August 14, /TASS/. A priceless trove of silver coins has been found by archeologists at the excavation site of the ancient Greek colony of Phanagoria in Russia’s Krasnodar Region. The pieces were buried underground for 2,500 years and are now believed to be the oldest coins to be minted on the territory of modern Russia, head of the Classical Archaeology Department of the Institute of Archaeology at the Russian Academy of Sciences Vladimir Kuznetsov told reporters on Wednesday.

"In the course of excavation, we found a unique trove filled with silver coins, which are the most ancient of all the coins minted on the Russian territory. So, now we can trace the history of when the oldest coins were minted in Russia. This is around sixth-fifth century BC or 2,500 years ago," he said.

According to him, scientists have always argued which era the history of coin minting in Russia dates from. "Because we did not have a reference point, which we now have - 480 BC. In other words, the trove was hidden during the Persian invasion," the archeologist clarified.

Phanagoria is an ancient city founded in the sixth century BC on the Taman Peninsula (the Krasnodar Region). Later, the city became the capital of the Bosporan Kingdom’s Asian part, which was formed by Greeks by uniting its colonial cities on the shores of the Black and Azov Seas. Aggressive Hun tribes drove the Greek away from the Taman Peninsula in the fourth century AD.

Archeological excavations have been conducted on the territory of the ancient city since the 19th century, becoming an annual practice. Different scientists and experts have been exploring the ancient Greek pearl of Phanagoria.