625-600 BC Ionia, Ephesus Phanes Electrum Third-Stater NGC Choice Very Fine 4x5

Among the earliest coins ever struck anywhere in the ancient world, the electrum issues of Ionia rank as foundational artifacts of monetary history, and this Third-Stater from Ephesus, attributed to the enigmatic figure Phanes, belongs to one of the most celebrated and debated series in all of ancient numismatics. Produced around 625-600 BC on the Aegean coast of Asia Minor, these coins predate the Persian conquest of Ionia and represent the very dawn of coinage as a medium of exchange. The inscription identifying Phanes, whether a merchant, a mercenary commander, or a civic official, makes this issue uniquely personal among archaic Greek coins.

The obverse presents a spotted stag striding to the right and grazing, a design of remarkable naturalism for its era, with the Greek inscription reading "of Phanes" incused along the field. The electrum surface carries the characteristic warm golden hue of the natural alloy, and the device retains bold definition in the stag's body and antlers despite the coin's archaic fabric. The reverse displays the typical incuse square punch of early Ionian coinage, its compartmentalized mill-sail pattern sharply impressed into the planchet, confirming the hand of an experienced die cutter working at the earliest moments of the coiner's craft.

NGC Ancients has certified this piece Choice Very Fine with a Strike of 4/5 and a Surface of 5/5, an exceptional surface score that speaks to the remarkable preservation of the electrum fabric. The high surface rating is particularly notable for a coin of this antiquity, reflecting minimal post-mint damage and an appealing, unaltered patina. For those drawn to the absolute origins of Western coinage, a certified Phanes Third-Stater with a named inscription is among the most compelling acquisitions in the field of ancient numismatics. The coin pictured is the exact coin you will receive.

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