Athens’ Owl Coin
Why a 2,500-year-old coin still matters—and why I couldn’t leave it behind.
A few years ago, before I ever made a pendant, I bought a coin. An Athenian tetradrachm: silver, heavy, scarred, and unmistakably alive. It featured Athena on one side—the city’s protector—and an owl on the other. The owl wasn’t decorative. It was the emblem of wisdom, vigilance, and strength. It was also a constant: these coins barely changed over 100 years, a sign of their dominance and clarity.
I wanted to be able to carry this coin with me. So I found a vintage sterling silver box (perhaps this was used for pills). I put the battered coin in there and had it with me for years. Years later, I finally was able to set it in 18k gold.
As you’ve now seen, these coins feature both an owl and a woman: the Goddess Athena. Although the style evolved, the coins retained the same basic design over centuries.
Three owls stacked to highlight the difference in quality and show the irregularity of the edges
The obverse of the tetradrachm featured the head of Athena, who was the patron goddess of the city of Athens. She features a characteristic almond-shaped eye and a stunning decorative scroll on her helmet.
The reverse of the coin featured an image of an owl, which was the symbol of Athens, along with the inscription "Ἀθηναίων", meaning "of the Athenians”.
What is an Athenian Owl?
From around 450–404 BCE, Athens minted silver tetradrachms by the thousands. Each weighed about 17.2 grams—more than three U.S. quarters—and was struck using silver from Athens’ own mines. These coins paid for temples, navies, and eventually, empire.
Some may find little to no appeal in this coin. To me, it evokes Hunter S. Thompson quote:
"Life is not a journey to the grave with the intention of arriving safely in a well-preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming, 'Wow what a ride!'"
These coins circulated far beyond Athens. They were trusted, copied, even faked. Their design stayed consistent because their meaning was clear.
How Did People Tell if They Were Real?
The market was flooded with imitations, some excellent, others crude. So Athens appointed an official “tester” who sat in the Agora. His job? Cut into coins to test if they were solid silver or merely plated. That’s why many genuine owl coins today have slash marks. They were tested in public and judged authentic—2,000 years ago.
Far flung areas imitated the Athenian coins. It is common for collectors to possess an (ancient) counterfeit coin, of the proper weight and silver content. Then there are also counterfeited plated coins.
In 375 BC Athens instituted a “tester” of coins that sat in the Agora. This man would determine the authenticity of coins, discarding the fakes but keeping in circulation the authentic ones and the imitations that had the correct weight and silver content. To ascertain if the coin was solid silver or plated, the tester would slash it. For that reason, many of the surviving tetradrachm and their imitations have such a cut.
What was an owl’s value?
While we don’t have many records, we have some information about the value of Athens’ currency. A mercenary was paid one or two drachmas a day, while a skilled worker was paid a drachma a day. Unskilled workers on the other hand earned half that amount. For instance, a teacher might earn 700 drachmas in a year. A cow could cost between 25 and 50 drachmas, and slaves between 25 and 301 drachmas.
What could be the value of one Athenian owl coin? From the records we have, one could be worth two days pay for a sculptor working on a public project, twelve days of welfare for a poor Athenian, and 24 days of pay for a citizen on a jury. Prices of goods are harder to estimate, but one owl could be 54 days worth of wheat or 37 liters of wine.
A well-preserved owl, showing the helmeted head of Athena on the reverse (struck 454-404 BCE in Athens)
Today? Their price depends on quality and history. You’ll find them from $500 to over $10,000, but what you’re really paying for is presence. This is what ancient value looked like, in your hand.
Why I Finally Set Mine
Eventually, I made the coin into a necklace. I set it in 18k gold and left the surface untouched—the same wear, the same dents, the same history. That’s where its strength lives.
A limited number of authentic Athenian Owl pendants are now available, set in 18k gold, each shipped with a chain and a handwritten legacy note.
They are heavy. Real. Proven to be true, in a world full of fakes.
Wear it like I did: quietly. Every day.
Let it speak for itself.
I currently have a few of these set in 18k gold and sterling silver. Please email me at info@peregrinependants.com if you are interested in owning one.
An owl with various test cuts
