Drachma 2 - Greek The name drachma is derived from the verb "δράττω" (dratto, "to grasp").[1] Initially a drachma was a fistful (a "grasp") of six oboloi (metal sticks), which were used as a form of currency as early as 1100 BC. It was the standard unit of silver coinage at most ancient Greek mints, and the name 'obol' was used to describe a coin that was one-sixth of a drachma. The 5th century BC Athenian tetradrachmon ("four drachmae") coin was the most widely used coin in the Greek world prior to the time of Alexander the Great. It featured the helmeted profile bust of Athena on the obverse (front) and an owl on the reverse (back). In daily use they were called γλαῦκαι glaukai (owls), hence the phrase Γλαῦκ’ Ἀθήναζε, 'an owl to Athens', referring to something that was in plentiful supply, like 'coals to Newcastle'. The reverse is featured on the national side of the modern Greek 1 euro coin