Of Silver and Gold: The Coinage of the Persian Empire

The coins of ancient civilizations are literal treasures that reflect cultural peculiarities and the ways of development of society. Ancient Persian coins represent the diversity and imperial reach of one of history’s greatest nations. Sophisticated designs, precious metals, and notable iconography – what do these numismatic creations hide? 

In this material, we are to explore which features identify these coins, what they may symbolize, when these were minted, and how much they may cost today. Feel free to dive into the history and enjoy the rich legacy of Persian coinage. 

The Origins of Persian Coinage

From the very first day, the economy of Persia was based on commodity exchange, barter, and weighed bullion, with silver being a vital component of trade. The idea of stamped metal money emerged in Lydia, where King Croesus invented electrum coins in the 6th century BCE. Although early Persians mostly used Lydian and Ionian currencies for trade, this practice spread to Persia as Cyrus the Great grew his empire.  

In order to uniformly regulate trade and taxation throughout the empire, Darius I introduced the gold daric (Persian daric coins) and silver siglos. With this change, Persia moved away from its reliance on foreign money and established its own unique imperial currency, which laid the foundation for the development of coinage systems of the Seleucid, Parthian, and Sassani kingdoms.

Related article: 1932 Washington Quarter Value.

The Achaemenid Empire (550–330 BCE)

Now, let us consider each period of coinage development in detail. In 550 BCE, there was founded the great Achaemenid Empire, and it was among the first to have a monetary system that was both centralized and uniform. Coinage is always an effective instrument for government, commerce, and royal propaganda, and this started to flourish under the Darius I reign (522–486 BCE): the empire's main currencies were the gold daric and the Persian silver coins called siglos.

The daric, a Persian gold coin illustrating a king holding a bow and dagger in a characteristic Persian regal stance, was named after Darius. This coin was produced in large quantities and circulated over great distances, from Egypt to India, too. Though similar in design, the siglos, a silver counterpart, bore a well-known Persian royal emblem or a portrait of a ruler.

Coin: Gold Daric of Darius I

Description: A famous gold coin depicting Darius I, often with a bow and dagger

Approximate Value: $5,000–$10,000

The Hellenistic Influence (312–63 BCE)

After the Achaemenid Empire was conquered by Alexander the Great in 330 BCE, Hellenistic culture had a major impact on Persian money. One of Alexander's generals, Seleucus I, founded the Seleucid Empire, which ruled over much of the ancient Persian lands, including Persia, and combined conventional Persian coinage with Greek-style currency.  

During the era of the Seleucid reign, old Persian coins began to feature Greek gods, myths, and inscriptions, with many coins having been modified to represent Greek values, with pictures of Seleucid monarchs like Antiochus I and his successors. Nevertheless, some still retained typical Persian emblems, such as Persian-style regal figures. 

One of the most widespread coins in the region was a silver drachm, which combined aspects of Persian and Greek numismatic traditions altogether. Another way to feel the Hellenistic impact on Persian coinage is to take a look at the adoption of new minting methods, such as finer engraving and the use of finer silver and gold.

Coin: Drachm of Antiochus III (Seleucid Empire)

Description: Diademed head and a palm tree with dates.

Approximate Value: $100–$300

The Parthian Empire (247 BCE–224 CE)

From 247 BCE until 224 CE, the control over Persia was passed to the Parthian Empire. The Parthians, who sprang from the ashes of the Seleucid Empire, aimed to establish their own identity yet preserve Hellenistic culture, too. This is when the Persian numismatics underwent a dramatic change one more time.

Given how important silver was (and is) to trade and business, the silver drachm became the dominant coin of the Empire. As a rule, it features the profile of the reigning monarch wearing an ornate headdress and royal clothing. The reverse generally displayed regal motifs, such as fire altars, royal armor, weapons, and various deities, symbolizing the kings’ role as protectors of the realm  

So as to emphasize the cultural and linguistic diversity of the empire, Parthian Persian ancient coins often featured inscriptions in Greek and Aramaic at the same time. In fact, Aramaic was the common language of the general population and the administrative structure, while Greek continued to be the language of the aristocracy and the government. 

Coin: Silver Drachm of Mithridates II

Description: A detailed portrait of Mithridates II, with royal symbols or an archer on the reverse

Approximate Value: $50–$150

The Sassanian Empire (224–651 CE)

The culmination of Persian coinage fell between 224 and 651 CE and took part in the Sassanian Empire. Their aspirations consisted in the preservation of their national traditions and customs that had thrived during the Achaemenid Empire. The sphere of numismatics was no exception.

Generally speaking, the Sassanian Persian Empire coins were distinguished by their exquisite patterns, e.g., silver drachms. The obverse usually included a detailed portrait of a reigning monarch, often wearing a crown of a particular design. The kings were depicted in profile with facial features drawn in a more vibrant manner than their Parthian predecessors.

The use of Arabic script on the coins throughout the last years of the empire was one of the most notable developments in Sassanian currency. It was the beginning of a new era in Persian numismatics, and these coins bearing the inscriptions of Islamic caliphs became the symbols of the conquest for good.

Coin: Silver Drachm of Shapur II

Description: The coin features Shapur II’s portrait with a fire altar on the reverse

Approximate Value: $100–$300

By the way, should you wish to learn more about numismatic relics of the past, do not hesitate to appeal to professionals. Tools like Coin ID Scanner may bring people from different parts of the world together to identify coins by photos (thanks to an innovative image recognition technology), check for errors, explore the market, keep track of their own collections, and more. Try to start with a 2004 Wisconsin quarter. 

Enter a community of like-minded coin lovers and let your collaboration begin. 

Sources: 

1. https://www.iranicaonline.org/articles/coins-and-coinage-

2. https://www.britannica.com/money/coin/Coins-of-Asia