Triton XVI, Lot: 20. Estimate $200. Sold for $475. This amount does not include the buyer’s fee.

SKYTHIA, Borysthenes. Circa 437-410 BC. Cast Æ (33mm, 3.25 g). Bilobate arrowhead with axial spine and raised edges / Flat surface, upon which is the retrograde legend AP[IX]. Anokhin, Arrowhead, Type III. VF, green-brown patina. Unique example with this legend.

From the Alex Shubs Collection.

This piece was reportedly found in the sea close to Berezan. After 2,500 years in salty water, the reverse is understandably difficult to read; it is only partially visible to the naked eye. This is the sole example of an arrowhead coin with this inscription that is commonly found on the dolphin coins, which subsequently was used on the large asses at Olbia.

The presence of the legend suggests that this coin was made after Borysthenes lost its independence to Olbia, becoming the latter’s emporion. It is possible that production of the arrowhead coins was moved to Olbia after this event, but the lack of the O at the end of the legend, which is present on contemporary dolphin-coins (Anokhin 177–9; see Lot 32, below), and possibly refers to Olbia, suggests that it was not.