This piece is considered one of the oldest known Egyptian coins. It was minted during the reign of King Nectanebo II, the last king of the Thirtieth Dynasty (360-343 BC). On the obverse is an inscription of a horse running towards the right. It means “good gold.”

The beginnings of the use of money in Egypt go back to the kings of the Twenty-Sixth Dynasty (663-525 BC), who sought help from Greek mercenaries and were keen to receive their wages in Greek money. Therefore, the kings of that family were keen to obtain large quantities of that money in exchange for Egypt’s exports to Greece. To pay those wages.

Egypt later imported Athenian coins for minting in Egypt, where some of them were found, but there is no evidence of money circulation on the public scale.

Although there is archaeological evidence about the existence of some rare coins bearing a purely Egyptian character, they were minted in a late era and a limited time, during the reign of Nectanebo II (360-343 BC), but it cannot be confirmed that they were circulated throughout Egypt.