Bithynia, Cius
Stater, magistrate Agathokles circa 340-330, AV 8.57 g. Laureate head of Apollo r. Rev. AΓAΘO / KΛHΣ Prow of galley l., decorated with star: above, club and in l. field, eagle standing l. Recueil Général 1 and pl. XLIX,1 (this reverse die). De Luynes 2415 var. (different magistrate).
An exceedingly rare variety of an extremely rare type, apparently only twelve specimens
known of which the majority are in private hands. A few unobtrusive marks in field
and an edge mark at nine o’clock, otherwise about extremely fine

Ex New York sale XXVII, 2012, Prospero, 434 sales. Privately purchased from Spink & Son sale on 20 January 1988.
Although the city had struck no coinage earlier, the mint of Kios suddenly struck a series of gold staters and silver fractions in the period c. 340-330 BC. It has been suggested that the new coinage was produced to hire mercenaries in preparation for the Macedonian invasion of the Persian Empire that finally came in 336 BC, an argument further bolstered by a supposed resemblance between the Apollo on the coinage of Kios and the Apollo who appears on the popular gold staters of Philip II. However, the similarity of the Apollos seems illusory—the god has locks falling down the back of his neck on the Kian issues while the Apollo depicted by Philip II actually has short hair. Also problematic for the theory that the coinage was related to hiring mercenaries in support of Alexander the Great’s entry into western Asia Minor is the fact that hoard evidence does not indicate that the coinage of Kios traveled especially far from its region of issue. Since the associated silver issues are primarily struck to the Persic weight standard and therefore probably intended for use locally, one wonders whether the coinage might have been struck to finance the defense of Kios or perhaps even support the Persian fleet. The latter possibility seems to be raised by the prominent naval design used for the reverse of the present gold issue and the associated silver.