MACEDON. Koinon of Macedon. Time of Caracalla to Severus Alexander, Circa 212-235/244. Medallion (Gold, 13.5 mm, 3.50 g, 12 h), in the weight of a half aureus or a hemistater, perhaps minted in Beroia. Diademed head of Alexander the Great to right, some locks of his hair flowing over his diadem in the manner of a ram's horn, the hair at the back of his head streaming off behind his head. Rev. ΑΛΕΞΑΝ/ΔΡΟΥ Athena seated to left on throne, leaning her left elbow on her shield and holding Nike in her right hand; behind, transverse spear with point below left. Unpublished save for its previous auction appearance. Apparently unique, a coin of great interest, struck with the types of Lysimachos. A few light scratches in the reverse field, otherwise, extremely fine.

From a European collection, ex Tkalec 26 November 2014, 131.

At first glance this would seem to be a normal coin of Lysimachus, except, of course, it isn't! Not only does the unusual weight make it unlikely to have been struck in the late 4th or early 3rd century BC, its stylistic anomalies make that unlikely too. In the first place, the head of Alexander seemingly lacks its expected horn of Ammon, the hair is rather wild, and the neck truncation is most curious; as for the reverse, the legend break is very odd. What this piece is, in fact, is a form of highly valuable prize medal or donative, produced by the Community of the Macedonians at some time during the 2nd, 3rd or 4th decade of the 3rd century AD. This was a period when there was an immense emphasis placed on Alexander and his times, which was part of great flowering of "national" pride in the great royal hero of the past. Not only did Alexander's image appear on coins of the Koinon, there were gold medallions struck (the Aboukir Medallions for example), which celebrated his life as well as the people and deities who were related to him in some way. Those gold medallions may well have been prizes at the great games that were held at various times during this period, or they may have been donatives for distinguished people (or both). As for this piece, which is so closely based on actual coins of Lysimachos, may have been struck as early as the reign of Caracalla as a kind of deliberately achaizing award, made prior to the more elaborate medallions.

Apparently unique and of great interest