By decree of the authorities of 1833, the Kapodistrian phoenix was abolished and the drachma was adopted as the new national currency. The coins issued during Otto’s reign included gold denominations of 40 and 20 drachmas, silver denominations of 5, 1, 1/2 and 1/4 drachmas, and bronze denominations of 10, 5, 2 and 1 cent, from three different mints. Expressing the ideology of the monarchical regime, the gold and silver coins bear the head of Otto and his title: “King of Greece”. Otto’s coins were minted at three mints. In the period 1833-1834, coins were issued by the mints of Munich (without symbol), and Paris (with symbol the letter A). During the years 1836-1841, only copper coins were issued by the mint of Athens.
The mint mark of this mint for the silver coins of the period 1842-1850 is a small blue dot to the left of the date.
Among the monetary issues of Otto one finds some of the rarest modern Greek coins. The 5 drachmas of 1846 is the only analogue in the world.
Othon(1832-1862)
The election of seventeen-year-old Otto, scion of the royal Wittelsbach dynasty of Bavaria, as king of Greece in 1832 was the result of a compromise between the protectorate powers in their desire to maintain a balanced influence in Greek political affairs. Otto arrived in Greece accompanied by Bavarian troops and numerous German technocrats, who worked devotedly for the reconstruction and Europeanization of the country. In 1843, Otto was forced to grant the so-called “hegemonic” Constitution, which established a constitutional monarchy in Greece. He reigned until 1862, when a new revolution forced him to abandon Greece with his wife Amalia.