Macedonian Kingdom. Alexander III 'the Great'. Silver Tetradrachm (16.98 g), 336-323 BC. Babylon, probably struck under Antigonos I Monophthalmos, ca. 315-312 BC. Head of Herakles right, wearing lion's skin headdress. Reverse: BAΣIΛEΩΣ AΛEΞANΔPOY, Zeus seated left, holding eagle and scepter; in left field, MI above lion's head left; below throne, monogram within wreath. SC 82.3; Price 3759; HGC 9, 10f (Seleukos I). Boldly struck in high relief, and with an attractive old collection tone. Extremely Fine. Estimated Value $500 - UP
The present Alexandrine tetradrachm was attributed to the early reign of Seleukos I at Babylon following his return from exile in 312 BC and assigned to a so-called "imperial workshop" by Houghton and Lorber. However, subsequent reassessments of the relationship of this coinage to other issues certainly struck under Seleukos I; the fact that it never names him, but only Alexander; and its primary appearance in western hoards have led to the conclusion that it was probably not struck by Seleukos I after all, but rather by the Antigonid garrison installed in Babylon to hold the city against him in the period 315-312 BC. When the garrison was driven out, the coins moved west with the mercenaries who had been paid with them, and Seleukos was left to begin construction of a great empire that would stretch from the Mediterranean to the borders of India by the time of his death in 281 BC. As such, the tetradrachms (and smaller fractions) of the "imperial workshop" mark a critical turning point in the history of the ancient Near East.
From the Randolph Family Collection.