The phoenix (Greek: φοίνιξ, foinix) was the first currency of the modern Greek state. It was introduced in 1828 by Governor Count Ioannis Kapodistrias and was subdivided into 100 lepta. The name was that of the mythicalphoenix bird and was meant to symbolize the rebirth of Greece during the still ongoing Greek War of Independence. The phoenix replaced the Ottomankuruş (called grosi γρόσι, plural γρόσια grosia by the Greeks) at a rate of 6 phoenixes = 1 kuruş.
Silver one-phoenix coin, minted in Aegina by Count Ioannis Kapodistrias. Dated 1828. Obverse: phoenix rising from the ashes below a cross, symbol of the newly reborn Orthodox Christian Greek state, inscription 'ΕΛΛΗΝΙΚΗ ΠΟΛΙΤΕΙΑ' ('Hellenic State'). The letters αωκα represent 1821, the date of the Greek Declaration of Independence, in the Ancient Greek numeral system. The small anchor was the Aegina mint mark. Reverse: denomination '1 ΦΟΙΝΙΞ' ( '1 phoenix') inscription: 'ΚΥΒΕΡΝΗΤΗΣ Ι.Α. ΚΑΠΟΔΙΣΤΡΙΑΣ' ('Governor I.A. Kapodistrias')
The creation of a national currency was one of the most pressing issues for the newborn Greek state, so that the monetary chaos reigning in the country could subside. Prior to the Phoenix's introduction, transactions were settled with a wide variety of coins, including the kuruş; coins from major European states, such as France, Britain, Russia and Austria, were also popular. Therefore, minting the phoenix was one of Governor Kapodistrias' greatest priorities, and he signed a decree authorising it on 12 April 1828. The Russian Imperial government lent Kapodistrias' administration 1.5 million roubles to start the project.
Minting the PhoenixEdit
Kapodistrias made Alexandros Kontostavlos responsible for minting the Phoenix. Kontostavlos travelled to Malta, where he negotiated the purchase of several coin presses, originally owned by the Knights Hospitaller. The machines were brought to Aegina.
The dies for the Phoenix were carved by Chatzigrigoris Pyrobolistis, an Armenian jeweller, and the first sample coins were produced on 27 June 1829, in the agreed denominations of 1 phoenix, 20 lepta, 10 lepta, 5 lepta and 1 lepton. The use of the phoenix as a symbol of rebirth is also found on the flag of Alexander Ypsilanti's Sacred Band. On 30 June 1829 the National Mint was founded, and production of coins continued. 1 October 1829 was set as the official launch date for the new currency. All phoenixes were minted at the National Mint of Aegina, which continued to operate until 1833. Coincidentally, Aegina is where the first ancient and modern Greek coins were minted – the staters of Aegina were minted in around 700 BC and were the first to circulate in the Ancient Greek world.[1]
DemiseEdit
Only a small number of coins were minted, estimated to just under twelve thousand[2] and most transactions in Greece continued to be carried out in foreign currency at a rate fixed by the newly established Committee of Economy. Lacking precious metals to mint more coins, the government in 1831 issued an additional 300,000 phoenixes as paper currency with no underlying assets to back them. As a result, the paper notes were universally rejected by the public. In 1832, with the arrival of King Otto as King of Greece, the currency system was reformed and the Drachma was introduced to replace the Phoenix at par - 1 Drachma = 1 Phoenix.
ReferencesEdit
^Stratoudakē, Geōrgiou (2002). Ta Hellēnika nomismata : [1828-2002]. Athēna: G. Stratoudakēs. pp. 5–6. ISBN960-91397-3-6.
Wikimedia Commons has media related to Phoenix (Greek currency).
National Mint of Aegina (in Greek)
August 31, 2023
phoenix, currency, phoenix, greek, φοίνιξ, foinix, first, currency, modern, greek, state, introduced, 1828, governor, count, ioannis, kapodistrias, subdivided, into, lepta, name, that, mythical, phoenix, bird, meant, symbolize, rebirth, greece, during, still, . The phoenix Greek foini3 foinix was the first currency of the modern Greek state It was introduced in 1828 by Governor Count Ioannis Kapodistrias and was subdivided into 100 lepta The name was that of the mythical phoenix bird and was meant to symbolize the rebirth of Greece during the still ongoing Greek War of Independence The phoenix replaced the Ottoman kurus called grosi grosi plural grosia grosia by the Greeks at a rate of 6 phoenixes 1 kurus Phoenixfoini3 Greek Silver one phoenix coin minted in Aegina by Count Ioannis Kapodistrias Dated 1828 Obverse phoenix rising from the ashes below a cross symbol of the newly reborn Orthodox Christian Greek state inscription ELLHNIKH POLITEIA Hellenic State The letters awka represent 1821 the date of the Greek Declaration of Independence in the Ancient Greek numeral system The small anchor was the Aegina mint mark Reverse denomination 1 FOINI3 1 phoenix inscription KYBERNHTHS I A KAPODISTRIAS Governor I A Kapodistrias DenominationsSubunit 1 100Lepton Lepton Plural Lepton Lepton Lepta Lepta DemographicsDate of introduction1828Replaced byDrachmaUser s GreeceIssuanceCentral bankGreeceThis infobox shows the latest status before this currency was rendered obsolete Twenty lepta coinState note for fifty phoenixes Contents 1 Introduction 2 Minting the Phoenix 3 Demise 4 References 5 External linksIntroduction EditThe creation of a national currency was one of the most pressing issues for the newborn Greek state so that the monetary chaos reigning in the country could subside Prior to the Phoenix s introduction transactions were settled with a wide variety of coins including the kurus coins from major European states such as France Britain Russia and Austria were also popular Therefore minting the phoenix was one of Governor Kapodistrias greatest priorities and he signed a decree authorising it on 12 April 1828 The Russian Imperial government lent Kapodistrias administration 1 5 million roubles to start the project Minting the Phoenix EditKapodistrias made Alexandros Kontostavlos responsible for minting the Phoenix Kontostavlos travelled to Malta where he negotiated the purchase of several coin presses originally owned by the Knights Hospitaller The machines were brought to Aegina The dies for the Phoenix were carved by Chatzigrigoris Pyrobolistis an Armenian jeweller and the first sample coins were produced on 27 June 1829 in the agreed denominations of 1 phoenix 20 lepta 10 lepta 5 lepta and 1 lepton The use of the phoenix as a symbol of rebirth is also found on the flag of Alexander Ypsilanti s Sacred Band On 30 June 1829 the National Mint was founded and production of coins continued 1 October 1829 was set as the official launch date for the new currency All phoenixes were minted at the National Mint of Aegina which continued to operate until 1833 Coincidentally Aegina is where the first ancient and modern Greek coins were minted the staters of Aegina were minted in around 700 BC and were the first to circulate in the Ancient Greek world 1 Demise EditOnly a small number of coins were minted estimated to just under twelve thousand 2 and most transactions in Greece continued to be carried out in foreign currency at a rate fixed by the newly established Committee of Economy Lacking precious metals to mint more coins the government in 1831 issued an additional 300 000 phoenixes as paper currency with no underlying assets to back them As a result the paper notes were universally rejected by the public In 1832 with the arrival of King Otto as King of Greece the currency system was reformed and the Drachma was introduced to replace the Phoenix at par 1 Drachma 1 Phoenix References Edit Stratoudake Geōrgiou 2002 Ta Hellenika nomismata 1828 2002 Athena G Stratoudakes pp 5 6 ISBN 960 91397 3 6 L Krause A Karamitsos Krause Chester L Clifford Mishler 1991 Standard Catalog of World Coins 1801 1991 18th ed Krause Publications ISBN 0873411501 Pick Albert 1994 Standard Catalog of World Paper Money General Issues Colin R Bruce II and Neil Shafer editors 7th ed Krause Publications ISBN 0 87341 207 9 External links Edit Greece portal Money portal Numismatics portal Wikimedia Commons has media related to Phoenix Greek currency National Mint of Aegina in Greek Retrieved from https en wikipedia org w index php title Phoenix currency amp oldid 1171808649, wikipedia, wiki, book, books, library,
