Hemidrachm

The Thessalian League's federal coinage of this period reflects one of the earliest sustained experiments in Greek interstate monetary cooperation, where individual poleis subordinated their civic minting traditions to a shared federal issue. The arrangement was politically fragile — Thessaly's aristocratic tagoi exercised loose authority over member cities, and the federation dissolved and reformed repeatedly across the fifth century.

BCD Thessaly II#13 places this hemidrachm among the earliest attributable federal issues, predating the disruptions of the Peloponnesian War that would fragment Thessalian political coherence considerably.