Triton XIX, Lot: 2057. Estimate $5000. Sold for $9000. This amount does not include the buyer’s fee.

SATRAPS of CARIA. Pixodaros. Circa 341/0-336/5 BC. AV Hemistater (12.5mm, 4.15 g, 1h). Persian standard. Halikarnassos mint. Head of Apollo right, wearing laurel wreath / Zeus Labraundos standing right; [ΠI]ΞOΔAPO to right. Konuk, Identities 31; Babelon, Perses –; Traité II 108; cf. SNG von Aulock 2372 (quarter stater); cf. SNG Kayhan 897 (quarter stater); BMC 1. EF, toned. Extremely rare.

From the collection of Dr. Lawrence A. Adams. Ex Leu 83 (6 May 2002), lot 339; Classical Numismatic Group XXVIII (8 December 1993), lot 176; George and Robert Stevenson Collection (Classical Numismatic Group XXVI, 11 June 1993), lot 111; Leu 45 (26 May 1988), lot 232; Münzen und Medaillen AG 53 (29 November 1977), lot 113.

The gold coinage of Pixodaros, struck in multiple denominations on the Persian standard, is the sole coinage struck in that metal by any of the Carian satraps. The hemistaters are the largest denomination of this coinage and are particularly rare compared to the smaller fractions. It is unknown whether a specific event prompted the introduction of the gold issues, but Konuk (supra) proposes that it may have been due to a shortage of silver, a situation that began under Pixodarus’ predecessor, Hidrieus. The use of gold in the economy at that time would not pose much difficulty, as a twelfth stater would equate to a silver didrachm.