Greek drachma 5 drachmae) were issued from 1885, with the first 5-drachma notes being made by cutting 10-drachma notes in half. When Greece finally achieved its independence from the Ottoman Empire in 1828, the phoenix was introduced as the monetary unit; its use was short-lived, however, and in 1832 the phoenix was replaced by the drachma, adorned with the image of King Otto of Greece, who reigned as modern Greece's first king from 1832 to 1862. The drachma was divided into 100 lepta. In 2002 the drachma ceased to be legal tender after the euro, the monetary unit of the European Union,
Greek drachma copper, or iron ingots denominated by weight. A hoard of over 150 rod-shaped obeloi was uncovered at Heraion of Argos in Peloponnese. Six of them are displayed at the Numismatic Museum of Athens. 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 notion that "drachma" derived from the word for fistful was recorded by Herakleides of Pontos (387–312 BC) who was informed by the priests of Heraion that Pheidon, king of Argos, dedicated rod-shaped obeloi to Heraion. Similar information