KINGS of MACEDON. Alexander III ‘the Great’. 336-323 BC. AV Distater (21mm, 17.17 g, 8h). Amphipolis mint. Struck under Antipater, circa 325-323/2 BC. NGC Ch MS★, 5/5, 5/5, Fine Style.

CNG Feature Auction 129
Lot: 106.
Closing Date: May 14 2025 11:00 ET

Greek, Gold

Estimate: $ 50 000

BID NOW

KINGS of MACEDON. Alexander III ‘the Great’. 336-323 BC. AV Distater (21mm, 17.17 g, 8h). Amphipolis mint. Struck under Antipater, circa 325-323/2 BC. Head of Athena right, wearing crested Corinthian helmet decorated with coiled serpent, single-pendant earring, and two necklaces / AΛEΞANΔPOY, Nike standing left, holding wreath in extended right hand and cradling stylis in left arm; vertical thunderbolt in left field, ΛO monogram below left wing. Price 191; Troxell, Studies, Group B, 538 (same obv. die); Noe, Sicyon, 7.4 var. (A9/P– [unlisted rev. die]). Fully lustrous. In NGC encapsulation 8232250-001, graded Ch MS★, Strike: 5/5, Surface: 5/5, Fine Style. An exceptional coin, the single finest certified specimen.

Alexander III the Great’s distater was the largest gold coin yet seen in the Greek world, and was tariffed at 40 silver drachms. Although distaters had apparently been struck earlier in Alexander’s reign, the largest output commenced after circa 325 BC, as he was wrapping up his Indian campaign and en route back to Babylon. Around the same time, Alexander formally retired 10,000 of his veterans and sent them home to Macedon with all their accumulated pay over a decade’s service, plus a bonus of a talent, or 6,000 drachms, for each man. The bonus alone represented 15 years of wartime pay, an unimaginable sum to these career warriors. It is tempting to think the gold distaters may have been struck as part of this settlement, as the equivalent of a talent in silver could be paid out rather conveniently in 150 distaters. However, most of the distater mintage took place in Macedon proper, at the mints of Amphipolis and Aigai, rather than at the eastern mints like Babylon or Tarsos along the line of march. Perhaps the impressive new denomination was intended only for senior officers; alternatively, rather than being forced to carry their newfound wealth with them, the soldiers might have been issued a special form of scrip that entitled them to receive full payment once they reached home.

The final winners of all CNG Feature Auction 129 lots will be determined during the live online sale that will be held on 13-14 May 2025. This lot is in Session One, which will begin 13 May at 9 AM ET.

Winning bids are subject to a 22.5% buyer's fee for bids placed on this website and 25% for all others.

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