A few words about Alexander’s mints and coins

Coins with the image of Alexander were widespread and accepted throughout his empire and kept circulating in large numbers long after his death.

Research has revealed that the coins with Alexander's effigy started circulating much later than initially accepted. Until then, the currencies of Philip and Darius were familiar together with those minted by individual cities. We had to wait until after Alexander's victory at Issus in 333 BC to find the first mints to be established in Macedonia, Cilicia, and Phoenicia.

[Map of Alexander's mints (from Meadows 2014, map 1)] 

Frank Holt has made an excellent analysis of the Alexander coins in his book, The Treasures of Alexander the Great. The first coins were silver ones minted in Sidon and Tarsus between October 333 and September 332 BC. Gold coins emerged after his conquest of Tyre in July 332 BC. New mints were established in Asia Minor later on, apparently after his return from India.

During Alexander's lifetime, the known mints striking his coins were spread over 25 different locations such as:

Pella and Amphipolis in Macedonia

Lampsacus and Abydos on the Hellespont

Colophon, Magnesia, Miletus, Teos and Sardes in Asia Minor

Side and Tarsus in Pamphylia
Salamis, Citium, Amathus, Paphos on the island of Cyprus 

Myriandrus, Aradus, Byblos, Sidon, and Tyre on the eastern Mediterranean coast

Alexandria in Egypt

Damascus and Babylon further inland

Each of these mints had its own assigned type. Some produced only one kind of currency, while others could generate a wide scale ranging from small coins to drachms and tetradrachms. It is important to realize that the Alexander coins were minted according to the standard Attic drachma of 4.3 grams and that his tetradrachms weighed 17.2 grams. They helped to spread his image throughout the length and breadth of his empire, from the Eastern Mediterranean to Central Asia.

The silver collected from the Royal Persian treasuries contributed widely to the production of the tetradrachms. It has been estimated that between 333 and 290 BC (which is well after Alexander's death in 323 BC), approximately 60 million tetradrachms were produced, together with 66 million drachms and 12 million gold staters! Just imagine the vast amount of money's impact on the economy!

After the king's death, his successors kept the same currency system in place, although they gradually replaced Alexander's image with their own – still in Alexander-style.

The Numismatic Museum of Athens has a wide range of coins on display to pick our choice from. This trio of tetradrachms, for instance, displays the figures of Philip II on top and underneath in Alexander-style Lysimachos (left) and Ptolemy (right).

In comparison, Seleucos I, here depicted on a coin from the Antalya Museum, carries a more pronounced lion skin still entirely in the Alexander tradition.

Once the Diadochi became king in their own right over their newly delimited territories, their own effigy replaced the Alexander-inspired image, and the reverse of the coins rightfully carried the inscription, Basileus.

For a long time, coins carrying Alexander's image kept circulating because his veteran soldiers were used to receiving their payment in tetradrachms!