The History of Mining in Greece

Mining activity reached its peak in the middle of the 4th century BC, when production stood at around 1000 talents a year. Mining concessions were auctioned off annually by state officials known as the Palatai or private individuals. They were purchased by both moderate and wealthy lessees, both equally eager to make their fortunes. Each successful bidder was free to extract as much ore from his concession as he could for the duration of his lease. It is believed that the lessee then sold the silver back to the state for minting but that is unclear.