Lot 41
KINGS OF MACEDON. Alexander III 'the Great', 336-323 BC. Dekadrachm (Silver, 35 mm, 42.55 g, 2 h), Babylon, circa 325-323. Head of youthful Herakles to right, wearing lion's skin headdress. Rev. ΑΛΕΞΑΝΔΡΟΥ Zeus seated left on high-backed throne, holding long scepter in his left hand and, on his right, an eagle standing to right with closed wings; in the field to left, M; below throne, monogram. HGC 3.2, 909. Price 3600 var. (control marks in different positions). A very rare variety. Toned and in excellent silver, lacking the usual crystallisation. Usual marks an abrasions, otherwise, good very fine.
From the collection of E. Milas, Leu Numismatics 54, 20 May 1992, 86.
These dekadrachms were struck immediately preceding Alexander's death in 323, and were most likely issued, at least in part, in order to give a full Attic Talent - 6000 drachms - to each of the 10,000 veterans Alexander intended to send home. This was a most important gesture since the soldiers had become increasingly unhappy and restive: they had fought for years without respite, they had just returned from Alexander's arduous Indian campaign, and were longing for a return to their homeland. The coins were struck at the mint in Babylon, and hoard evidence shows that the M monogram issue came immediately before that with the ΛΥ monogram; also just prior to issues in the name of Philip III. These dekadrachms are great rarities in Alexander's coinage, the majority of the issue with the M monogram are tetradrachms and staters, which suggests that they were only issued as a form of "prestige" supplement to a payout in the form of more normal coins.
