IONIA. Ephesus. Phanes, ca. 625-600 BC

IONIA. Ephesus. Phanes (ca. 625-600 BC). EL 1/24 stater or myshemihecte (7mm, 0.58 gm). NGC Choice AU 5/5 - 4/5. Forepart of stag left, head reverted / Abstract geometric pattern within incuse square punch. Weidauer -, cf. 38 (hemihecte). Linzalone -, cf. LN1105 (stag right). Very rare. Crisp and clear devices on the mellow flan. Phanes was evidently a Carian or Ephesian minister or aristocrat of the later 7th century BC. The name is known from a rare group of electrum staters and a lesser denominations that bear a stag and the Greek legend "I am the badge of Phanes" or "of Phanes." These are among the earliest coins to bear legends. It has also been speculated that the name refers to a divinity, perhaps Apollo-Phaneos (light-bringer) or Artemis (due to the stag). The Phanes coinage falls into seven denominations, from a full stater down to a 1/96 stater, all featuring the stag in various poses; only the full stater and third-stater or trite are inscribed, but the distinctive rendering of the stag links all denominations of the series to the same issuer. The fact that Phanes is otherwise unattested as a king or satrap indicates the first coins may have been struck by private individuals, rather than governments or royal courts.