In 2007, during the excavation conducted by the Taman archaeological expedition of the Institute for Archaeology (RAS) at Phanagoria, two hoards of copper coins were found in a thick layer of ashes left by a fire of the 1st half of the 1st c. BC. The first hoard consisted of seven Panticapaean tetrachalkoi of the 1st third of the 1st century BC, of the pattern «Dionysos’ (Apollo’s) head to the right – thyrsus and tripod».

The second hoard was found in a building destroyed by fire. It consisted of 19 coins: 11 tetrachalkoi of Bosporan cities (Panticapaeum, Phanagoria) and 8 oboloi of Pontic cities (Amisus, Gaziura, Taulara, Amastria and some coins of uncertain provenance). All the Bosporan tetrachalkoi are of the type «Head of Artemis – Doe» and all the Pontic oboloi are of the type «Head of Zeus – Eagle upon Thunderbolts». It is remarkable that all the tetrachalkoi, both Panticapaean and Phanagorian, have a wheat ear minted additionally on the obverse. The second of the complexes published here has some similarity to the hoards of the Mithridatic era containing Pontic copper. The presence of copper coins from Paphlagonia and Pontus of the epoch of Mithridates VI Eupator in many of these hoards is characteristic. Among the hoards of the Mithridatic epoch the ones published here seem to be the latest.