Alexander discovers time capsule of rare coins – The

A time capsule containing rare gold coins has been unearthed from the foundation of a 1930s villa in Alexandria. The sealed lead bag contained 13 coins of different denominations, including silver coins of 5, 10 and 20 piastres, and three gold coins of 20, 50 and 100 piastres. The last three are among the rarest coins in modern Egyptian monetary history.

Archaeologists from Egypt’s Supreme Council of Antiquities (SCA) discovered the capsule during salvage excavations in a historic neighborhood in central Alexandria.

ACA Secretary General Mohammed Ismail Khalid highlighted the wider significance of the discovery, describing it as “a tangible link between Alexandria’s ancient history from the Hellenistic and Roman times and its modern multicultural heritage.”

He noted that the contents of the capsule reflect a long tradition shared by Greek and Egyptian cultures of placing symbolic deposits in building foundations to bring blessings and prosperity. […]

The most notable item was a typewritten Greek document found inside the capsule, signed by Constantine M. Salvago and his mother, Julia K. Salvago, and dated May 1, 1937. It documents the laying of the villa’s foundation stones under the supervision of French architect Jean Walter, and is a vivid reminder of the pride and ceremony that defined Alexandria’s Greek community at the time.

Originally from the island of Chios, the Salvagos were one of three dozen noble families who fled the island during the Massacre of Chios in 1822 during the Greek War of Independence. Ottoman forces devastated the island, killing about 100,000 people or enslaving them. Another 20,000 people fled, leaving the island of Chios almost depopulated and forming a community of displaced refugees known as the “Chian diaspora”.

Michael and Emilie Salvago settled on the island of Syros, where their son Constantine was born in 1845. He moved to Alexandria in 1860 and established a successful mercantile company that later expanded into banking. In 1872, he and other prominent members of the Greek Alexandria community founded what became the Bank of Alexandria. In 1898, he became one of the main co-founders of the National Bank of Egypt. He died unexpectedly in 1901 at the age of 56, leaving behind a fortune that allowed his descendants and extended family to continue to grow. The family’s business interests eventually extended far beyond banking to include railroads, irrigation, oil, coal, copper plate, dehydrated foods, insurance and cotton.

The newly discovered coins will go on display in a special exhibition at Alexandria’s Greco-Roman Museum, giving the public a rare glimpse into the city’s vibrant and interconnected past.