THE PHOENIX

One of the first measures taken by Governor Ioannis Kapodistrias to organize the newly established Greek state and assert its independence was to issue a national currency in order to replace foreign currencies in transactions. On 29 July 1828, the Fourth National Assembly of Argos introduced the first modern Greek monetary system, based on the “phoenix”, divided into 100 lepta. The first silver “phoenix” coins were struck on 27 June 1829 in the courtyard of Kapodistrias’ house in Aegina under the supervision of Alexandros Kontostavlos, on a 1530 press purchased from the Knights of St John of Malta. The first dies were engraved by goldsmith Hatzi-Grigoris Pyrovolistis. The first silver “phoenix” coins were struck on 27 June 1829 in the courtyard of Kapodistrias’ house in Aegina under the supervision of Alexandros Kontostavlos, on a 1530 press purchased from the Knights of St John of Malta. The first dies were engraved by goldsmith Hatzi-Grigoris Pyrovolistis.