An ancient Greek city in modern-day western Turkey was the setting for the finding of gold coins dating back thousands of years. 

Researchers led by University of Michigan archaeologist Christopher Ratté discovered a hoard of gold coins in a small pot buried in the city of Notion. The team dated the ancient coins to the fifth century B.C., according to a news release on Aug. 4.

Excavations of Notion began in 2022, with the gold coins being discovered the following year. The Turkish Ministry of Culture and Tourism recently gave their permission for the discovery to be made public.

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The discovered gold coins display a kneeling archer, which is a “characteristic design of the Persian daric,” per the news release. 

This type of gold coin was one distributed by the Persian Empire, likely produced at Sardis, a location about 60 miles northeast of the ancient Greek city, according to Ratté, who is also director of the Notion Archaeological Project, the group responsible for the coins’ discovery.

The design of the coins, which were made from the late fifth century B.C. up until the conquest of the Persian Empire by Alexander the Great in 330 B.C., remained fairly similar to each other with only slight differences, according to the news release.

The slight changes between coins are paramount to putting the coins in chronological order. The coins found in modern-day Turkey can be dated based on other artifacts that were found along with them, which included fragments of pottery.

“This hoard will provide a firm date that can serve as an anchor to help fix the chronology of the (entire sequence of coins),” Ratté said, per the news release.

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Findings such as this one help historians gain a better grasp on the chronological timeline of the Persian daric and more about its history, though archaeologists aren’t always so lucky with their finds. Sometimes, looters get to the ancient treasure first.

“An archaeological find without contextual information is like a person suffering from amnesia – a person without memories,” Ratté said. “It is still interesting and important, but the loss of knowledge is incalculable.”

This was the case during the excavation of three burial mounds in the Turkish region of Kazakhstan that was announced in May 2024. Archaeologists found that two of the burial mounds were looted, but the third revealed ancient treasures, including gold jewelry. 

Luckily, the discovery of the gold coins provided a lot of valuable information to researchers.

“In the case of this hoard, we know precisely where it was found, and we have a great deal of circumstantial evidence for when it was deposited, probably in the late fifth century B.C.,” Ratté said.

The use of these coins thousands of years ago is thought to be as a means to pay mercenary troops.

“According to the Greek historian Xenophon, a single daric was equivalent to a soldier’s pay for one month,” Ratté said.

The exact series of events that led to the hoard of coins being left behind by its owner is unknown, but many theories suggest an extreme sense of urgency to bury the precious metal and the inability to regain it back. 

“The discovery of such a valuable find in a controlled archaeological excavation is very rare,” Ratté said, according to the press release. “No one ever buries a hoard of coins, especially precious metal coins, without intending to retrieve them. So only the gravest misfortune can explain the preservation of such a treasure.”

The hoard was found in the corner of a room, “presumably stored there for safekeeping and for some reason, never recovered,” according to the archaeologist. 

Military conflict is one theory that could point to the forgotten coins. One event in particular that could have been the reason for the coins being left behind happened between 430 B.C. and 427 B.C., when Persian sympathizers and Greek mercenaries occupied Notion.

During this time, an Athenian general killed pro-Persian mercenaries in the city and Notion fell under Athenian control.

Another event that could explain the gold coins being left in the house is the 406 B.C. naval battle during the conflict between Athens and Sparta. This battle was fought off the cost of the ancient Greek city.

Events such as these could explain why the hoard was never retrieved, according to Ratté.

As of now, the coins are being further studied at the Ephesus Archaeological Museum in Turkey.