Hekte

Phokaia's electrum hektes circulated under a remarkable interstate agreement with Mytilene on Lesbos — the two cities alternated coin production on a shared schedule, each issuing on a rotating basis rather than minting simultaneously. This arrangement, apparently unique in the Greek world, kept electrum fractions in regional circulation across the eastern Aegean and into Black Sea trade networks throughout most of the fifth and fourth centuries.

The alliance was terminated in 387 BC by the Peace of Antalcidas, which placed the Asiatic Greek cities under Persian authority and effectively ended Phokaia's independent monetary production.