Pre-Long Beach Auction #90

Sicily, Syracuse. Dionysios I. Æ Litra (7.60 g), 405-367 BC. [ΣYPA], head of Athena left, wearing Corinthian helmet decorated with wreath. Reverse: Hippocamp left, reins trailing. CNS 45; SNG ANS 434-46. Green and earthen patina. Choice Very Fine.

The Athena / Hippocamp litrae come in several variations - with and without legend, with and without olive wreath on helmet, with and without a symbol on the obverse, reins trailing and no reins. Calciati notes that this particular variety, with obverse legend and wreath, no symbol and trailing reins, is by far the most common, and also mentions that it is found throughout Sicily, not just in the environs of Syracuse. This wide distribution is anomalous for a bronze coin. Fiduciary in nature, and of minimal value, bronzes did not normally circulate far from their place of minting. Perhaps the reason for the distribution can be found in Dionysios' expansionist policies and nearly perpetual war with the Carthaginians. Like most armies of the period, Dionysios employed mercenaries, and although mercenary armies were paid in silver when they were not on campaign they would certainly need small change.
Estimated Value $250 - 300.