Ancient Black Sea Æ Arrowhead Proto-Money

The Black Sea Region began with copper arrowheads that were used as money. This lot of Æ Arrowhead Proto-Money is triangular cast ‘arrowheads’ of varying length. In the 7th century BC, the Greeks also entered Ukraine and established the Milesian colonies of Olbia, Borysthenes, Istros, Odessos, and Apollonia on the western Black Sea coast. These ports were once the central points of exchange and trade between the Greeks and local Scythian and Thracian populations.

This exchange prompted the introduction of pre-monetary items which were shaped into the ubiquitous more common ‘dolphins’ coins and the scarcer ‘arrowheads’ and ‘wheel-coins’ which were all cast in copper. These pieces remained in circulation in the west Pontic area for about two centuries, until being finally replaced by struck coinage.

Recent publications of findings from South Russia, Ukraine, Bulgaria, and Romania limited the circulation area of these proto-monies to the narrow coastal strip along the western/north-western shores of the Black Sea. Some scholars suggested the ‘arrowheads’ were produced there since Apollo, with his bow and arrows, was the main deity who supervised the colonies of Miletus. As a god of archery, Apollo was well known with epithets such as Aphetoros (“god of the bow”) and Argurotoxos (“with the silver bow”).

The cast bronzes of Olbia not only served as a medium of exchange but also reflected the unique economic and cultural interactions in the region. Olbia’s prosperity was intricately tied to its role as a trading hub, facilitating exchanges between the Scythian nomads and Greek settlers.