The Enigmatic ΠΛEI Series

391, Lot: 132. Estimate $100. Sold for $200. This amount does not include the buyer’s fee.

THESSALY, Larissa. Circa 365-356 BC. AR Hemidrachm (15mm, 2.84 g, 5h). Head of the nymph Larissa right, wearing earring / ΛΑΡ[Ι], bridled horse left, about to lie down; plant on groundline, [Π]ΛEI in exergue. BCD Thessaly II 273; HGC 4, 465. Near VF, toned, granular surfaces.

From the BCD Collection.

A note from BCD Thessaly II: The ΠΛEI drachms and their fractions constitute an intriguing departure from the mainstream material that comes after the Early facing heads. Their date must precede most, if not all, Middle and Late facing types, also because all fractions have their obverse in profile. The size of the letters precludes the possibility that they are an artist’s signature and if there was a mint in Thessaly starting with these letters, it could be claimed that they are a joint issue. Perhaps they are a special group minted for a particular purpose and subsidized by a rich sponsor whose name starts with these letters. Thomas R. Martin, in his article “The Chronology of the Fourth-Century B.C. Facing Head Coinage of Larissa,” in Museum Notes 28 (1983), p. 31-32, esp. notes 108 and 109, conjures up a Tyrant (archon) whose name did not come down to us and who seized power in Larissa for a short time, around 375 BC. It would be nice if an inscription was found that confirms this theory but for the time being, as Martin himself admits, it can only be speculation.