Greece Athens 440-404 BC AR Tetradrachm NGC Ancients MS

 Strike:  4/5 Surface:  4/5. Well centered with nearly full obverse crest.

The Attica Athens Tetradrachm, struck between 440 BC and 404 BC, is a silver coin renowned as the "Owl" for its depiction of Athena’s sacred bird. Minted during Athens’ peak as a cultural and economic power, particularly during the Peloponnesian War, it features Athena’s helmeted head on the obverse and a standing owl with an olive sprig, crescent moon, and the inscription "ΑΘΕ" on the reverse. Weighing around 17.2 grams and made from Laurion silver, its standardized design and high purity made it a trusted international trade currency, widely circulated across the Mediterranean and imitated in regions like Egypt and the Levant.

The species of owl found on the coin's reverse has been identified as the Athene noctua, the Little Owl, which is native to the Mediterranean sea area. Such creatures stand six to eight inches tall and weigh between 2.5 and 4.5 ounces. The coin’s owl became a lasting symbol of Athenian wisdom and power, with minor die variations offering insights into minting practices and trade networks. The olive sprig, which refers to Athens' primary export of olive oil, ironically serves as a symbol of peace upon a coin that was used to fund wars. The initials "ΑΘΕ" stand for "ΑΘΗΝΑΙΩΝ"—"of the Athenians."

These tetradrachms, refined in style by 440 BC, reflect classical Greek artistry with detailed, elegant depictions of Athena and the owl. They funded Athens’ maritime empire and military efforts, though economic strain late in the war may have led to slight debasement. Found in hoards and prized by collectors, well-preserved examples fetch high prices at auction, especially if the Athena's crest is complete (or nearly so) and the facial features are completely visible. On the reverse, if the owl is well-centered and all details are evident, so much the better!