The treasury dedicated by the people of Siphnos was one of the most opulent monuments in the temenos of Apollo. Built near the beginning of the Sacred Way, next to the Treasury of the Sikyonians and opposite that of the Megarians, it housed the precious votive offerings dedicated by the Siphnians to the sanctuary. According to Herodotus and Pausanias, Siphnos drew great wealth from its gold and silver mines and in the second half of the sixth century BC was the most prosperous of the Greek islands. The Siphnians decided to dedicate the tithe of their profits to Apollo and thus built the treasury. The monument's sculptural decoration is dated on stylistic grounds to 525 BC, or a little earlier, since that year Siphnos was looted by Samians in need of money.