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Daric - Artaxerxes I / Darius III THE ROYAL COINAGE - 4th type

Issuer Achaemenid Empire
Year 450 BC - 330 BC
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Reference(s) BMC Greek#16, Sunrise#32
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Reverse description Plain, undecorated incuse rectangular punch mark, as struck by a single oblong punch driven into the blank to anchor it during striking. The punch cavity is irregular in outline with no design, legend, or additional decoration, typical of Achaemenid royal gold coinage throughout its production.
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Mintage ND (450 BC - 420 BC) - Type IV A - early (Artaxerxes I - Darius II) -
ND (450 BC - 330 BC) - Type IV (Artaxerxes I - Darius III) -
ND (420 BC - 375 BC) - Type IV B - middle (Darius II - Artaxerxes II) -
ND (375 BC - 330 BC) - Type IV C - late (Artaxerxes II - Darius III) -
Additional information

The fourth-type daric spans the long decline of Achaemenid power, struck continuously through the reigns of multiple kings from Artaxerxes I through Darius III — the last Persian king before Alexander's conquest rendered the entire monetary system obsolete. Athenian mercenaries were paid in darics throughout the fifth and fourth centuries, and Persian gold was explicitly used to finance Spartan naval campaigns against Athens during the Peloponnesian War. The daric was, in effect, a geopolitical instrument.

Darius III was still issuing this type when he fled Gaugamela in 331 BC. Alexander subsequently melted captured Persian treasury stocks — including vast quantities of darics — to fund his own coinage at Susa and Persepolis.

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