IONIA. Ephesos. Phanes, circa 625-600 BC. Trite (Electrum, 14X10.5 mm, 4.71 g). ΦΑΝΕΟΣ ( retrograde in archaic letters ) Stag grazing to right, with its body ornamented with a lozenge pattern reminiscent of the filling ornaments found on contemporary East Greek painted pottery. Rev. Two irregular square incuses, each ornamented with raised intersecting lines. ACGC 54. Kraay & Hirmer 585. SNG München 14. Weidauer 40. Very rare. Clearly struck and most pleasing. Good very fine.

Apparently once in the collection of a connoisseur from Chicago (private information from S. Schmidt).

This electrum third stater comes from the first series of coins ever to bear a personal name – here that of an otherwise unknown Phanes. The stag was the totem animal of Artemis, the great goddess of Ephesos: whether Phanes was an actual official of the sanctuary, or just a prominent merchant or banker who was responsible for the coins and who, out of piety, honored the goddess by using her familiar animal as the type, is unknown.