Introduction
The Athenian owl coin is a famous ancient Greek coin featuring the symbol of wisdom - the owl. These coins have captured the imagination of many, including President Roosevelt who carried one with him. Not only were these coins used as currency in ancient Athens between 510 BC and 38 BC, but they were also widely circulated throughout the Greek world and beyond. There is much to say about these coins, and the changes that were made over the centuries in which they were produced. The scope of this blog is limited, focusing on the most popular period: 450 - 404 BCE. Among others, we will discuss the appearance of the coin, its meaning, how authenticity was checked and its value, both in the past and now.

Features of the coin
Athenian "owls," as they were called, were minted in Athens for over four hundred years, beginning in the 510s BCE. The coin type of these coins is called a “tetradrachm”. “Tetra” comes from Greek τετρα meaning four. Hence one tetradrachm is equivalent to four drachmae.

The coin weighs approximately 17.2 grams (per 0.6 ounce) which makes it heavier than 3 US quarters. Aside from the imagery and relief of the coin, this feature makes them an impressive and heavy coin to behold.

Where and why were owl coins made?
Athenians minted these coins prolifically using its own silver mines. The coins were used to finance the Parthenon and Acropolis as well as several wars. Moreover, owls became the standard throughout the ancient world, not merely Athens. This popularity caused their design to remain nearly identical for centuries, even though other city-states were experimenting with more intricate designs.

Examine the symbolism and legend behind it
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.

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”.

Why the image of an owl
According to Greek mythology, the owl was considered symbolic of intelligence, wisdom, vigilance, and strength – attributes that were all valued by the ancient Athenian city-state.

Why is the owl the symbol of wisdom? Because it is a nocturnal bird and was believed to have the ability to see in the dark. This was thought to represent a deeper understanding of the world, and the owl was therefore considered to be a wise bird.

Besides the owl and inscription, a wreath of olive leaves and crescent moon were added sometime around 480 BCE. The owl was also considered to be a good luck charm, thought to bring good fortune to those who carried it.

The owl remained a powerful symbol in Greek culture for centuries. Its influence has appeared in pottery, architecture, statues, and art.

Which deity does an owl on a coin represent?
As mentioned, owl coins represent the Greek goddess Athena, who was the patron goddess of Athens. 

The owl’s presence on Athena's shoulder also represented her patronage and authority over the nation – signifying strength in their defense and justice in their courts. 

Athena was associated with wisdom, intelligence, and military strategy.

Testing an owl’s authenticity
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.

How much is an Athenian Owl Coin today?
The value of an Athenian owl coin varies depending on its condition, rarity, and historical significance. On average, an Athenian owl coin can be worth anywhere from several hundred to several thousand dollars. The exact value of a coin is determined by a number of factors, including the visibility of Athena and the owl and the level of detail present.

Conclusion
In sum, Athens’ owl coins are works of art and history. They were the standard in a large part of the world for hundreds of years and have captured the attention of coin enthusiasts for millennia. Any collector would be wise to add one to their collection.