Early Greek coinage, which had its origins on the coast of Asia Minor, had been produced from the alloy electrum, but was abandoned by most city-states when silver became the preferred metal for the majority of coinage. Some city-states did however continue to produce coinage in electrum and the issues of Kyzikos are perhaps the most famous and spectacular of these.

Kyzikos was a rich trading city-state, due to its location between the Aegean and the Black Sea. Its coinage of electrum staters, a clear expression of its wealth, were produced between about 550-350 B.C. The coins always possess an impressive obverse type, the reverses bearing a quadripartite incuse square, and the flans are invariably thick and, at times, exist in a variety of shapes.

Mysia, Kyzikos. EL Stater 16.01gm., c.500-450 BC.  Naked male kneeling left, tunny fish in each hand. Rev:  Quatrapartite incuse square. (Von Fritze 70; Baston 1478) Very Fine.       £6,750