What Is a Drachm?

A drachm (Greek: δραχμή, drachmē) was an ancient Greek silver coin and a unit of weight. The name derives from the Greek verb drássomai, meaning "to grasp" or "to seize." According to ancient tradition, it referred to a handful of six iron spits (oboloi), which served as an early form of currency before coinage.

By the 6th century BC, the drachm had become the standard silver denomination across much of the Greek world, although different regions followed different weight standards. Although each city-state struck its own coins, the drachm became widely recognized and accepted throughout the Mediterranean.

When Was the Drachm Introduced?

The earliest silver drachms appeared during the 6th century BC, not long after coinage was first developed in Lydia and the Greek cities of western Asia Minor. Major Greek cities, including Athens, Corinth, Aegina, Thebes, and Rhodes, all produced their own versions.

As Greek influence expanded, so did the use of the drachm. Following the conquests of Alexander the Great (336 to 323 BC), drachms were struck from Greece to Egypt, Mesopotamia, and as far east as modern Afghanistan.

What Was a Drachm Worth?

Like most ancient coins, a drachm's purchasing power varied over time and between regions. In Classical Athens, its value can be understood through a few simple relationships.

This made the drachm an everyday silver coin used in commerce throughout much of the Greek world.

How Big Is a Drachm?

The size and weight of a drachm depended on the issuing city or kingdom. Under the widely used Attic standard, a silver drachm had typical specifications.

Other Greek states, including Aegina and Rhodes, used different weight standards, so not all drachms were identical.

Famous Types of Drachms

Athenian Drachm

Athens produced silver drachms carrying its iconic civic imagery.

While Athens is best known for its tetradrachms, drachms carried the same iconic imagery in a smaller format.

Alexander the Great Drachm

Following Alexander's conquests, enormous quantities of silver drachms were struck across his empire.

Many continued to be struck for decades after Alexander's death by his successors while still bearing Alexander's name and imagery.

Hellenistic Kingdom Drachms

Kings such as Lysimachos, Seleukos I, Antiochos III, and Mithridates VI all issued silver drachms bearing remarkably realistic royal portraits, making them among the finest and most influential portrait coins of the ancient world.

Drachm vs. Tetradrachm

The drachm sat within a simple family of silver denominations.

Tetradrachms were generally used for larger commercial transactions and international trade, while drachms circulated more commonly in everyday commerce.

Why Are Drachms Important?

The drachm helped shape the economy of the Greek world.

As Alexander's empire spread Greek culture across the Near East, the drachm became one of the ancient world's most widely recognized trade currencies. Its influence lasted for centuries, and the name drachma survived as the currency of Greece until the country adopted the euro in 2002.

Are Ancient Drachms Rare?

Not necessarily. Many silver drachms were struck in enormous quantities, especially those of Alexander the Great and his successors.

Because so many survive, collectors can often purchase authentic examples for modest sums, depending on the ruler, mint, condition, rarity, and historical significance. More unusual city issues or exceptionally preserved examples can command much higher prices.

Collecting Ancient Drachms

Drachms are among the best entry points into ancient Greek coin collecting.

Whether your interest is Classical Greece, Alexander the Great, the Hellenistic kingdoms, or biblical history, there is likely a drachm that fits your collecting goals.

Final Thoughts

Few coins influenced history as profoundly as the ancient drachm. It powered the economies of Greek city-states, accompanied Alexander the Great's armies across Asia, and remained an important silver denomination for centuries.

Today, these remarkable coins allow collectors to hold a genuine piece of the ancient Greek world, one that helped shape the history, commerce, and culture of Western civilization.

It powered the economies of Greek city-states and accompanied Alexander's armies across Asia.

History wasn't just written. It was minted.

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