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.
Olbia eventually began to adopt cast large bronze coinage of 70mm in diameter and 33mm, which reflected prosperity in trade, for they were like $1,000 bills. The artistic elements on the coins, such as the gorgon’s head and sea eagle, conveyed a fusion of Greek mythological symbolism with local Scythian influences. These Olbian coins were distinctive for their sheer size and weight, indicating a reliance on intrinsic metal value for trade. The economic system of Olbia, reminiscent of early Roman practices, emphasized the tangible value of the metal itself. This stands in contrast to later coinage systems, where coins’ face value became more symbolic than their actual metal content.
The dolphin-shaped smaller denominations and the elaborate imagery on the larger coins suggest a sophisticated approach to coin design. The Olbians engaged in practical trade and expressed cultural and artistic elements through their coinage, showcasing a dynamic blend of Greek and Scythian influences in this remote region of the Black Sea. These and the arrowheads reflected the day-to-day transactions in commerce.
The intermediate Leaf-shaped, trefoil, and triangular cast ‘arrowheads’ are the next size up from the small arrowheads. These tend to be harder to find.
