A New Look at the Olbia Monetary Reform of the Second Half of the 4th century BC Cover Image
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Новый взгляд на денежную реформу Ольвии второй половины IV в. до Р. Х.
A New Look at the Olbia Monetary Reform of the Second Half of the 4th century BC

Author(s): Mykola Nikolaev
Subject(s): History, Archaeology, Ancient World
Published by: Издательский дом Stratum, Университет «Высшая антропологическая школа»
Keywords: Olbia; second half of the 4th century BC; coins; monetary reform; parallel emission;

Summary/Abstract: The known fact of the resumption of the issue of full-weight coins (with Demeter) in 340—330 BC in Olbia was also accompanied by the issue of its fractions. It is the first series of minted copper (subgr. Iв (Ма), Iг (Мо), IIб (Ро)). The renewal of issue of full-weight copper and its fractions was a consequence of the failure of the decimal reform by the Aristocratids; the population did not accept the reduced “obol series” (gr. 2), apparently, due to insufficient silver coins. In 333 BC, the Aristocratids tried unsuccessfully to legitimize the new monetary system by means of Canob’s decree; the copper and silver of the decree (… τὸν χαλκὸν καὶ τὸ ἀργύριο[ν]…) are “obol series” (ΑΡΙΣ, ΘΕΥ, ΦΙΛΙ, ΜΟΣΧ, ΠΑ, etc.) and silver (ΑΡΙΣ, ΜΟΣΧ). Thus, the traditional hypothesis about the mention of the full-weight copper in Canob’s decree is refuted. Subsequent episodic emission of the “obol series” (gr. 1) in 330—317 BC probably had no effect on monetary circulation; the coins were used to mint the “borysthenes” of gr. 1 until 309 BC.

  • Issue Year: 2023
  • Issue No: 6
  • Page Range: 161-172
  • Page Count: 12
  • Language: Russian