In the long history of ancient coinage, certain coins stand apart — not merely as currency, but as works of art that capture an entire civilisation's beauty, mythology, and ambition in a disc of silver no larger than a thumbnail. The coins of Syracuse are among the finest ever struck in the ancient world. And at their heart are two images that have captivated collectors and historians for centuries: the serene portrait of Arethusa, and the soaring form of Pegasus.
The Ancient Greek Syracuse Pegasus Coin commemorates one of the most celebrated coin designs in antiquity — a design that tells the story of a city that rose from a Corinthian colony to become one of the most powerful and culturally brilliant cities in the ancient world.
- Syracuse — The Greatest City of the Ancient West
- Arethusa — The Water Nymph of Syracuse
- Pegasus — The Winged Horse of Greek Mythology
- The Corinthian Connection — Why Pegasus Appeared on Syracusan Coins
- The Coin Itself — Portrait and Pegasus
- Syracuse in the Wider World of Ancient Greek Coinage
- Collecting the Syracuse Pegasus Coin Today
- Frequently Asked Questions
Syracuse — The Greatest City of the Ancient West
Syracuse was founded around 734 BC by Corinthian colonists on the eastern coast of Sicily — a large, fertile island at the crossroads of the Mediterranean. From these origins as a colonial outpost, Syracuse grew into one of the largest, wealthiest, and most powerful cities in the ancient world. At its peak, it rivalled Athens in population, military power, and cultural achievement.
The city's natural harbour — one of the finest in the Mediterranean — made it a dominant force in Sicilian and western Mediterranean trade. Its tyrants commissioned magnificent temples, theatres, and public works. Its philosophers, poets, and mathematicians were celebrated across the Greek world. And its coins were regarded as among the most beautiful ever struck.
When Athens launched its catastrophic Sicilian Expedition in 415 BC — one of the greatest military disasters in ancient history — it was Syracuse that defeated it, destroying the Athenian fleet and capturing its army. The city that had begun as a Corinthian colony had become powerful enough to humble the greatest city in Greece.
Ancient Syracuse — founded by Corinthian colonists on the coast of Sicily, it grew into one of the most powerful and culturally brilliant cities in the ancient world.
Arethusa — The Water Nymph of Syracuse
The portrait on the obverse of the Syracuse coin is one of the most celebrated images in ancient numismatics: the head of Arethusa, the water nymph who was the patron goddess of Syracuse, depicted in three-quarter or profile view, her hair elaborately arranged and adorned, dolphins swimming around her head.
The myth of Arethusa is one of the most beautiful in Greek mythology. She was a nymph of the hunt, a companion of Artemis, who bathed in the river Alpheus in the Peloponnese. The river god Alpheus fell in love with her and pursued her. To escape, Arethusa prayed to Artemis, who transformed her into a stream of water. She flowed underground, beneath the sea, and emerged as a freshwater spring on the island of Ortygia — the heart of Syracuse.
The spring of Arethusa still flows on Ortygia today, a freshwater source beside the sea — one of the most remarkable natural phenomena in the Mediterranean, and the mythological foundation of Syracuse's identity. To depict Arethusa on their coins was to declare: this city was born of divine transformation, and its waters are sacred.
The dolphins surrounding her head on the coin are a reference to her journey beneath the sea — and to Syracuse's identity as a maritime city, surrounded by the Mediterranean on all sides.
Pegasus — The Winged Horse of Greek Mythology
On the reverse, Pegasus soars — the most famous horse in Greek mythology, born from the blood of the Gorgon Medusa when Perseus struck off her head. Pegasus was a creature of extraordinary power and divine favour: his hoof-strike on Mount Helicon caused the sacred spring of the Muses to flow, and he carried the hero Bellerophon into battle against the Chimaera.
Pegasus was ultimately tamed by Bellerophon with a golden bridle given by Athena, and together they performed some of the greatest feats in Greek heroic mythology. But Bellerophon's pride eventually led him to attempt to ride Pegasus to Mount Olympus itself — Zeus sent a gadfly to sting the horse, throwing Bellerophon to earth. Pegasus continued to Olympus alone, where he carried Zeus's thunderbolts for the rest of his days.
As a symbol, Pegasus represented divine inspiration, the power of the hero, and the connection between the mortal and immortal worlds. His image on a coin declared that the city which struck it was under the protection of the gods and the favour of the heroic tradition.
The Corinthian Connection — Why Pegasus Appeared on Syracusan Coins
Syracuse was founded by colonists from Corinth — and Pegasus was the defining symbol of Corinthian coinage. The Corinthian stater, one of the most widely circulated coins in the ancient world, bore Pegasus on its obverse and the helmeted head of Athena on its reverse. It was known across the Mediterranean simply as a "colt" — poloi in Greek — because of its Pegasus design.
When Syracuse adopted Pegasus for its own coinage, it was making a deliberate statement of colonial identity and civic pride. We are the children of Corinth. We carry the same divine heritage. But Syracuse added something Corinth never had: the portrait of Arethusa — their own patron nymph, their own mythological foundation, their own artistic genius.
The result was a coin that combined Corinthian heritage with Syracusan identity — and in the hands of Syracuse's master die engravers, it became something that surpassed its Corinthian model entirely.
The Coin Itself — Portrait and Pegasus
The artistry of the Syracuse coin is exceptional by any standard. The obverse portrait of Arethusa — her hair elaborately curled and pinned, dolphins circling her head, her expression serene and otherworldly — is rendered with a naturalism and delicacy that rivals the finest sculpture of the classical period. The die engravers of Syracuse were celebrated in antiquity, and their finest work on the Arethusa portrait represents the pinnacle of ancient coin portraiture.
On the reverse, Pegasus is shown in full flight — wings spread, legs extended, the power and grace of the divine horse captured in miniature relief. The composition is dynamic and immediate, the horse's movement conveying both speed and divine energy.
Our Ancient Greek Syracuse Pegasus collectible replica captures both sides of this iconic design in antique silver finish — a faithful tribute to one of antiquity's most artistically accomplished coin types.
The Syracuse Pegasus coin — Arethusa on the obverse, Pegasus in flight on the reverse, one of the most celebrated coin designs in the ancient world.
Syracuse in the Wider World of Ancient Greek Coinage
The Syracuse Pegasus coin sits alongside the greatest designs in ancient numismatics. The Owl of Athena represented Athenian intellectual and military power across the ancient world. The bee of Ephesus — explored in our article on the ancient Ephesus bee coin — captured six centuries of civic identity. The Chimaera of Sicyon — covered in our piece on the Chimaera and Dove coin — declared the heroic heritage of the Peloponnese.
What sets Syracuse apart is the combination of mythological depth and artistic mastery. The Arethusa portrait, in particular, is regarded by numismatists as one of the finest achievements in the entire history of coin engraving — a miniature masterpiece that captures the divine feminine with a grace and naturalism that would not be surpassed until the Renaissance.
You can explore the full range of ancient Greek coin designs in our Ancient Coins collection.
Collecting the Syracuse Pegasus Coin Today
Authentic ancient Syracuse coins — particularly the celebrated dekadrachms signed by master engravers such as Kimon and Euainetos — are among the most valuable ancient coins in existence, commanding prices at auction that rival Old Master paintings. Even more modest Syracusan issues in good condition are prized by collectors worldwide.
Our Ancient Greek Syracuse Pegasus collectible replica offers collectors a way to engage with this extraordinary artistic heritage directly — to hold a design that represents the pinnacle of ancient coin engraving, to study the Arethusa portrait up close, and to display one of antiquity's most celebrated civic symbols.
Add one to your collection — free worldwide shipping.
Frequently Asked Questions
Who was Arethusa in Greek mythology?
Arethusa was a water nymph and companion of Artemis who, fleeing the pursuit of the river god Alpheus, was transformed into a freshwater spring by Artemis. She flowed underground beneath the sea and emerged on the island of Ortygia at Syracuse — a spring that still flows today. She was the patron goddess of Syracuse and her portrait appeared on Syracusan coins for centuries.
What is the myth of Pegasus?
Pegasus was a winged horse born from the blood of the Gorgon Medusa when Perseus struck off her head. He was tamed by the hero Bellerophon with a golden bridle given by Athena, and together they defeated the Chimaera. Pegasus ultimately flew to Mount Olympus, where he carried Zeus's thunderbolts. He represented divine inspiration, heroic power, and the connection between mortal and immortal worlds.
Why did Syracuse use Pegasus on its coins?
Syracuse was founded by colonists from Corinth, and Pegasus was the defining symbol of Corinthian coinage. By adopting Pegasus, Syracuse declared its Corinthian colonial heritage and civic pride. Combined with the portrait of Arethusa — their own patron nymph — the result was a coin that expressed both inherited identity and distinctive Syracusan artistic genius.
Why are Syracuse coins considered so beautiful?
The die engravers of Syracuse were celebrated in antiquity for their extraordinary skill. The Arethusa portrait — with its elaborate hair, surrounding dolphins, and serene expression — is regarded by numismatists as one of the finest achievements in the entire history of coin engraving. Some signed dekadrachms by master engravers such as Kimon and Euainetos are considered among the greatest works of art from the ancient world.
What was the Sicilian Expedition?
The Sicilian Expedition (415–413 BC) was a catastrophic Athenian military campaign against Syracuse during the Peloponnesian War. Athens sent a massive fleet and army to conquer Sicily, but Syracuse defeated them decisively — destroying the Athenian fleet and capturing its army. It was one of the greatest military disasters in ancient history and a turning point in the Peloponnesian War.
Is the One More Coin Syracuse Pegasus coin an authentic ancient coin?
No. Our Ancient Greek Syracuse Pegasus coin is a modern commemorative replica inspired by the original ancient Syracusan coin designs. It is not issued by a government mint, not legal tender, and not an investment product. It is produced as a collectible for display and hobby collecting purposes.
Because every collection deserves one more coin.
