For coin collectors, the acquisition of Persian coins is not only a fun and potentially lucrative hobby, but it’s also a window into a time, place, and culture that is unfamiliar to many of us. In recent years, that region is best known as a collection of squabbling countries that struggle to function efficiently and have enormous disparities between the haves and have nots. But times change, and it wasn’t always like this.The Middle East of today is a very, very different place than its counterpart in the ancient world.

Acquisition of Persian Coins

Ancient Persia was a surprisingly progressive place. When the Persian Empire conquered a region, standard operating procedure was to let the inhabitants continue to live their lives and practice their religions as they had before. They were also granted equal rights, providing they paid their taxes. As forward-thinking as they were, they were still an Empire, and empires grow through war. The Persians frequently did battle with Greek city-states, and they needed to hire Greek mercenaries. However, these mercenaries expected their payment in coin, rather than barter. As a result, the Persians developed a monetary system based on coinage.

King Darius I

Their king, Darius I, did what so many monarchs have done before or since. He ordered coins to be printed that prominently bore his likeness. These coins were known as “darics.” For the ancient world, the daric was a big deal. It was one of the most recognizable coins around, it was the first coin to be used internationally and in a widespread basis, and it was the earliest coin that appeared in The Old Testament. Darius may have commissioned the creation of the daric purely for practical purposes, but it is unknown if he realized that he single-handedly altered the economics of the ancient world.

For approximately 185 years, darics were minted. They portrayed Darius in either a running or kneeling position. He frequently held a bow, which is why the Greeks often referred to them as “toxotai,” or archers. There may have been a long-term concern about the currency becoming devalued, since the Persians were highly focused on their purity. When they were struck, daric coins were often between 98%-99% gold.

However, the depictions of Darius were frequently crude. Given that, for a long period of time, the Persian Empire was known for its detailed and impressive artistry, it is a bit of a mystery as to why the engravings were substandard for so long. During the 185 year time frame when darics were minted, their design went mostly unchanged, which suggested a conservative mindset towards artistic changes. However, during a brief artistic renaissance, a few rare examples of quality depictions were made. During this time, these Daric designs were often elegant, with a natural understanding of the human form.

End of the Persian Empire

The reign of the Persian Empire came to an end in 329 BC with the arrival of Alexander the Great. He had conquered the “known” world, and his boot was firmly on the throat of Persia, both economically and otherwise. Production of the daric gradually died out, and it was eventually replaced by Alexander’s stater.

But for persistent collectors, darics are still out there. When they are unearthed and admired, it’s easy to imagine for a moment, a time when the Persians were the world’s dominant economic power.