Greek Coins
Phaestus
Stater circa 300-270, AR 11.32 g. T – AL – WN Naked Talos, with spread wings, standing facing and holding stone in each hand. Rev. FAISTIWN Bull butting r. Svoronos, Créte, pl. XXIV, 24 (these dies). Le Rider, Monnaies Crétoises, pl. XXIV, 4 (these dies). Dewing 2080 (this obverse die).
Extremely rare and among the finest specimens known. A very interesting and unusual
obverse representation struck in high relief on unusually good metal.
Lovely old cabinet tone and extremely fine Ex Leu 22, 1979, 113 and Triton III, 1999, 464 sales. From the M. A. Sinton collection.

In the early history of the Greeks the island of Crete was of great importance: not only did tradition identify it as the birthplace of Zeus, but the island's Minoan culture was one of the earliest literate civilizations of Greece. Unfortunately, the early Minoan culture had suffered nearly complete destruction by 1200 B.C. and the island never recovered its former Bronze Age glory.

Even after Greece emerged from its Dark Age, Crete was underdeveloped. Indeed, the Cretans did not strike their first coins until at least a century after their trading partners in Central Greece. With a distinctive culture and relative isolation, however, it was certain that when the Cretans began to produce coinage, something intriguing would result.

Probably the main reason the Cretans had not issued coins earlier in their history was because they had no indigenous sources of gold and silver so they had to rely entirely on external sources. Before the time of Alexander III the main supply of coin silver was the ‘turtles’ of Aegina, the powerful maritime state which had established a colony on Crete at Cydonia.

Most early Cretan coins are overstruck on Aegina ‘turtles’ and then later Cretan coins often are overstruck on the earlier Cretan coins, thus producing a third generation of coinage from one planchet. In this respect Crete was truly an island economy, as there was intensive recycling of coinage and little evidence for the export of its own coin types.

With the decline of Aegina, and the rise of the Macedonian Kingdom under Philip II and Alexander III, many new coin types were imported to Crete. Fuelled by a need to replace the dwindling supply of 'turtles', and inspired by the return of Cretan mercenaries from abroad with pay in hand, Crete was poised for a quantum leap in its coinage.

The most prolific Cretan issues were struck at 28 mints in the period 330-280/70 B.C., made possible by the campaigns of Alexander and the wars of his successors, all of which provided wealth and opportunity for Cretan mercenaries. Many Cretan issues are either remarkably original or blatantly imitative of other Greek coins. The level of artistry employed varied so greatly as to contain true masterpieces and barbaric atrocities with inscriptions that often are retrograde. This is equalled in no other area of Greek numismatics and is one of the most engaging aspects of the island’s coinage.

The most remarkable engraving on Crete was done for the city of Phaestus, which produced a series of tetradrachms of great artistry and typology during the first 50 years of the Hellenistic period. The reverses – as here – usually show a bull, but the obverses depict a variety of subjects, including Heracles seated or attacking the Lernean Hydra, the local hero Velchanus seated, and a naked, winged male figure (Talus) holding two round stones, one of which he prepares to hurl.

Talus was a fearsome, winged creature made of bronze who circled the island three times a day in performing his duty to Zeus, who had sent him there to protect Europa. When Talus encountered anyone attempting to land on the island he would capture them and subject them to a fire, into which he would willingly leap, deriving great pleasure in the pain he caused. Though usually successful in his efforts, when he tried to prevent the Argonauts from landing Talus perished, either from the use of witchcraft or a well-aimed arrow from the bow of Heracles.