NOMISMA
NOMISMA
COURSE E5

Deciphering the Images
and Text on Coins

Iconography — Learning to Read the Power and Faith on a Single Coin

Source photo
Denarius with portrait of Caesar

Denarius with Caesar's portrait. 44 BC, Rome. A Roman coin on which Caesar had his own portrait struck while he was still alive. Until then, Roman moneyers had depicted gods and ancestors. There were precedents for the faces of living men in the East with Flamininus and Sulla; Caesar is considered the third example. This face, which circulated with the inscription CAESAR, appeared to the Republic—which had expelled its kings five hundred years earlier—as the return of a king. Iconography is not decoration—this single coin embodies the theme of this entire book.
Source: ANS / CC0 (NOMISMA's object ledger Denarius with Caesar's portrait)

TEXTBOOK 07 / First Edition(2026)
BIG QUESTION

Who is that one coin addressing,
and what is it telling them?

This Volume in 3 Minutes

  • The image is not decoration, but the signature of the guarantor. Who is depicted indicates who provides the guarantee.
  • The first coins do not have human faces. Beasts, blank, or gods—the temple was one of the authorities that guaranteed a coin's value.
  • Over time, the face on coinage shifted from god to man. However, the sequence differed by region—Persian satraps, Ptolemy, and Caesar each had their own living faces struck. In early modern France, the teston brought back the king's realistic face.
  • What is not depicted can sometimes speak more powerfully than what is. However, there is more than one reason for an 'absence' — do not assert, but question.
  • There are three distinct traditions of faceless coinage (Islamic, republican, and the Sinosphere). Do not explain the same form with the same cause.
  • A coin is the smallest proclamation, reaching every palm in the land. Usurpers, rebels, and puppet regimes all chose the same means.
  • An enemy's script can be borrowed in three stages — copying, claiming, and incorporating. The depth of borrowing is a measure of the depth of understanding of the other.
  • Behind every image is the hand that engraved it — the signed antiquity, the anonymous Middle Ages, the modern era where the name returns. The history of the hand is also part of numismatic history.
  • Therefore, this book always begins each chapter by examining an actual object. Obverse and reverse are a pair, the blank space is also information — the coin in your hand is the primary source.

Table of Contents

  1. PROLOGUELearning to Point
  2. 1In the Beginning, the Guarantor Was a God
  3. 2Deified, Then Depicted
  4. 3The Living Face — Struck, Two Months
  5. 4The Peoples Who Discarded the Face — Three Separate Reasons
  6. 5The Return of the King's Face, and the Face That Stopped Time
  7. 6The Small Proclamation — Coins as Propaganda
  8. 7Speaking in the Enemy's Script — The Three Stages of Borrowing
  9. 8The Lineage of the Engraving Hand — Signed, Anonymous, Named
  10. EPILOGUEWhat Remains at the End
  11. Back MatterOBJECTS / PEOPLE / TIMELINE / DATA / SOURCES
PROLOGUE

Learning to Point

First, Look
  • Look again at the coin on the cover. See not just the central profile, but also what surrounds the face.
  • Where does the text along the edge begin and end? Where are the empty spaces?
  • Then ask yourself — about this coin, which parts can I point to and talk about?

Before reading the iconography, let's learn the names of the parts. This isn't about memorization. It's enough to be able to point to them.

Names of the Parts of a Coin Legend Text along the edge. If readable, it can narrow down the date. Type The central subject. Face, beast, coat of arms. Field The empty space. This is also information. Edge Notches or text. A measure against clipping. Mint mark Indicates where it was struck. Date Often absent. Symbol Mark of the official or workshop. Reverse Read as a pair with the obverse. Never look at only one side.
Diagram Z-1: Names of the Parts of a Coin. Terminology is not for memorizing, but for being able to point. Knowing the locations prevents confusion when reading descriptions.Source: Course E5, Lecture 1 (General numismatic terms. Based on the explanations in each volume and the glossary)

Only two things are important.

Don't look at only one side. Obverse and reverse create meaning as a pair. The king's face on the obverse, a temple on the reverse. The obverse tells 'who', the reverse tells 'by what authority'. One side is only half the story.

Read the blank spaces, too. An empty area is not nothing. It is the result of a choice not to fill it with text, not to make the image larger. The earliest Lydian coins have no image at all. The blankness itself is a record of its time.

Source photoElectrum trite (obverse)
Trite (obverse) — Lion punch
Source photoElectrum trite (reverse)
Trite (reverse) — Incuse punch mark
Let's read from the very first coin. A Lydian electrum trite (610–560 BC, 13 mm diameter). King Alyattes of Lydia struck a lion emblem on electrum, a natural alloy of gold and silver panned from the Pactolus River. Analysis shows the gold content is 54%. The interpretation of scholar Kroll is that the one who struck the mark determined its value, and this is considered one of the earliest coins ever invented. In the terms of Diagram Z-1, only the "type" (the lion) exists—there are no inscriptions or dates yet. Absence is also a record. The story of its birth is detailed in Issue No. 4, "Comparing the Origins of Money."
Source: CNG coins / CC BY-SA 3.0 (NOMISMA's object ledger Electrum trite)

This book deals with the images and text on coins. The first four chapters are a history of faces: how the guarantor was first a god, the step of hesitation that was deification, the appearance of living faces, and the three lineages that abandoned faces. The last four chapters are about the art of reading: reading coins as proclamations, gauging the depth of borrowing, and remembering the hand that engraved them.

This book is TYPE B — Object Observation. Each chapter begins with a 'First, Look' box and ends with a single line: 'In-Hand Confirmation'. Look before you read, and look again after you have read. That is how to read this book.

Who is that one coin addressing, and what is it telling them?
Sources — Course E5, Lecture 1 (Names of parts; obverse and reverse as a pair; reading the blank spaces); object ledger Electrum trite
CHAPTER 1

In the Beginning, the Guarantor Was a God

First, Look
  • The two coins below. On the left, the profile of Athena; on the right, an owl — neither is human.
  • The three letters next to the owl, ΑΘΕ. Not a person's name, but read as 'of the Athenians'.
  • The daric further below. It shows the figure of a king drawing a bow — but is this the face of any single individual?

The first coins have no human faces. A beast, a blank, or a god.

Why gods? Because the temple was one of the authorities that guaranteed a coin's value. The iconography was not decoration, but the guarantor's signature. What was first engraved were lions, bulls, and then gods—Athena, Arethusa, Zeus. Who is depicted indicates who is guaranteeing it.

Source photoOwl tetradrachm (obverse) Head of Athena
Obverse — Head of the goddess Athena
Source photoOwl tetradrachm (reverse) Owl and ΑΘΕ
Reverse — Owl and the legend ΑΘΕ
Athenian owl (tetradrachm, 5th century BC). On the obverse, the patron goddess Athena; on the reverse, her sacred bird, the owl, and the legend "of the Athenians". No individual's name is present. In everyday language, they were called "glaukes" (owls), and Aristophanes quipped in 'The Birds', "The owls of Laureion will never desert you." Throughout the 5th century BC, the design was intentionally kept archaic — a conservatism meant to protect its recognition as an international currency. Not changing the image is also a choice of image.
Source: Bibliothèque nationale de France (former Delpierre collection) / Public domain (NOMISMA's specimen ledger Owl Tetradrachm)

So, when a king appears in an image, is it a "face"? Look at the Persian gold coin, the daric.

Source photoDaric (obverse): The Great King with bow and spear
Obverse — The Great King running with bow and spear
Source photoDaric (reverse): Incuse punch mark
Reverse — Incuse punch mark
Daric (c. 510–330 BC, 15 mm diameter). A gold coin established by Darius I as the currency of the empire. Struck on high-purity gold, it depicts only the figure of the Great King running with a bow and spear, and bears no inscription. The Greeks called this gold coin the "archer"—an anecdote remains of a Spartan king who said he was "driven out by archers." The design remained almost unchanged and continued to be struck for about two hundred years until the conquest of Alexander.
Source: Bibliothèque nationale de France / Public domain (NOMISMA's specimen ledger Gold daric)

A figure that remained almost unchanged for two hundred years. The design established by Darius I continued to be struck even as rulers changed. A figure unchanged for two hundred years cannot be the face of a single person. What is there is not an individual's portrait, but a symbol of kingship: "the king who draws the bow." The fact that the Greeks called this gold coin "the archer" and not by a person's name tells us how to interpret it—what was seen was not who someone was, but what someone was.

The Changing "Face" of Currency — An Outline of This Book c. 600 BC Blank, or an animal The earliest electrum coins c. 450 BC The faces of gods Athena, Arethusa, Zeus c. 300 BC The deified king The horns of Ammon (Chapter 2) 44 BC A living person Caesar (Chapter 3) 696 Abandoning the face Gold coins with only text (Chapter 4) The order seen on Greek and Roman coins. The faces of Persian satraps appeared earlier (Chapter 3).
Diagram T-1: The Transition of Guarantors. The sequence itself indicates a change in the nature of power. Over time, the face on coinage shifted from god to man. However, the order and speed varied by region (Chapter 3). And beyond that, those who abandoned faces appeared.Source: Diagram from Course E5, Lecture 2 (General Survey: "Hellenism," "Roman Republic," "Gods and Coinage," etc.)
The owl's design was kept archaic not due to a lack of skill. It was because changing it would mean it was no longer "that usual silver coin" in foreign markets. The conservatism of the imagery supported the credibility of the international currency — the same logic reappears two thousand years later with the Maria Theresa thaler (Chapter 5).
Check in your hand When you see the image on a coin, first ask—not whose face is this, but whose guarantee is this.
Sources — Course E5, Lecture 2 (Guarantee of the temple; the image as a signature); General Survey, "Gods and Currency" section (Lions, bulls, and gods); specimen ledgers Owl Tetradrachm, Gold daric
From here on

This is the end of the free sample

What follows — They made him a god, then put him on the coin, A living face — Struck, two months later, The People Who Abandoned the Face — Three Separate Reasons, The Return of the King's Face, and the Face That Stopped Time, A small proclamation — coins as propaganda, Speaking in the Enemy's Script—Three Stages of Borrowing, The Lineage of the Engraving Hand—Signed, Anonymous, Named, What Remains in the End — is for purchasers (the reference section too).

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