These policies, along with inflation and increasing difficulty to obtain silver, caused monetary isolation of the Ptolemaic coinage.
After Egypt was
annexed
Annexation (Latin ''ad'', to, and ''nexus'', joining), in international law, is the forcible acquisition of one state's territory by another state, usually following military occupation of the territory. It is generally held to be an illegal act ...
into the
Roman Empire
The Roman Empire ( la, Imperium Romanum ; grc-gre, Βασιλεία τῶν Ῥωμαίων, Basileía tôn Rhōmaíōn) was the post-Roman Republic, Republican period of ancient Rome. As a polity, it included large territorial holdings aro ...
and the Ptolemaic dynasty ceased to exist, its currency still remained in circulation. This was the case until the rule of
Emperor Nero
Nero Claudius Caesar Augustus Germanicus ( ; born Lucius Domitius Ahenobarbus; 15 December AD 37 – 9 June AD 68), was the fifth Roman emperor and final emperor of the Julio-Claudian dynasty, reigning from AD 54 unt ...
. Silver from the coins was reused for
Roman tetradrachm.
Denarii
The denarius (, dēnāriī ) was the standard Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the antoninianus. It continued to be minted in very s ...
and
aurei
The ''aureus'' ( ''aurei'', 'golden', used as a noun) was a gold coin of ancient Rome originally valued at 25 pure silver ''denarii'' (sin. denarius). The ''aureus'' was regularly issued from the 1st century BC to the beginning of the 4th cen ...
did not circulate in the former Ptolemaic Kingdom, so Egypt's monetary isolation continued.
Design and symbolism
The Ptolemaic Kingdom used
Phoenician weight instead of the more common
Attic weight
Attic weight, or the Attic standard, also known as Euboic standard, was one of the main monetary standards in ancient Greece. As a result of its use in the coinage of the Athenian empire and the empire of Alexander the Great, it was the dominant ...
.
Phoenician weight, also known as Ptolemaic weight, is about 14,20 grams. The more common Attic weight from other Hellenistic states is approximately 17,26 grams. Ptolemaic coinage was struck in different standard, and the kingdom sought to obtain full royal control on coinage in circulation.
The largest denominations of Ptolemaic bronze coinage weighed up to 100 grams.
Artistically, Ptolemaic coinage closely followed contemporary
Greek currencies. A commonplace symbol of the Ptolemaic dynasty is an eagle standing on a thunderbolt, first adopted by
Ptolemy I Soter. The more peculiar Ptolemaic coinage include so-called "dynastic issues".
Ptolemy II Philadelphus
; egy, Userkanaenre Meryamun Clayton (2006) p. 208
, predecessor = Ptolemy I
, successor = Ptolemy III
, horus = ''ḥwnw-ḳni'Khunuqeni''The brave youth
, nebty = ''wr-pḥtj'Urpekhti''Great of strength
, golde ...
married his sister
Arsinoe II
Arsinoë II ( grc-koi, Ἀρσινόη, 316 BC – unknown date between July 270 and 260 BC) was a Ptolemaic queen and co-regent of the Ptolemaic Kingdom of ancient Egypt. She was given the Egyptian title "King of Upper and Lower Egypt", making ...
, possibly to gain legitimacy in eyes of the local
Egyptian population. Egyptian rulers had traditionally married their sisters to signify a connection to sacred union between the deities
Osiris and
Isis. A
medal-like coin with one side portraying Ptolemy II and Arsinoe II, and the other side portraying Ptolemy I and
Berenice I
Berenice I ( grc-gre, Βερενίκη; c. 340 BC – between 279 and 268 BC) was Queen of Egypt by marriage to Ptolemy I Soter. She became the second queen, after Eurydice, of the Ptolemaic dynasty of Egypt.
Life Family
Berenice was originally f ...
was struck after the death of Arsinoe II. She had significant posthumous influence on Egyptian religious life, and the ruling Greek dynasty was
deified
Apotheosis (, ), also called divinization or deification (), is the glorification of a subject to divine levels and, commonly, the treatment of a human being, any other living thing, or an abstract idea in the likeness of a deity. The term h ...
.
In the coin making process, there were similarities with Seleucid coinage. For instance, Ptolemaic coins often have a central depression from the coin making process.
Mints
The first Ptolemaic mint was at
Memphis. It was later moved to
Alexandria
Alexandria ( or ; ar, ٱلْإِسْكَنْدَرِيَّةُ ; grc-gre, Αλεξάνδρεια, Alexándria) is the second largest city in Egypt, and the largest city on the Mediterranean coast. Founded in by Alexander the Great, Alexandri ...
.
Tyre was the most important coastal city out of the five Ptolemaic cities with a mint in
Syria.
After the Seleucid Kingdom led by
Antiochus III the Great
Antiochus III the Great (; grc-gre, Ἀντίoχoς Μέγας ; c. 2413 July 187 BC) was a Greek Hellenistic king and the 6th ruler of the Seleucid Empire, reigning from 222 to 187 BC. He ruled over the region of Syria and large parts of the re ...
conquered
Coele-Syria
Coele-Syria (, also spelt Coele Syria, Coelesyria, Celesyria) alternatively Coelo-Syria or Coelosyria (; grc-gre, Κοίλη Συρία, ''Koílē Syría'', 'Hollow Syria'; lat, Cœlē Syria or ), was a region of Syria in classical antiqui ...
Ptolemais in Phoenicia
Ptolemais was an ancient port city on the Canaanite coast in the region of Palestine, in the location of the present-day city of Acre, Israel. It was also called Ptolemais in Canaan (or ''Akko'', ''Ake'', or ''Akre'' in Canaanite Language). It was ...
(Acre) was still allowed to strike coins using the Phoenician weight. The mint remained very prolific, and was among the most active ones in the Seleucid Kingdom.
It is likely that the city struck silver coinage without an interruption after it changed hands, as it was a very important city in
Phoenicia.
However, the Seleucids discontinued a Ptolemaic mint in
Jaffa.
In
Greece, Ptolemaic coinage mainly originates from the
Peloponnese and
Euboea.
Corinth did not strike Ptolemaic coinage during its brief subordination to the kingdom.
Cyprus had many important mints, and the island struck large amounts of Ptolemaic coinage from 200 BC to 80 BC.
Cyprus was also richer in silver than Egypt.
In the second century BC, most of the Cypriot coinage are easily identifiable and datable because they include abbreviations for mints and dates for both gold and silver coinage. Cypriot mints from this period include
Salamis (abbr. ΣA),
Kition (abbr. KI) and
Paphos
Paphos ( el, Πάφος ; tr, Baf) is a coastal city in southwest Cyprus and the capital of Paphos District. In classical antiquity, two locations were called Paphos: Old Paphos, today known as Kouklia, and New Paphos.
The current city of P ...
(abbr. Π, and later as ΠA). Meanwhile, at
Crete
Crete ( el, Κρήτη, translit=, Modern: , Ancient: ) is the largest and most populous of the Greek islands, the 88th largest island in the world and the fifth largest island in the Mediterranean Sea, after Sicily, Sardinia, Cypru ...
, there was no royal coinage in use, and Cretan cities had a strong autonomy of minting their own coins.
There are no evidence that Ptolemaic mints existed in
Asia Minor
Anatolia, tr, Anadolu Yarımadası), and the Anatolian plateau, also known as Asia Minor, is a large peninsula in Western Asia and the westernmost protrusion of the Asian continent. It constitutes the major part of modern-day Turkey. The re ...
. Furthermore, regions such as
Cilicia and
Lycia had no autonomous mints striking local currency. It seems that there was little circulation of Ptolemaic currency in
Caria, Lycia,
Pamphylia and Cilicia. Local Pamphylian silver coinage was discontinued under Ptolemaic control. It is likely that people in southern Asia Minor simply did not have a habit of using coinage in everyday economic transactions.
History
Background
Silver was scarcer than gold in Egypt, and the exact ratio of their value is unclear. Silver was however probably shipped in significant quantities from abroad.
In addition, Ptolemaic Cyprus produced some silver for coinage struck locally.
Coinage was not used in Egypt during pre-Ptolemaic
native dynasties. It has been deduced from discoveries of ancient foreign coinage in Egypt that foreign currency was used as
bullion
Bullion is non-ferrous metal that has been refined to a high standard of elemental purity. The term is ordinarily applied to bulk metal used in the production of coins and especially to precious metals such as gold and silver. It comes from the ...
rather than as money during the native dynasties.
During Ptolemaic rule, Egypt transformed from a widely currency-free society to a largely monetized one by the course of the third century BC. King
Ptolemy II Philadelphus
; egy, Userkanaenre Meryamun Clayton (2006) p. 208
, predecessor = Ptolemy I
, successor = Ptolemy III
, horus = ''ḥwnw-ḳni'Khunuqeni''The brave youth
, nebty = ''wr-pḥtj'Urpekhti''Great of strength
, golde ...
had a marked influence in the process. Greek rule monetized Egyptian taxation, and this was one of the key reasons for the success of the Ptolemaic state. Before the Ptolemaic period, metals such as copper, and grain, were used as mediums of exchange. Ptolemaic rule brought, in addition to the coinage, banks and tax farming to the country. However, even centuries earlier, increasing trade with Greece seemingly had strengthened the process of monetization. Founding of the Greek trading colony of
Naukratis
Naucratis or Naukratis (Ancient Greek: , "Naval Command"; Egyptian: , , , Coptic: ) was a city and trading-post in ancient Egypt, located on the Canopic (western-most) branch of the Nile river, south-east of the Mediterranean sea and the city ...
had coincided with the strengthening trade relations.
Monetary isolation
The Ptolemaic Kingdom did not use the Attic weight, or Attic standard, which was very common in other contemporary
Hellenistic
In Classical antiquity, the Hellenistic period covers the time in Mediterranean history after Classical Greece, between the death of Alexander the Great in 323 BC and the emergence of the Roman Empire, as signified by the Battle of Actium in 3 ...
states such as the
Seleucid Kingdom
The Seleucid Empire (; grc, Βασιλεία τῶν Σελευκιδῶν, ''Basileía tōn Seleukidōn'') was a Greek state in West Asia that existed during the Hellenistic period from 312 BC to 63 BC. The Seleucid Empire was founded by the ...
. Instead, the Ptolemaic Kingdom used Phoenician weight, which was smaller than the Attic weight. Consequently Ptolemaic coinage was smaller than coins used by other Hellenistic states.
The kingdom also briefly utilized
Rhodian standard
Ancient Rhodian coinage refers to the coinage struck by an independent Rhodian polity during Classical and Hellenistic eras. The Rhodians also controlled territory on neighbouring Caria that was known as Rhodian Peraia under the islanders' rule. ...
in the transition process to the Phoenician weight. A possible reason for this very brief usage of the Rhodian weight in coinage may have resulted from strong commercial ties with the island of Rhodes.
However, it is important to note that the Rhodian standard was lighter than Attic but heavier than Phoenician weight. As a result, the process shows a clear downward scale in size of the coinage. Despite this coincidence, political reasons and trade partnerships are still offering better explanations than a proposed theory that value of silver was in appreciation during Ptolemy I's reign.
During most of the Ptolemaic Kingdom's history, it was a policy that all foreign coinage within Egypt would be confiscated by the state and replaced with Ptolemaic currency. Parallels between
Athens and the Ptolemaic Kingdom can be drawn as Athens attempted to introduce a sole currency in its empire. The Ptolemaic Kingdom forced its own monetary system to its foreign dominions. In rare cases, where cities under Ptolemaic dominion were allowed to keep their local currency, the cities were still forced to convert their currency to Phoenician weight.
One such instance was the
Jewish community in
Palestine
__NOTOC__
Palestine may refer to:
* State of Palestine, a state in Western Asia
* Palestine (region), a geographic region in Western Asia
* Palestinian territories, territories occupied by Israel since 1967, namely the West Bank (including East J ...
, as they were allowed to mint coins with the names of their magistrates.
However, the local Jewish currency effectively disappeared by the third century.
In comparison, neighboring Seleucid Kingdom's policy was less strict in imposing the royal control on mints.
During the reign of
Ptolemy I Soter, the founder of the kingdom, diverse local currencies were allowed to exist. They may even have been encouraged. The exact date of elimination of non-Ptolemaic coinage varies by region.
As early as during Ptolemy I's reign, the closed nature of Ptolemaic monetary system started to form.
In Egypt and Syria, Ptolemy I discontinued local coinage, which had Alexander the Great's image struck in them, after feeling secure in power.
Such coinage with Alexander on them were very common in the successor states of the
Macedonian Empire
Macedonia (; grc-gre, Μακεδονία), also called Macedon (), was an ancient kingdom on the periphery of Archaic and Classical Greece, and later the dominant state of Hellenistic Greece. The kingdom was founded and initially ruled by ...
.
Cypriot coinage was eliminated when the local monarchies ceased to exist. In
Cyrene it took even longer to eliminate municipal coinage. In
Crete
Crete ( el, Κρήτη, translit=, Modern: , Ancient: ) is the largest and most populous of the Greek islands, the 88th largest island in the world and the fifth largest island in the Mediterranean Sea, after Sicily, Sardinia, Cypru ...
the local currency was never suppressed. Uniformity of the currency was sought flexibly, yet opportunistically.
As it became increasingly difficult to obtain silver for the Ptolemaic kingdom, bronze coinage largely replaced silver in Egypt. Furthermore, monetary isolation was increased by other factors, like considerable inflation and the use of a unique standard to replace the Attic weight.
Early Ptolemaic silver coinage was struck from pure silver, but by the time of
Cleopatra VII
Cleopatra VII Philopator ( grc-gre, Κλεοπάτρα Φιλοπάτωρ}, "Cleopatra the father-beloved"; 69 BC10 August 30 BC) was Queen of the Ptolemaic Kingdom of Egypt from 51 to 30 BC, and its last active ruler.She was also a ...
it had suffered a very large degree of
debasement. Despite of the economic difficulties in the Ptolemaic realm, economically notable debasement began in 136 BC. After Cleopatra VII's economic reform in 51 BC a type of
stater that was only one third silver was issued.
Roman era
After the demise of the Ptolemaic Kingdom, Egypt became a
province of the
Roman Empire
The Roman Empire ( la, Imperium Romanum ; grc-gre, Βασιλεία τῶν Ῥωμαίων, Basileía tôn Rhōmaíōn) was the post-Roman Republic, Republican period of ancient Rome. As a polity, it included large territorial holdings aro ...
, but silver coinage struck by the Ptolemies still continued to circulate. The Ptolemaic silver coinage had mostly disappeared by the time of
Emperor Nero
Nero Claudius Caesar Augustus Germanicus ( ; born Lucius Domitius Ahenobarbus; 15 December AD 37 – 9 June AD 68), was the fifth Roman emperor and final emperor of the Julio-Claudian dynasty, reigning from AD 54 unt ...
(AD 54-68), probably melted down and restruck as
Roman provincial coinage. Under Roman control, Egypt retained the closed monetary system, as it had been under Ptolemies. Roman
denarii
The denarius (, dēnāriī ) was the standard Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the antoninianus. It continued to be minted in very s ...
and
aurei
The ''aureus'' ( ''aurei'', 'golden', used as a noun) was a gold coin of ancient Rome originally valued at 25 pure silver ''denarii'' (sin. denarius). The ''aureus'' was regularly issued from the 1st century BC to the beginning of the 4th cen ...
did not circulate in provincial Egypt.
See also
*
Egyptian gold stater
The gold stater ( Egyptian: ''nfr-nb'', "Nefer- nub", meaning "fine gold") was the first coin ever minted in ancient Egypt, around 360 BC during the reign of pharaoh Teos of the 30th Dynasty.
Under Teos
Teos introduced the gold stater in orde ...
*
Rhodian coinage
*
Coinage of Side
*
Coinage of the Kingdom of Pontus
The history of the coinage of the Pontic Kingdom probably began during reign of Mithridates II of the Kingdom of Pontus. Early Pontic coinage imitated coinage with Alexander the Great's portraits. Later coinage is well known for its high decree ...
*
Seleucid coinage
References
Bibliography
*
*
External links
Digital Library of Classical Numismatics Works: Ptolemaic CoinageCoins of the Ancient Egyptians - Ptolemaic Dynasty: 323 to 30 BCThe PtolemAE Project
{{Hellenistic coinage
Coins of ancient Greece
Currencies of ancient Africa
Ptolemaic Kingdom