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Lysimacheia was founded by Lysimachus of Thrace around 309 BC on the neck of the Thracian Chersonese, serving as his royal capital after he claimed kingship following the fragmentation of Alexander's empire. The city retained importance well after Lysimachus's death at Corupedium in 281 BC, continuing to strike bronze coinage under shifting Seleucid and later Ptolemaic influence until its destruction by the Thracian Gauls around 220 BC.

Small bronzes of this type circulated as everyday fiduciary coinage within a city whose entire existence spanned barely ninety years.