Pages: 387-404

The object of study was the first series of Spartocid bronze coins. The fact is that the rulers of the Bosporus, much earlier than other princes of the Hellenistic world, established the emission of credit money from a base alloy. Under Paerisades I and Spartokos III, two series of bronze coins of different denominations (obol, tetrachalkus, dichalkus, chalkus, lepton) were issued. The population actively used credit money, which was accepted by barbarians too. However, bronze coins, ousting gold and silver from circulation, began to depreciate. This was due to both their unrestricted emission and massive falsification of one of the denominations, tetrahalkus. The situation on the monetary market was further complicated due to the Egyptian competition, which significantly reduced the demand for Bosporan bread. As a result, the Bosporus trade elite lost the opportunity to maintain their trade with Mediterranean nomads at the same level. The union of the Bosporus and Scythia ceased to exist. The decline of the Bosporus at that time should be explained by financial shocks and the movement of tribes in the Northern Black Sea region.

Keywords: Bosporan Kingdom, Hellenistic period, numismatics, Spartocids, bronze coins, credit money

Information about author:

Michael Choref (Nizhnevartovsk, Russian Federation). Candidate of Historical Sciences. Nizhnevartovsk State University. Lenin St., 56, Nizhnevartovsk, 628605, Khanty-Mansi Autonomous District — Yugra, Russian Federation
E-mail: [email protected]