Ancient Coins
625 - 600 bce electrum for the use of artemis
2018 sold for $ 120k including premium
Metrology of weights had become a must for tax collectors. Its application to precious metals generated the first coins around 700 BCE. The use of punches to guarantee calibrated metal pieces is prior to the first real coins engraved on the other side with a drawing of abstract streaks or of an animal. Trade, based on barter in larger quantities, is not yet involved.
Electrum is known since the earliest Egyptian dynasties. This natural alloy of gold and silver is harder than pure gold. It was abundant in Ionia at that time when metal separation techniques were not yet developed. The first electrum coins precede by more than a century the wealth of Croesus based on the electrum of the Paktolos river.
The standard is the stater whose weight varies according to the metal. The divisions were practiced from the beginning, with a great accuracy. The most popular for the electrum coin was the trite worth one-third of a stater. The electrum stater weighing around 14 g was rarer. The first use of such coins was probably a votive tax.
Ephesus is one of the earliest users of a coinage. Archaic coins date from the period of an ancient Temple of Artemis destroyed by water, fire or war during the 7th century BCE, nearly a century before the construction of the famous temple which was listed as one of the seven wonders of the world.
An oval shaped electrum stater issued around 625-600 BCE displays a tall stag walking head down for grazing. This animal is along with the bee one of the main ancient symbols of the goddess Artemis. Comparisons of style and of punches ensure that it was made in Ephesus or for the use of Ephesus.
This stater is the earliest known coin model in history bearing an inscription. In a paleo-Greek script throughout the length above the stag, it is in inverted writing : the primitive engraver had not been able to overcome the fact that the image of the coin is necessarily inverted from that of the mold.
It is inscribed ΦΑΝΟΣ EMI ΣEIMA. meaning "I am the badge of Phanes". This name has not been decoded : it can be that of the donor, the engraver, the assayer or the nickname of a deity. Linguists must consider that there is a trite from the same series, with the animal in the same attitude, where the inscription reduced to only the name is not ΦΑΝΟΣ but ΦΑNEΟΣ.
Two staters of Phanes are kept in public collections. Three others were auctioned : for CHF 480K by Tkalec in February 2000, for € 345K including premium by Gorny und Mosch on March 8, 2010, for € 280K before fees by Numismatik Lanz on June 5, 2014. Another unit graded very fine by NGC is estimated $ 200K for sale by Heritage in New York on January 8, lot 32049.
Electrum is known since the earliest Egyptian dynasties. This natural alloy of gold and silver is harder than pure gold. It was abundant in Ionia at that time when metal separation techniques were not yet developed. The first electrum coins precede by more than a century the wealth of Croesus based on the electrum of the Paktolos river.
The standard is the stater whose weight varies according to the metal. The divisions were practiced from the beginning, with a great accuracy. The most popular for the electrum coin was the trite worth one-third of a stater. The electrum stater weighing around 14 g was rarer. The first use of such coins was probably a votive tax.
Ephesus is one of the earliest users of a coinage. Archaic coins date from the period of an ancient Temple of Artemis destroyed by water, fire or war during the 7th century BCE, nearly a century before the construction of the famous temple which was listed as one of the seven wonders of the world.
An oval shaped electrum stater issued around 625-600 BCE displays a tall stag walking head down for grazing. This animal is along with the bee one of the main ancient symbols of the goddess Artemis. Comparisons of style and of punches ensure that it was made in Ephesus or for the use of Ephesus.
This stater is the earliest known coin model in history bearing an inscription. In a paleo-Greek script throughout the length above the stag, it is in inverted writing : the primitive engraver had not been able to overcome the fact that the image of the coin is necessarily inverted from that of the mold.
It is inscribed ΦΑΝΟΣ EMI ΣEIMA. meaning "I am the badge of Phanes". This name has not been decoded : it can be that of the donor, the engraver, the assayer or the nickname of a deity. Linguists must consider that there is a trite from the same series, with the animal in the same attitude, where the inscription reduced to only the name is not ΦΑΝΟΣ but ΦΑNEΟΣ.
Two staters of Phanes are kept in public collections. Three others were auctioned : for CHF 480K by Tkalec in February 2000, for € 345K including premium by Gorny und Mosch on March 8, 2010, for € 280K before fees by Numismatik Lanz on June 5, 2014. Another unit graded very fine by NGC is estimated $ 200K for sale by Heritage in New York on January 8, lot 32049.
465 bce the wealth of cimon
2019 sold for $ 525k before fees
The largest circulation coins of ancient Greece are silver tetradrachms and didrachms. The Athens coins are illustrated on one side with the portrait of Athena and on the other side with the owl accompanied by the letters A-TH-E.
The most prestigious edition is a decadrachm 3 cm in diameter weighing about 44 g. The increased surface enables figures of great beauty. On this denomination only, the owl is not shown in profile but in front with wings spread in sign of victory and a hypnotist gaze in its proudly straight head. Considering the dates of the hoards, this coin was minted around 465 BCE.
The great wealth of Athens was traditionally based on the Laurion silver mines. A little later Herodotus will tell that a surplus of exploitation has once been shared between the citizens.
Cimon's military success adds to the opulence. The booty taken from the Persians after the naval battle of Eurymedon circa 467 BCE is considerable. The capture of the island of Thasos in 463 BCE gives Athens the control of other important silver mines. Cimon was famous for his wealth, magnificence and practice of sharing. The circumstances of the creation of the decadrachm and its mode of use are however not known.
An Athens decadrachm was sold for $ 500K before fees by CNG (Classical Numismatic Group) on January 8-9, 2007. It comes back in the same auction house in New York on January 8, lot 211 estimated $ 500K, here also linked on The Saleroom bidding platform.
This coin is splendid by its surface condition, its perfect centering and the sharpness of its strike. The image is shared by Wikimedia with an attribution to CNG linked to the 2007 catalog http://www.cngcoins.com [GFDL, CC-BY-SA-3.0 or CC BY-SA 2.5]
The most prestigious edition is a decadrachm 3 cm in diameter weighing about 44 g. The increased surface enables figures of great beauty. On this denomination only, the owl is not shown in profile but in front with wings spread in sign of victory and a hypnotist gaze in its proudly straight head. Considering the dates of the hoards, this coin was minted around 465 BCE.
The great wealth of Athens was traditionally based on the Laurion silver mines. A little later Herodotus will tell that a surplus of exploitation has once been shared between the citizens.
Cimon's military success adds to the opulence. The booty taken from the Persians after the naval battle of Eurymedon circa 467 BCE is considerable. The capture of the island of Thasos in 463 BCE gives Athens the control of other important silver mines. Cimon was famous for his wealth, magnificence and practice of sharing. The circumstances of the creation of the decadrachm and its mode of use are however not known.
An Athens decadrachm was sold for $ 500K before fees by CNG (Classical Numismatic Group) on January 8-9, 2007. It comes back in the same auction house in New York on January 8, lot 211 estimated $ 500K, here also linked on The Saleroom bidding platform.
This coin is splendid by its surface condition, its perfect centering and the sharpness of its strike. The image is shared by Wikimedia with an attribution to CNG linked to the 2007 catalog http://www.cngcoins.com [GFDL, CC-BY-SA-3.0 or CC BY-SA 2.5]
460 BCE Virile Gods in Sicily
2018 SOLD for CHF 725K before fees
A great example of antique Sicilian coinage remaining in extremely fine condition was sold for £ 320K before fees by Morton and Eden on April 23, 2012. and for CHF 600K before fees by Numismatica Ars Classica (NAC) on October 6, 2016, lot 1019.
It is now estimated CHF 600K for sale by NAC in Zurich on September 24, lot 8 here linked to Sixbid bidding platform. I narrated it as follows before the 2016 sale :
The city of Naxos near Catania on the eastern coast of Sicily was the earliest Greek colony in that island, anticipating Syracuse, and got its name from the Cycladic island with which it should not be confused. It was also one of the first Western cities to develop a coinage struck on both sides.
Naxos and Catania are emptied of their inhabitants about 474 BCE by the tyrants of Syracuse. The political dominance is reverted following several rebellions, and freedom is retrieved in 460 BCE.
A tetradrachm was issued in Naxos in Sicily at that time, certainly for celebrating the end of the exile. Its bold rendering of Greek gods is a masterpiece of ancient coinage without being an artistic renewal. It is believed that the same artist had previously executed a tetradrachm for Aetna (Aitna) which was the name of Catania during the Syracusan occupation.
On one side the portrait of Dionysus in full surface is remarkably well balanced for its time with a thick beard and a smile that may be vicious. He wears a wreath of ivy leaves. On the other side the invitation to debauchery is indeed worse ! Silenus squats in full nude, vigorously muscular and ithyphallic. The bust unbalanced by intoxication, he inspects the cup that contains his beverage.
It is now estimated CHF 600K for sale by NAC in Zurich on September 24, lot 8 here linked to Sixbid bidding platform. I narrated it as follows before the 2016 sale :
The city of Naxos near Catania on the eastern coast of Sicily was the earliest Greek colony in that island, anticipating Syracuse, and got its name from the Cycladic island with which it should not be confused. It was also one of the first Western cities to develop a coinage struck on both sides.
Naxos and Catania are emptied of their inhabitants about 474 BCE by the tyrants of Syracuse. The political dominance is reverted following several rebellions, and freedom is retrieved in 460 BCE.
A tetradrachm was issued in Naxos in Sicily at that time, certainly for celebrating the end of the exile. Its bold rendering of Greek gods is a masterpiece of ancient coinage without being an artistic renewal. It is believed that the same artist had previously executed a tetradrachm for Aetna (Aitna) which was the name of Catania during the Syracusan occupation.
On one side the portrait of Dionysus in full surface is remarkably well balanced for its time with a thick beard and a smile that may be vicious. He wears a wreath of ivy leaves. On the other side the invitation to debauchery is indeed worse ! Silenus squats in full nude, vigorously muscular and ithyphallic. The bust unbalanced by intoxication, he inspects the cup that contains his beverage.
325 bce alexander and the nemean lion
2016 unsold
Persia was full of wealths. Alexander the Great managed to gather in Ecbatana in 331BC a huge war treasure consisting of silver seized in Persepolis, Susa and Pasargadae for an estimated total of 180,000 talents. The talent, unit of weight applied in antique Greece for the silver, is equivalent to 25.86 Kg. It is worth 6,000 drachms.
The conqueror is loved by his troops. It is easy to understand why: he has no difficulty to pay them. The production of drachms and tetradrachms is operating at full capacity in Ecbatana and Babylon. A soldier earns about 1 drachm per day. The premium granted to a man retiring to Greece is 6,000 drachms.
The highest denomination of silver coinage is the decadrachm whose use was probably limited to presentation coins. The high relief decadrachm with the effigy of Hercules could date from the later years of Alexander's reign between 325BC and 323BC although a posthumous strike cannot be excluded.
On one side, the head of Hercules in close view bears as headdress the skin of the Nemean lion. This is the very artistic portrait of a young man, which is surprising in the iconography of Hercules. The engraver had paid attention to the young age of Alexander and also tricked Hercules with the anastole, the hair swept back from the parting in the center in the fashion of his king.
The other side is inscribed with the name of Alexander, AΛEΞANΔPOY, and shows Zeus sitting on a throne and holding the eagle at the end of his extended arm.
This large coin 35 mm in diameter is extremely rare although the discovery of a hoard of early Seleucid period in 1973 increased its population to nearly 20 units.
One of them weighing 41.98 g was sold for € 325K before fees by Art Coins Roma on 3 February 2014. It is considered by the catalog of the sale as the finest example. Another one weighing 42.28 g and coming from the 1973 hoard was sold for $ 250K before fees by Baldwin's on January 4, 2012.
Another example weighing 41.22 g is estimated $ 200K for sale byHeritage in New York on January 4, lot 31020.
The conqueror is loved by his troops. It is easy to understand why: he has no difficulty to pay them. The production of drachms and tetradrachms is operating at full capacity in Ecbatana and Babylon. A soldier earns about 1 drachm per day. The premium granted to a man retiring to Greece is 6,000 drachms.
The highest denomination of silver coinage is the decadrachm whose use was probably limited to presentation coins. The high relief decadrachm with the effigy of Hercules could date from the later years of Alexander's reign between 325BC and 323BC although a posthumous strike cannot be excluded.
On one side, the head of Hercules in close view bears as headdress the skin of the Nemean lion. This is the very artistic portrait of a young man, which is surprising in the iconography of Hercules. The engraver had paid attention to the young age of Alexander and also tricked Hercules with the anastole, the hair swept back from the parting in the center in the fashion of his king.
The other side is inscribed with the name of Alexander, AΛEΞANΔPOY, and shows Zeus sitting on a throne and holding the eagle at the end of his extended arm.
This large coin 35 mm in diameter is extremely rare although the discovery of a hoard of early Seleucid period in 1973 increased its population to nearly 20 units.
One of them weighing 41.98 g was sold for € 325K before fees by Art Coins Roma on 3 February 2014. It is considered by the catalog of the sale as the finest example. Another one weighing 42.28 g and coming from the 1973 hoard was sold for $ 250K before fees by Baldwin's on January 4, 2012.
Another example weighing 41.22 g is estimated $ 200K for sale byHeritage in New York on January 4, lot 31020.
Alexander the Great silver coin to make $300,000? https://t.co/nNF8bitjxL pic.twitter.com/K3jyfZp1Gm
— Paul Fraser (@PFCollectibles) December 22, 2015197 BCE Flamininus Gold Stater
2018 SOLD for CHF 600K before fees by Maison Palombo
Appointed consul in 198 BCE, T. Quinctius Flamininus obtained the command of the Roman armies engaged in the Second Macedonian War. He defeated King Philip V decisively at the Battle of Cynoscephales in 197.
The war had begun after a complaint to the Roman Senate by Pergamum and Rhodes against the Macedonian yoke over the Greek cities. Flamininus remains in Greece with the title of proconsul to finish his political work. In 196 in a speech given at the Isthmian games of Corinth, he proclaims the freedom of the Greek cities.
Upon his arrival in the region Flamininus had shown extreme harshness in announcing to the King of Macedonia his terms for a possible negotiation. The Greeks are surprised by his constructive benevolence. The clever general was not an idealistic sponsor. He intended to establish a lasting influence of the Roman Republic in Greece and to take advantage of the glory attached to this success.
A gold stater was issued in the genitive name (T. Quincti) and the effigy of Flamininus. Between Ptolemy I and the time of Caesar it is the only example of monetary portrait of a living person. Even Alexander had not dared.
The image is realistic in the style of Alexander's posthumous portrait which was still on the coins circulating in Greece at that time. The waving hair is undone and he wears no ornament revealing his position. The badly trimmed beard reveals that he is a general in the field.
The inscription is on the reverse beside a classic figure of Victory. Two variants exist, with the text turned up or down, which is enough to ensure that this currency is not a single-strike commemorative medal. The text is not in Greek letters but in Roman capital letters, with one typographical clumsiness that confirms the Greek origin of this stater. The triumph of Flamininus in Rome in 194 appears as a terminus ante quem.
Eleven examples of this coin are known. The best preserved, in superb condition and very well centered, was sold for CHF 500K before fees by Numismatica Genevensis on December 2, 2008. and for CHF 600K before fees on October 20, 2018 by Maison Palombo, lot 25 here linked on the Sixbid auction platform.
The war had begun after a complaint to the Roman Senate by Pergamum and Rhodes against the Macedonian yoke over the Greek cities. Flamininus remains in Greece with the title of proconsul to finish his political work. In 196 in a speech given at the Isthmian games of Corinth, he proclaims the freedom of the Greek cities.
Upon his arrival in the region Flamininus had shown extreme harshness in announcing to the King of Macedonia his terms for a possible negotiation. The Greeks are surprised by his constructive benevolence. The clever general was not an idealistic sponsor. He intended to establish a lasting influence of the Roman Republic in Greece and to take advantage of the glory attached to this success.
A gold stater was issued in the genitive name (T. Quincti) and the effigy of Flamininus. Between Ptolemy I and the time of Caesar it is the only example of monetary portrait of a living person. Even Alexander had not dared.
The image is realistic in the style of Alexander's posthumous portrait which was still on the coins circulating in Greece at that time. The waving hair is undone and he wears no ornament revealing his position. The badly trimmed beard reveals that he is a general in the field.
The inscription is on the reverse beside a classic figure of Victory. Two variants exist, with the text turned up or down, which is enough to ensure that this currency is not a single-strike commemorative medal. The text is not in Greek letters but in Roman capital letters, with one typographical clumsiness that confirms the Greek origin of this stater. The triumph of Flamininus in Rome in 194 appears as a terminus ante quem.
Eleven examples of this coin are known. The best preserved, in superb condition and very well centered, was sold for CHF 500K before fees by Numismatica Genevensis on December 2, 2008. and for CHF 600K before fees on October 20, 2018 by Maison Palombo, lot 25 here linked on the Sixbid auction platform.
27 BCE Augustus and the Heifer
2014 SOLD for £ 480K including premium
Julius Caesar was murdered 709 years after the founding of Rome, according to calculations made later by Livy. All the ambitious leaders rush into the conquest of power. Among them, the youngest is Caius Octavius whose adoption by Caesar had been ratified by the Senate. He shows his political will by changing his name to Caius Julius Caesar Octavianus.
Octavian is the winner, after 13 years of civil war. He understood that, in order to maintain his dominance, he must be respected as a demi-god or even more. Before the decisive battle of Actium, he promised to open a temple. His choice was to honor the most beautiful of the gods, Apollo.
Three years after Actium, Octavian inaugurates the temple of Apollo Palatinus on a place marked by lightning. This political act is extremely important because it includes the transfer of the Sibylline Books from the Capitoline temple of Jupiter. Military winner, Octavian also perfectly knew how to use the traditional Roman superstitions.
In the following year, 726 from the founding of Rome, he becomes Augustus Caesar, which means the sacred emperor entitled to make oracles and the absolute master of political power.
In the sale of 22 and 23 September in London, Dix Noonan Webb offers an aureus of Augustus Caesar, whose figures tend to show that it was made in the very first years of the Roman Empire.
It is inscribed 'Caesar' on one side with the portrait of the leader that lost the realistic hardness of the Republican era to provide an idealization inspired by Apollo. His beauty remains plausible for a man who was not yet 40 years old.
It is inscribed 'Augustus' on the reverse side with a heifer lowering the spine, which is not a symbol of virginity but of sacrifice. This image is directly inspired by four statues from the old Greek sculptor Myron of Eleutherae that were adorning the altar of Apollo Palatinus. Both sides thus show a tight link between the two imperial arts, sculpture and coinage.
Several variants of this aureus exist, with laureate or bare head, head to the left or to the right, beast going left or right. This series of variants that were probably struck together is certainly designed for some interpretation of auspices. Three combinations have never been seen. The coin for sale is unique, with the laureate head to the right and the heifer to the left.
In very fine condition, it is estimated in excess of £ 300K. Both sides are shown in the post shared by Numismatic News.
Octavian is the winner, after 13 years of civil war. He understood that, in order to maintain his dominance, he must be respected as a demi-god or even more. Before the decisive battle of Actium, he promised to open a temple. His choice was to honor the most beautiful of the gods, Apollo.
Three years after Actium, Octavian inaugurates the temple of Apollo Palatinus on a place marked by lightning. This political act is extremely important because it includes the transfer of the Sibylline Books from the Capitoline temple of Jupiter. Military winner, Octavian also perfectly knew how to use the traditional Roman superstitions.
In the following year, 726 from the founding of Rome, he becomes Augustus Caesar, which means the sacred emperor entitled to make oracles and the absolute master of political power.
In the sale of 22 and 23 September in London, Dix Noonan Webb offers an aureus of Augustus Caesar, whose figures tend to show that it was made in the very first years of the Roman Empire.
It is inscribed 'Caesar' on one side with the portrait of the leader that lost the realistic hardness of the Republican era to provide an idealization inspired by Apollo. His beauty remains plausible for a man who was not yet 40 years old.
It is inscribed 'Augustus' on the reverse side with a heifer lowering the spine, which is not a symbol of virginity but of sacrifice. This image is directly inspired by four statues from the old Greek sculptor Myron of Eleutherae that were adorning the altar of Apollo Palatinus. Both sides thus show a tight link between the two imperial arts, sculpture and coinage.
Several variants of this aureus exist, with laureate or bare head, head to the left or to the right, beast going left or right. This series of variants that were probably struck together is certainly designed for some interpretation of auspices. Three combinations have never been seen. The coin for sale is unique, with the laureate head to the right and the heifer to the left.
In very fine condition, it is estimated in excess of £ 300K. Both sides are shown in the post shared by Numismatic News.
5 BCE - 33 ce a vertical of shekels
2015 unsold
The Phoenician island city of Tyre was famous for its commercial business. It produced a one of a kind purple dye which was appreciated by all the royalties. For a millennium, it maintained its prosperity despite changing political attachments.
The weakening of the Seleucids brought to Tyre an almost total autonomy. The city's calendar started with this event, 126 years before the origin of our current calendar. The transformation of the area into a Roman province 62 years later did not modify the autonomy of the city. Their currency was made of silver shekels and half shekels.
For the pleasure of the numismatists of our time, the shekels of Tyre are dated and bear monograms that certainly relate to the production workshop and office.
For almost two centuries, the shekels of Tyre maintained a great regularity in size (about 25 mm), weight (around 14 g) and figures (on one side the laureate bust of the Phoenician hero Melqart, on the other side a standing eagle). This exceptional reliability allowed the shekels of Tyre to become the reference currency in Palestine, including Judaea.
An expert built a collection of shekels of Tyre with one coin per year covering the traditional period of the life of Jesus of Nazareth, between 122 and 159 of the calendar of Tyre. These 38 pieces are sold as one lot by Heritage in New York on January 5, lot 30932 with a reserve amount of $ 125K before fees.
The weakening of the Seleucids brought to Tyre an almost total autonomy. The city's calendar started with this event, 126 years before the origin of our current calendar. The transformation of the area into a Roman province 62 years later did not modify the autonomy of the city. Their currency was made of silver shekels and half shekels.
For the pleasure of the numismatists of our time, the shekels of Tyre are dated and bear monograms that certainly relate to the production workshop and office.
For almost two centuries, the shekels of Tyre maintained a great regularity in size (about 25 mm), weight (around 14 g) and figures (on one side the laureate bust of the Phoenician hero Melqart, on the other side a standing eagle). This exceptional reliability allowed the shekels of Tyre to become the reference currency in Palestine, including Judaea.
An expert built a collection of shekels of Tyre with one coin per year covering the traditional period of the life of Jesus of Nazareth, between 122 and 159 of the calendar of Tyre. These 38 pieces are sold as one lot by Heritage in New York on January 5, lot 30932 with a reserve amount of $ 125K before fees.
69 the new shekel of the zealots
2017 withdrawn
Relations between the Imperial Roman government and Judaea were difficult. The insurrectional revolt broke out in 819 AUC and the Zealots seized Jerusalem. A new era began with the year 1 of the liberation of Israel.
The Zealot power is centered on the immense fortress building of the Temple in which the stocks of silver enable to create and maintain a mint. The new reference is a shekel of Israel 25 mm in diameter and around 14 g providing a successor to the shekel of Tyre whose production had just been stopped. Half and quarter shekels are also released.
A shekel dated year 1 that was sold for $ 1.1M including premium by Heritage on March 8, 2012 was perhaps a prototype of the installation phase of the revolutionary production. A quarter shekel from same year was sold for $ 900K including premium in the same sale.
On August 3 in Denver, Heritage sells a quarter shekel dated year 4, lot 30096 estimated $ 350K. This emission of 15 mm and about 3 g has a new simple and pleasant design, with on one side a sheaf of three branches of palm and on the other side a wreath of palms. The coin for sale has a sharp strike and is very well centered. Three other units are known.
The beginning of that new year, 69 of current era, is critical in Jerusalem with both a civil war between the Jewish factions and the new campaign of the Roman army led by Vespasian. This emission is probably the very last quarter shekel of the Zealots.
In the following year the Romans would take Jerusalem and destroy the city and the Temple. The victorious general was Titus, son of Vespasian and future emperor. An 18 mm aureus produced to honor this success was sold for $ 960K including premium on March 9, 2012, also by Heritage.
The Zealot power is centered on the immense fortress building of the Temple in which the stocks of silver enable to create and maintain a mint. The new reference is a shekel of Israel 25 mm in diameter and around 14 g providing a successor to the shekel of Tyre whose production had just been stopped. Half and quarter shekels are also released.
A shekel dated year 1 that was sold for $ 1.1M including premium by Heritage on March 8, 2012 was perhaps a prototype of the installation phase of the revolutionary production. A quarter shekel from same year was sold for $ 900K including premium in the same sale.
On August 3 in Denver, Heritage sells a quarter shekel dated year 4, lot 30096 estimated $ 350K. This emission of 15 mm and about 3 g has a new simple and pleasant design, with on one side a sheaf of three branches of palm and on the other side a wreath of palms. The coin for sale has a sharp strike and is very well centered. Three other units are known.
The beginning of that new year, 69 of current era, is critical in Jerusalem with both a civil war between the Jewish factions and the new campaign of the Roman army led by Vespasian. This emission is probably the very last quarter shekel of the Zealots.
In the following year the Romans would take Jerusalem and destroy the city and the Temple. The victorious general was Titus, son of Vespasian and future emperor. An 18 mm aureus produced to honor this success was sold for $ 960K including premium on March 9, 2012, also by Heritage.
136 As Nice as a Mint Aureus
2009 SOLD 103 K$ including premium
PRE SALE DISCUSSION
Can you imagine an uncirculated gold coin from the time of the Roman Empire? Such wonders are still on the market, and Heritage Auction Galleries offers two of them in its Dallas sale on January 4.
The Romans designed their coins to the very realistic effigy of the emperors (specifically named Augustus), their designated successor (Caesar) or the empress. Both copies have this characteristics, of course.
The most interesting for a greenhorn is the least expensive of the two. It represents Lucius Verus, who was augustus jointly with Marcus Aurelius from 913 to 921 AUC (Ab Urbe Condita). He distinguished himself in military campaigns, and his coinage is not uncommon. But this one, lot 20,084, has the advantage of being Fleur-de-Coin. This French term that the auction house did not translate indicate that it was produced when its tools were still new. Perfect from the origin and still uncirculated 1840 years after its issue, it is one of the finest examples to be found to judge the quality of Roman coins. It is estimated $ 10 K.
The other mint aureus at lot 20,077, estimated $ 40 K, is a rare coin that shall more excite the numismatists than the historians. When Hadrian promoted a senator in 888 AUC under the name Aelius Caesar, the Romans gossiped into a possible illegitimate son of the emperor. His career did not go far because he died in January 890 AUC, a few months before the old emperor that this inglorious episode had made invisus omnibus, which means hated by all. Aelius was the father of Verus.
POST SALE COMMENT
Two good results, to start the year:
$ 18.5 K premium included for Lucius Verus, and $ 103 K premium included for Aelius Caesar.
The rarer character got the best price of these two coins which were very similar in their other characteristics.
Can you imagine an uncirculated gold coin from the time of the Roman Empire? Such wonders are still on the market, and Heritage Auction Galleries offers two of them in its Dallas sale on January 4.
The Romans designed their coins to the very realistic effigy of the emperors (specifically named Augustus), their designated successor (Caesar) or the empress. Both copies have this characteristics, of course.
The most interesting for a greenhorn is the least expensive of the two. It represents Lucius Verus, who was augustus jointly with Marcus Aurelius from 913 to 921 AUC (Ab Urbe Condita). He distinguished himself in military campaigns, and his coinage is not uncommon. But this one, lot 20,084, has the advantage of being Fleur-de-Coin. This French term that the auction house did not translate indicate that it was produced when its tools were still new. Perfect from the origin and still uncirculated 1840 years after its issue, it is one of the finest examples to be found to judge the quality of Roman coins. It is estimated $ 10 K.
The other mint aureus at lot 20,077, estimated $ 40 K, is a rare coin that shall more excite the numismatists than the historians. When Hadrian promoted a senator in 888 AUC under the name Aelius Caesar, the Romans gossiped into a possible illegitimate son of the emperor. His career did not go far because he died in January 890 AUC, a few months before the old emperor that this inglorious episode had made invisus omnibus, which means hated by all. Aelius was the father of Verus.
POST SALE COMMENT
Two good results, to start the year:
$ 18.5 K premium included for Lucius Verus, and $ 103 K premium included for Aelius Caesar.
The rarer character got the best price of these two coins which were very similar in their other characteristics.
226 the nymphaeum of alexander
2017 SOLD for CHF 400K before fees
After the death of Septimius Severus in 211 of our calendar, his dynasty falls into chaos. The last two emperors are weak adolescents. Elagabalus aroused all hatred by his religious policy and received a reputation as a vicious monarch that probably exceeded the reality.
After the murder of Elagabalus in 222, all hopes are put in his successor Severus Alexander aged 14. His advisers are jurists. This designation of Severus is not dynastic. It is rather an encouragement to deploy a strength of character that the young man will never have.
Severus Alexander began his reign as a great builder. He enlarged the Baths of Nero, starting by adding in 226 the Nymphaeum Divi Alexandri whose castellum still exists today. According to a common practice in that time, the nymphaeum is a pool created to shelter and honor the nymphs and flanked by a multi-leveled building that can serve as a triumphal arch.
On October 24 in Zurich, NAC (Numismatica Ars Classica) sells an aureus of Severus Alexander, lot 543 estimated CHF 275K here linked on the auction platform Sixbid. The strike is deep and sharp and the condition is great.
The portrait in a realistic profile shows a young man with a small beard. The head is laureate and the bust is draped and cuirassed. The reverse is a view of the new monument and its semicircular pool, with arches, statues of victories and the quadriga of the emperor.
This model was issued in 226 or soon after. The emperor had not yet shown his military incompetence. Only one other example is known. This rarity could be explained by a return of some coins in the workshop to replace the nymphaeum by the baths when the tribute to this weak emperor became politically incorrect. Severus Alexander was assassinated in a coup after thirteen years of reign.
After the murder of Elagabalus in 222, all hopes are put in his successor Severus Alexander aged 14. His advisers are jurists. This designation of Severus is not dynastic. It is rather an encouragement to deploy a strength of character that the young man will never have.
Severus Alexander began his reign as a great builder. He enlarged the Baths of Nero, starting by adding in 226 the Nymphaeum Divi Alexandri whose castellum still exists today. According to a common practice in that time, the nymphaeum is a pool created to shelter and honor the nymphs and flanked by a multi-leveled building that can serve as a triumphal arch.
On October 24 in Zurich, NAC (Numismatica Ars Classica) sells an aureus of Severus Alexander, lot 543 estimated CHF 275K here linked on the auction platform Sixbid. The strike is deep and sharp and the condition is great.
The portrait in a realistic profile shows a young man with a small beard. The head is laureate and the bust is draped and cuirassed. The reverse is a view of the new monument and its semicircular pool, with arches, statues of victories and the quadriga of the emperor.
This model was issued in 226 or soon after. The emperor had not yet shown his military incompetence. Only one other example is known. This rarity could be explained by a return of some coins in the workshop to replace the nymphaeum by the baths when the tribute to this weak emperor became politically incorrect. Severus Alexander was assassinated in a coup after thirteen years of reign.
293-296 Allectus Aureus
2019 SOLD for £ 550K by Dix Noonan Webb
The usurpers of the Roman empire can rely on frontier nations that feel neglected by the central power. These rebels must maintain a military force and they only survive if they know how to pay their troops. The coins issued by Brutus after the murder of Caesar are appreciated by numismatists.
After the Severan dynasty, the imperial territory becomes increasingly unmanageable. Postumus reigns in a very extended Gaul. His coins in gold, silver and bronze are of better quality than the Roman coins but he is assassinated by his own soldiers in 268 CE. On his coins, his portrait is very finely engraved.
In 286 CE Carausius directs a Roman fleet in the Channel. Accused by the central power of conspiracy with the pirates whom he should have fought, he secedes. Carausius takes a great care to the quality of his coinage and to the propaganda formulas that proclaim his loyalty to the traditional values of the empire.
There was no chronicler in that dark period, and we know almost nothing of his successor Allectus. He would have been the treasurer of Carausius, whom he would have murdered in 293 after military defeats. He was killed during the re-conquest of Britannia by the Romans in 296. The currency of Allectus continues that of Carausius. His main mint is at Londinium.
Found in March 2019 in Kent by a metal detector near an ancient Roman road, an aureus of Allectus was sold for £ 550K from a lower estimate of £ 70K by Dix Noonan Webb on June 6, 2019, lot 1403. It is marked ML meaning that it was done in London.
Prohibited after his fall, the coins of Allectus have very little circulated. This aureus is in very good condition, with a stunning strike. The portrait shows a man with abundant hair and beard, matching the same fashion as Postumus. The reverse shows an allegory of the sun god surrounded by two slaves, with the formula Oriens Aug which means that the sun rose for this emperor.
After the Severan dynasty, the imperial territory becomes increasingly unmanageable. Postumus reigns in a very extended Gaul. His coins in gold, silver and bronze are of better quality than the Roman coins but he is assassinated by his own soldiers in 268 CE. On his coins, his portrait is very finely engraved.
In 286 CE Carausius directs a Roman fleet in the Channel. Accused by the central power of conspiracy with the pirates whom he should have fought, he secedes. Carausius takes a great care to the quality of his coinage and to the propaganda formulas that proclaim his loyalty to the traditional values of the empire.
There was no chronicler in that dark period, and we know almost nothing of his successor Allectus. He would have been the treasurer of Carausius, whom he would have murdered in 293 after military defeats. He was killed during the re-conquest of Britannia by the Romans in 296. The currency of Allectus continues that of Carausius. His main mint is at Londinium.
Found in March 2019 in Kent by a metal detector near an ancient Roman road, an aureus of Allectus was sold for £ 550K from a lower estimate of £ 70K by Dix Noonan Webb on June 6, 2019, lot 1403. It is marked ML meaning that it was done in London.
Prohibited after his fall, the coins of Allectus have very little circulated. This aureus is in very good condition, with a stunning strike. The portrait shows a man with abundant hair and beard, matching the same fashion as Postumus. The reverse shows an allegory of the sun god surrounded by two slaves, with the formula Oriens Aug which means that the sun rose for this emperor.
691 Heraclius Dechristianised
2012 SOLD 110 K£ before fees
Islam could not ignore Heraclius, the Byzantine emperor who reigned at the time of the Hijra and of Muhammad's death. This period was extremely violent, and you can admire the fact that Heraclius managed to stay in power for thirty years.
Muslims were at war against Heraclius, of course, but they were also fine strategists who appreciated the crusades ofthe emperor against their common enemies, the Persians.
Theocratic emperor, Heraclius had incurred the hostility of the top Christian clergy by an incestuous marriage.Theologian, he had tried to reconcile Christian heretics instead of fighting them. Muslims soon recuperated theirformer adversary as a hero.
On April 25 in London, Baldwin's sells an Islamic gold coin dated 72AH (691AD), exactly fifty years after the death of Heraclius.
On both sides, it is a copy of one of the last solidus of the emperor. On one side he is seen with his two sons, but the orb of the cross that was originally held by each character has been deleted. On the other side, the cross of Christ has lost its horizontal branch (though Heraclius had lived one century before iconoclasm, the body of Christ is not shown on his coins).
This Islamic coin has another outstanding feature: it is the earliest gold coin that contains the Kalima, the creed thatGod is one and Muhammad is his prophet.
POST SALE COMMENT
This interesting witness of the relationship between two civilizations was sold £ 110K before fees.
Muslims were at war against Heraclius, of course, but they were also fine strategists who appreciated the crusades ofthe emperor against their common enemies, the Persians.
Theocratic emperor, Heraclius had incurred the hostility of the top Christian clergy by an incestuous marriage.Theologian, he had tried to reconcile Christian heretics instead of fighting them. Muslims soon recuperated theirformer adversary as a hero.
On April 25 in London, Baldwin's sells an Islamic gold coin dated 72AH (691AD), exactly fifty years after the death of Heraclius.
On both sides, it is a copy of one of the last solidus of the emperor. On one side he is seen with his two sons, but the orb of the cross that was originally held by each character has been deleted. On the other side, the cross of Christ has lost its horizontal branch (though Heraclius had lived one century before iconoclasm, the body of Christ is not shown on his coins).
This Islamic coin has another outstanding feature: it is the earliest gold coin that contains the Kalima, the creed thatGod is one and Muhammad is his prophet.
POST SALE COMMENT
This interesting witness of the relationship between two civilizations was sold £ 110K before fees.
696 The Umayyad Reform
2014 SOLD 135 K£ before fees
The first Muslim coins were made from reuse and plagiarism of Byzantine coins. The Emperor Heraclius, a contemporary of the Hegira, was long regarded as a hero for his long reign, his strong personality and his unusual religious positions.
The fifth Umayyad caliph, Abd al-Malik, made a monetary reform that was very bold for its time.
In 72AH (691AD), he made inscribed the Kalima in Arab characters on a gold coin of Heraclius. Kalima is the profession of faith that God is one and Muhammad is his prophet. An example of this edition was sold for £ 110K before fees by Baldwin's on April 25, 2012.
The next step is the withdrawal of the figures, only leaving an Arabic text on both sides of the coin. After a few years of pattern testing, the first regular gold dinar meeting this new design is released in 77AH (696/697AD) and the first silver dirham in 79AH.
An example of the first gold dinar in very fine condition is estimated £ 150K for sale by Baldwin's in London on August 6. Both sides are illustrated on the release shared by AuctionPublicity.
This monetary reform was a lasting success. The inscription limited its use to the Muslim world but also showed the will of the Caliph to overcome the imperial authority. Byzantium did not like it at all but failed to oppose this remarkable initiative.
The disappearance of the figures anticipated and perhaps inspired the great Christian iconoclast crisis four decades later.
POST SALE COMMENT
Here is the result caught during the sale on the platform the-saleroom.com : £ 135K before fees.
The fifth Umayyad caliph, Abd al-Malik, made a monetary reform that was very bold for its time.
In 72AH (691AD), he made inscribed the Kalima in Arab characters on a gold coin of Heraclius. Kalima is the profession of faith that God is one and Muhammad is his prophet. An example of this edition was sold for £ 110K before fees by Baldwin's on April 25, 2012.
The next step is the withdrawal of the figures, only leaving an Arabic text on both sides of the coin. After a few years of pattern testing, the first regular gold dinar meeting this new design is released in 77AH (696/697AD) and the first silver dirham in 79AH.
An example of the first gold dinar in very fine condition is estimated £ 150K for sale by Baldwin's in London on August 6. Both sides are illustrated on the release shared by AuctionPublicity.
This monetary reform was a lasting success. The inscription limited its use to the Muslim world but also showed the will of the Caliph to overcome the imperial authority. Byzantium did not like it at all but failed to oppose this remarkable initiative.
The disappearance of the figures anticipated and perhaps inspired the great Christian iconoclast crisis four decades later.
POST SALE COMMENT
Here is the result caught during the sale on the platform the-saleroom.com : £ 135K before fees.
710 The Apex of the Umayyads
2014 Unsold
PRE SALE DISCUSSION
Within one century after the Prophet, the Muslim world has undergone its tremendous territorial expansion. The sixth Umayyad Caliph, al-Walid, reigned only 10 years from 86AH to 96AH but his conquests extend from Spain to Western India and also include North Africa.
Al-Walid was renowned for his piety. Gold dinars dated from 89AH to 92AH with a text locating their origin to the Mine of the Commander of the Faithful are almost sacred pieces.
It has been suggested that these extremely rare coins were minted in Hijaz during pilgrimages of the caliph. This hypothesis is far from proven. Coin making is a rather urban industry, and it was certainly less risky to transfer bullion than to carry already produced coins.
The coinages of the Mine of the Commander of the Faithful have a similarity between them throughout their four years of production. The lack of wear on the obverse die suggests that they were sparingly issued for presentation use.
Whatever the reason for their creation, they have become the most prestigious coins in the history of Islam. Morton and Eden sold a 89AH coin for £ 940K including premium on 23 April 2012 and a 92AH coin for £ 650K including premium on 4 April 2011.
The offering at auction of a coin dated 91AH, 710 in our calendar, is unprecedented. It is estimated £ 300K for sale inLondon on April 10 by Morton and Eden. It is illustrated on the release shared by UKauctionnews.
The hypothesis of a mystical or liturgical origin of the coins from the Mine of the Commander of the Faithful is reinforced by the later issue dated 105AH, i.e. after a lapse of thirteen years. Two coins have been recently sold at auction : £ 3.7 million including premium by Morton and Eden on April 4, 2011 and £ 790K including premium by Baldwin's on December 6, 2012.
Within one century after the Prophet, the Muslim world has undergone its tremendous territorial expansion. The sixth Umayyad Caliph, al-Walid, reigned only 10 years from 86AH to 96AH but his conquests extend from Spain to Western India and also include North Africa.
Al-Walid was renowned for his piety. Gold dinars dated from 89AH to 92AH with a text locating their origin to the Mine of the Commander of the Faithful are almost sacred pieces.
It has been suggested that these extremely rare coins were minted in Hijaz during pilgrimages of the caliph. This hypothesis is far from proven. Coin making is a rather urban industry, and it was certainly less risky to transfer bullion than to carry already produced coins.
The coinages of the Mine of the Commander of the Faithful have a similarity between them throughout their four years of production. The lack of wear on the obverse die suggests that they were sparingly issued for presentation use.
Whatever the reason for their creation, they have become the most prestigious coins in the history of Islam. Morton and Eden sold a 89AH coin for £ 940K including premium on 23 April 2012 and a 92AH coin for £ 650K including premium on 4 April 2011.
The offering at auction of a coin dated 91AH, 710 in our calendar, is unprecedented. It is estimated £ 300K for sale inLondon on April 10 by Morton and Eden. It is illustrated on the release shared by UKauctionnews.
The hypothesis of a mystical or liturgical origin of the coins from the Mine of the Commander of the Faithful is reinforced by the later issue dated 105AH, i.e. after a lapse of thirteen years. Two coins have been recently sold at auction : £ 3.7 million including premium by Morton and Eden on April 4, 2011 and £ 790K including premium by Baldwin's on December 6, 2012.
1474-1504 The Gold of the Catolicos Reyes
2012 SOLD 450 K€ before fees
The union of Aragon and Castile in the co-ordinated reign of the Catolicos Reyes, Ferdinand and Isabella (1474-1504),assures a lasting political stability in Spain. The renewed prosperity causes a standardization of the currency in whichthe basic unit is now the dobla castellana, a gold coin also known as the excelente.
The excelentes existed as multiples, marked for the highest values by the required amount of 10s in Roman numerals:X for 10, XX for 20, XXXXX for 50. They are generally not dated, and it is difficult to distinguish between the excelentes of castellanos of the early reign and the later excelentes of ducados.
The Huntington collection, consisting of 38,000 coins from Spain and Spanish colonies, was sold in March 2012 by Sotheby's as a single lot according to the sealed bidding process, for which the price was not disclosed. It was acquired by a consortium of buyers including the auction house Jesús Vico, which organizes a first auction in Madrid on June 26.
The top star of the Huntington collection is not in this first sale. Weighing 140 grams, this presentation coin of 50excelentes displaying the crowned figure of the two sovereigns is the largest known gold coin of the fifteenth century.
Estimated € 450K, a coin of 10 excelentes for sale on June 26 is smaller, weighing 35 grams, but with a similar theme.It was minted in Segovia. The catalog indicates that only two coins of 10 excelentes have survived, of different modelsso that the offered piece, like the specimen of 50 excelentes, is unique in its kind.
It is illustrated on the article shared by ABC.
POST SALE COMMENT
This coin of 10 excelentes was not the most prestigious piece of the Huntington collection. Its price, €450K before fees, corresponding exactly to the estimate, is a very good result for a medieval coin.
The excelentes existed as multiples, marked for the highest values by the required amount of 10s in Roman numerals:X for 10, XX for 20, XXXXX for 50. They are generally not dated, and it is difficult to distinguish between the excelentes of castellanos of the early reign and the later excelentes of ducados.
The Huntington collection, consisting of 38,000 coins from Spain and Spanish colonies, was sold in March 2012 by Sotheby's as a single lot according to the sealed bidding process, for which the price was not disclosed. It was acquired by a consortium of buyers including the auction house Jesús Vico, which organizes a first auction in Madrid on June 26.
The top star of the Huntington collection is not in this first sale. Weighing 140 grams, this presentation coin of 50excelentes displaying the crowned figure of the two sovereigns is the largest known gold coin of the fifteenth century.
Estimated € 450K, a coin of 10 excelentes for sale on June 26 is smaller, weighing 35 grams, but with a similar theme.It was minted in Segovia. The catalog indicates that only two coins of 10 excelentes have survived, of different modelsso that the offered piece, like the specimen of 50 excelentes, is unique in its kind.
It is illustrated on the article shared by ABC.
POST SALE COMMENT
This coin of 10 excelentes was not the most prestigious piece of the Huntington collection. Its price, €450K before fees, corresponding exactly to the estimate, is a very good result for a medieval coin.
1538 The Coinage of the New World
2014 SOLD for $ 590K including premium
In 1536, the production of coins of 3 reales is started in the private residence of Hernan Cortes in Mexico City, inaugurating the first mint in the Americas. Two years later, in 1538, following an imperial decree issued in 1537, the denomination of 3 reales is replaced by two new values, 4 and 8 reales.
The legendary silver coin of 8 reales was documented but nobody saw it until three units were found in the early 1990s in a shipwreck that occurred circa 1550.
This coin was a failure. Too difficult to manufacture, the 8 reales was stopped after a few weeks and had never been released to circulation. We know now that there was no other pieces from that coinage in the wreck and it is assumed that these coins were specimens sent to the Spanish imperial court.
They are indeed awkward with an irregular outline and traces of double strike. The engraving was however ambitious, with a beautiful coat of arms and the identification of the monarchs, Emperor Charles V and his mother Joan the Mad.
Importantly, the reverse bears the image of the Pillars of Hercules, symbol of the conquerors departing towards the immense ocean. Behind the columns, an oblique banner displays a part of the imperial motto. Later this banner will wrap the pillars, shaping the dollar sign as it is still used today.
Two of the three coins are in very good condition, having escaped corrosion despite the shipwreck. One of them is estimated over $ 500K, for sale in Orlando on November 6 by Daniel Frank Sedwick, lot 404 shared here on the Sixbid bidding platform. Sedwick specializes in the auction of numismatic treasures from shipwrecks.
This coin was also illustrated before sale by Artdaily.
The legendary silver coin of 8 reales was documented but nobody saw it until three units were found in the early 1990s in a shipwreck that occurred circa 1550.
This coin was a failure. Too difficult to manufacture, the 8 reales was stopped after a few weeks and had never been released to circulation. We know now that there was no other pieces from that coinage in the wreck and it is assumed that these coins were specimens sent to the Spanish imperial court.
They are indeed awkward with an irregular outline and traces of double strike. The engraving was however ambitious, with a beautiful coat of arms and the identification of the monarchs, Emperor Charles V and his mother Joan the Mad.
Importantly, the reverse bears the image of the Pillars of Hercules, symbol of the conquerors departing towards the immense ocean. Behind the columns, an oblique banner displays a part of the imperial motto. Later this banner will wrap the pillars, shaping the dollar sign as it is still used today.
Two of the three coins are in very good condition, having escaped corrosion despite the shipwreck. One of them is estimated over $ 500K, for sale in Orlando on November 6 by Daniel Frank Sedwick, lot 404 shared here on the Sixbid bidding platform. Sedwick specializes in the auction of numismatic treasures from shipwrecks.
This coin was also illustrated before sale by Artdaily.
1538 Beyond the Pillars of Hercules
2018 SOLD for $ 530K including premium
Hernan Cortes is all-powerful in Mexico City while asserting his loyalty to the King of Spain Charles I who is also Emperor Charles V. The Emperor wishes to retain control of his new territories. Nominated in 1535 as the first viceroy of New Spain, Antonio de Mendoza has the delicate mission of organizing the colony without displeasing Cortes.
Mendoza succeeds in this task perfectly. The first production line of Mexican coins is installed in the private residence of Cortes in 1536. The first denomination is 3 reales. In the following year an imperial decree replaces this first coinage with two denominations, 8 reales and 4 reales. 8 reales is the standard of the large Spanish silver coin created in 1497, which will become the model of the US dollar.
Due to a suspicion of fraud, the imperial administration audits the Mexican currency in 1545. In 1947 a scholar studies the interviews of this investigation. In compliance to the decree, a production of the 8 reales had been tried. It was soon abandoned because it was too difficult to achieve with the rudimentary equipment installed in Mexico City.
Historians are delighted but numismatists are frustrated : in 1947, nobody had ever seen such an 8 reales coin. At the beginning of the 1990s, a search in a shipwreck brought back a treasure chest containing 2000 silver coins, including three of these legendary pieces.
The drawing of this coin displays the Pillars of Hercules linked by a banner with the word PLUS, a summary of Charles V's motto indicating that the Strait of Gibraltar is no longer a limit for the imperial ambitions. The inscription Hispanie and Indiarum Re qualifying Charles and his mother Joanna leaves no doubt about this interpretation. This figure is at the origin of the modern sign of the dollar ($) according to the most probable hypothesis.
The coins have an irregular outline and a double hammering, confirming the difficulty of manufacture. They have the mark of the assayer R (Rincon), active from 1536 to 1538, replaced in the following year by the assayer P.
The three Mexican coins found in the wreck thus become the oldest American precursors of the US dollar. They are separated. The first auctions are organized too early, without the collectors being convinced about the real progress of the wreck inventory. In fact no other coin of 8 reales has surfaced.
The three units were graded by NGC. The best, AU-50, was sold for $ 374K including premium by Heritage on January 9, 2006. It is estimated $ 500K for sale by Heritage in Philadelphia on August 17, lot 30386. The coin graded EF-40 was sold for $ 310K including premium by Goldberg on May 26, 2008. The XF-45 was sold for $ 590K including premium by Sedwick on November 6, 2014.
Mendoza succeeds in this task perfectly. The first production line of Mexican coins is installed in the private residence of Cortes in 1536. The first denomination is 3 reales. In the following year an imperial decree replaces this first coinage with two denominations, 8 reales and 4 reales. 8 reales is the standard of the large Spanish silver coin created in 1497, which will become the model of the US dollar.
Due to a suspicion of fraud, the imperial administration audits the Mexican currency in 1545. In 1947 a scholar studies the interviews of this investigation. In compliance to the decree, a production of the 8 reales had been tried. It was soon abandoned because it was too difficult to achieve with the rudimentary equipment installed in Mexico City.
Historians are delighted but numismatists are frustrated : in 1947, nobody had ever seen such an 8 reales coin. At the beginning of the 1990s, a search in a shipwreck brought back a treasure chest containing 2000 silver coins, including three of these legendary pieces.
The drawing of this coin displays the Pillars of Hercules linked by a banner with the word PLUS, a summary of Charles V's motto indicating that the Strait of Gibraltar is no longer a limit for the imperial ambitions. The inscription Hispanie and Indiarum Re qualifying Charles and his mother Joanna leaves no doubt about this interpretation. This figure is at the origin of the modern sign of the dollar ($) according to the most probable hypothesis.
The coins have an irregular outline and a double hammering, confirming the difficulty of manufacture. They have the mark of the assayer R (Rincon), active from 1536 to 1538, replaced in the following year by the assayer P.
The three Mexican coins found in the wreck thus become the oldest American precursors of the US dollar. They are separated. The first auctions are organized too early, without the collectors being convinced about the real progress of the wreck inventory. In fact no other coin of 8 reales has surfaced.
The three units were graded by NGC. The best, AU-50, was sold for $ 374K including premium by Heritage on January 9, 2006. It is estimated $ 500K for sale by Heritage in Philadelphia on August 17, lot 30386. The coin graded EF-40 was sold for $ 310K including premium by Goldberg on May 26, 2008. The XF-45 was sold for $ 590K including premium by Sedwick on November 6, 2014.
The Legendary First "Dollar" of the Americas | The Finest of Only 3 Known Specimens | Up for auction now! #Numismatics https://t.co/NZDtrbgoUV pic.twitter.com/9cF2l78EX4
— Heritage Auctions - Coins (@heritagecoins) August 8, 2018
Heritage Auction’s World and Ancient Coin Platinum Night at the August American Numismatic Association convention will feature “The First Dollar of the Americas,” a hammered Mexico City-minted Carlos and Joanna 8 reales of 1538. https://t.co/Ftn7HfW6ZY pic.twitter.com/a5oU1bphsC
— Krause Publications (@KPNumismatics) June 29, 2018
1652 The First Coins of New England
2014 SOLD 650 K$ including premium
Economic activities are gradually organized in the British colonies of America. Trade is introducing foreign coins. Bartering furs and musket balls no longer meets the needs of this growing community.
In 1652, the government establishes a mint in Boston in charge of producing coins for the entire New England consisting in the colonies of Masathusets (spelling of the time), Plymouth, Connecticut and New Haven. Three denominations are created: 3, 6 and 12 pence, the latter being also a shilling.
This social progress responds primarily to a need for regulation. The new coins are worth less than their face value when they leave the American territory, and no effort is made to make them pleasant.
The faces are pewter gray without any figure, just punched on one side by the letters NE for New England and on the other side by the monetary value in Roman numerals. The very first emission has deep marks. In the next issues the punching is soft.
This very rudimentary coinage is in regression against the currencies issued two millennia earlier, and calls to counterfeiting. Very soon a figure is created. The first one is a willow, followed by other trees from 1660.
Coins with deep punching have certainly been made in the first year of the plant. A shilling graded AU50 by PCGS was sold for $ 417K including premium by Heritage on 11 August 2010.
On May 16 in New York, Heritage sells the best known example of the 6 pence coin, graded AU58 by NGC, lot 30258. It comes from the Newman collection.
POST SALE COMMENT
This piece of history was sold for $ 650K including premium. It is in a remarkable condition for its category.
In 1652, the government establishes a mint in Boston in charge of producing coins for the entire New England consisting in the colonies of Masathusets (spelling of the time), Plymouth, Connecticut and New Haven. Three denominations are created: 3, 6 and 12 pence, the latter being also a shilling.
This social progress responds primarily to a need for regulation. The new coins are worth less than their face value when they leave the American territory, and no effort is made to make them pleasant.
The faces are pewter gray without any figure, just punched on one side by the letters NE for New England and on the other side by the monetary value in Roman numerals. The very first emission has deep marks. In the next issues the punching is soft.
This very rudimentary coinage is in regression against the currencies issued two millennia earlier, and calls to counterfeiting. Very soon a figure is created. The first one is a willow, followed by other trees from 1660.
Coins with deep punching have certainly been made in the first year of the plant. A shilling graded AU50 by PCGS was sold for $ 417K including premium by Heritage on 11 August 2010.
On May 16 in New York, Heritage sells the best known example of the 6 pence coin, graded AU58 by NGC, lot 30258. It comes from the Newman collection.
POST SALE COMMENT
This piece of history was sold for $ 650K including premium. It is in a remarkable condition for its category.
1652 The Cradle of American Liberty
2010 SOLD 420 K$ including premium
PRE SALE DISCUSSION
In 1652, 23 years after the incorporation of the Massachusetts Bay Colony, Boston is already trying to demarcate from the colonial authority by authorizing the establishment of a silver mint.
Three values are created: 3 pence, 6 pence and 12 pence, the latter value corresponding to 1 shilling. In the first issue, the design is simplified to the extreme: on one side the value in Roman figures (III, VI or XII), on the other side the letters NE.
NE means New England, of course. Since 1643, four colonies (Massachusetts, Plymouth, Connecticut and New Haven) tried to unite their forces in the New England Confederation.
On August 11, a NE shilling graded AU50 by PCGS comes back to Boston to be sold by Heritage Auction Galleries, lot 3002.
This NE design was too simple and attracted counterfeits. It was immediately replaced by a model illustrated by a willow, which in turn will be replaced by an oak (1660) and a pine (from 1667 to 1682). Some inscriptions appear: the colonial origin (Masathusets, according to the spelling of the time) and the starting date of the mint (1652).
1652 on these coins would not indicate the date of melting. Only the first undated NE coins can be assigned with certainty to that year.
A piece of each of the three trees is listed in the same sale.
POST SALE COMMENT
This set was exceptional, and the four bids deserve to be kept in memory. Prices below include fees.
The coin of 1652, principal subject of the article above, was sold 420 K $. The three trees were sold respectively 230 K $ (willow), 161 K $ (oak), $ 92 K (pine).
Total of the four shillings: $ 800K. Excellent result.
In 1652, 23 years after the incorporation of the Massachusetts Bay Colony, Boston is already trying to demarcate from the colonial authority by authorizing the establishment of a silver mint.
Three values are created: 3 pence, 6 pence and 12 pence, the latter value corresponding to 1 shilling. In the first issue, the design is simplified to the extreme: on one side the value in Roman figures (III, VI or XII), on the other side the letters NE.
NE means New England, of course. Since 1643, four colonies (Massachusetts, Plymouth, Connecticut and New Haven) tried to unite their forces in the New England Confederation.
On August 11, a NE shilling graded AU50 by PCGS comes back to Boston to be sold by Heritage Auction Galleries, lot 3002.
This NE design was too simple and attracted counterfeits. It was immediately replaced by a model illustrated by a willow, which in turn will be replaced by an oak (1660) and a pine (from 1667 to 1682). Some inscriptions appear: the colonial origin (Masathusets, according to the spelling of the time) and the starting date of the mint (1652).
1652 on these coins would not indicate the date of melting. Only the first undated NE coins can be assigned with certainty to that year.
A piece of each of the three trees is listed in the same sale.
POST SALE COMMENT
This set was exceptional, and the four bids deserve to be kept in memory. Prices below include fees.
The coin of 1652, principal subject of the article above, was sold 420 K $. The three trees were sold respectively 230 K $ (willow), 161 K $ (oak), $ 92 K (pine).
Total of the four shillings: $ 800K. Excellent result.
1657 Cromwell Gold Coin
2021 SOLD for £ 470K including premium by Dix Noonan Webb
Oliver Cromwell takes in 1653 the title of Lord Protector of the Commonwealth of England, Scotland and Ireland. The gold and silver coins designed for the new regime, dated 1656 and minted in the summer of 1657, are a blend of tradition and modernism.
The team is highly experienced. The medalist Thomas Simon was chief engraver for the late King Charles I. The engineer Pierre Blondeau came from Paris to London in 1649 at the request of the Commonwealth to implement Warin's modern striking techniques. In order for his coins to look magnificent, Cromwell asks to use a screw press.
The half-crown is in silver, and the 20 shillings named the broad is in gold. The values are not marked, which suggests that they are pattern coins.
The illustration responds to Cromwell's megalomania. The Lord Protector is in profile in the laureate bust of a Roman Emperor. The inscriptions are in Latin, including the motto Pax quaeritur bello (seeking peace by waging war). The reverse is a crowned coat of arms, testifying to the monarchical ambition of the new master.
The 50 shilling dated 1656 is the only case of this denomination in British coinage. This pattern or presentation coin was undoubtedly made in a single production batch as a piedfort from the broad with the same dies but thicker planchets. The edge is inscribed unlike that of the broad which is grained, both as a precaution against clipping. It weighs 22.7 g for a diameter of 30 mm. About twelve units have survived.
One of them, in extremely fine condition except for a few minor marks, was sold by Dix Noonan Webb on January 21, 2021 for £ 470K including premium from a lower estimate of £ 100K, lot 1142. The link to the catalog is in the tweet below. The plan for a circulation release of Cromwell's gold and silver coins was canceled upon his death in 1658.
The team is highly experienced. The medalist Thomas Simon was chief engraver for the late King Charles I. The engineer Pierre Blondeau came from Paris to London in 1649 at the request of the Commonwealth to implement Warin's modern striking techniques. In order for his coins to look magnificent, Cromwell asks to use a screw press.
The half-crown is in silver, and the 20 shillings named the broad is in gold. The values are not marked, which suggests that they are pattern coins.
The illustration responds to Cromwell's megalomania. The Lord Protector is in profile in the laureate bust of a Roman Emperor. The inscriptions are in Latin, including the motto Pax quaeritur bello (seeking peace by waging war). The reverse is a crowned coat of arms, testifying to the monarchical ambition of the new master.
The 50 shilling dated 1656 is the only case of this denomination in British coinage. This pattern or presentation coin was undoubtedly made in a single production batch as a piedfort from the broad with the same dies but thicker planchets. The edge is inscribed unlike that of the broad which is grained, both as a precaution against clipping. It weighs 22.7 g for a diameter of 30 mm. About twelve units have survived.
One of them, in extremely fine condition except for a few minor marks, was sold by Dix Noonan Webb on January 21, 2021 for £ 470K including premium from a lower estimate of £ 100K, lot 1142. The link to the catalog is in the tweet below. The plan for a circulation release of Cromwell's gold and silver coins was canceled upon his death in 1658.
The extremely fine + rare 1656 gold Oliver Cromwell 50 shilling by Thomas Simon sold for a World Record Price of £471,200 yesterday!
— Dix Noonan Webb (@DixNoonanWebb) January 22, 2021
“This is the best collection of Cromwellania and the prices in the sale reflected the importance of these coins”https://t.co/GSHxmIPhaw pic.twitter.com/ZmtnmQUEak
1663 Petition against Coin Clipping
2018 SOLD for $ 550K before fees
Gold and silver coins become finer from the mid-16th century. The sharpness of the line and the regularity of the stroke are not for an aesthetic purpose. It is about fighting counterfeiting and clipping, a usual criminal practice of tearing metal in the circumference of the coins.
To replace hammering, the use of the mechanical press is tempting. For a long time its profitability is doubtful and the workers fearing for their employment oppose it with violence.
At the fall of King Charles I, an engineer from the Paris Mint named Pierre Blondeau is invited to install his machines at the Tower of London. Assisted by the English medalist Thomas Simon, he realizes a superb silver coin with the figure of Oliver Cromwell.
When the Stuart dynasty was restored in 1660, the problem of currency control remained crucial. In 1661 King Charles II decreed that the use of the screw press is mandatory for all his gold and silver coins. Blondeau returns to England. To compare between his competing Mint engravers Simon and the Roettier brothers, the king asks for silver pattern coins. In 1662 he chose Roettier.
Simon does not accept his defeat against a foreign engraver. The king's political preference for Roettier was obvious, but it must also be admitted that Simon's splendid relief was difficult to industrialize.
Meanwhile Blondeau develops a decisive invention that will finally end the clipping : the machine that hits the coin onto its circumference. In a vain hope that the king changes his decision, Simon realizes in 1663 two sets of the silver crown worth 5 shillings, with a text of supplication readably printed within the small width to demonstrate his know-how. These variants are identified by numismatists from the first word on the edge : Petition and Reddite. The Reddite's edge also includes the tiny figure of a sun rising from behind a cloud.
These pattern coins are extremely rare. One of them considered as the finest surviving Reddite was sold for £ 396K including premium by Spink on March 27, 2014. On January 10 in New York, Goldberg sells two Simon coins. Lot 1103 is a Petition graded SP 53 by PCGS, estimated $ 550K. It is illustrated in the post shared by DailyMail. Lot 1104 is a Reddite graded SP 35 by PCGS, estimated $ 95K.
RESULTS
Petition SP 53 SOLD for $ 550K before fees
Reddite SP 35 Unsold
To replace hammering, the use of the mechanical press is tempting. For a long time its profitability is doubtful and the workers fearing for their employment oppose it with violence.
At the fall of King Charles I, an engineer from the Paris Mint named Pierre Blondeau is invited to install his machines at the Tower of London. Assisted by the English medalist Thomas Simon, he realizes a superb silver coin with the figure of Oliver Cromwell.
When the Stuart dynasty was restored in 1660, the problem of currency control remained crucial. In 1661 King Charles II decreed that the use of the screw press is mandatory for all his gold and silver coins. Blondeau returns to England. To compare between his competing Mint engravers Simon and the Roettier brothers, the king asks for silver pattern coins. In 1662 he chose Roettier.
Simon does not accept his defeat against a foreign engraver. The king's political preference for Roettier was obvious, but it must also be admitted that Simon's splendid relief was difficult to industrialize.
Meanwhile Blondeau develops a decisive invention that will finally end the clipping : the machine that hits the coin onto its circumference. In a vain hope that the king changes his decision, Simon realizes in 1663 two sets of the silver crown worth 5 shillings, with a text of supplication readably printed within the small width to demonstrate his know-how. These variants are identified by numismatists from the first word on the edge : Petition and Reddite. The Reddite's edge also includes the tiny figure of a sun rising from behind a cloud.
These pattern coins are extremely rare. One of them considered as the finest surviving Reddite was sold for £ 396K including premium by Spink on March 27, 2014. On January 10 in New York, Goldberg sells two Simon coins. Lot 1103 is a Petition graded SP 53 by PCGS, estimated $ 550K. It is illustrated in the post shared by DailyMail. Lot 1104 is a Reddite graded SP 35 by PCGS, estimated $ 95K.
RESULTS
Petition SP 53 SOLD for $ 550K before fees
Reddite SP 35 Unsold
1663 Patterns for the Crown
2014 SOLD 396 K£ including premium
Ancient coins were hammered. The use of machines was developed from the mid-sixteenth century, initially without real success because they did not yet improve the production time.
Named "milled coins", the machined pieces had however the advantage of providing a better regularity. An appropriate mechanism for pressing the metal on its outline also enabled to engrave the rim.
In power since the Restoration of 1660, Charles II wants to modernize the coinage and asks his medalists to realize prototypes of milled coins. John Roettier is the only one to respond and the king accepts his project.
In 1663, his competitor Thomas Simon is deeply upset to have been overcome. On the format of the crown worth five shillings, Simon strikes a small series of silver coins and also some specimens in pewter, bearing his name.
Simon's Crowns have a single basic pattern : on one side the portrait of the King in high relief, and on the reverse the Garter surrounded by four shields. They are splitted into two variants by the inscription of the edge, whose sharpness is a real technological feat for that time.
The Petition crown includes an English text of 200 letters in two lines. A great unit was sold for £ 207K including premium by Spink on September 27, 2007.
The other variant is named Reddite crown after the first word of its Latin text. The inscription on one line is shorter but the designer has added a drawing showing the rise of the sun over the storm, supposed to please the king as a symbol of the come back of the Stuarts.
The best known example of Reddite silver crown is estimated £ 100K, for sale by Spink in London on March 27. Here is the link to the press release.
Simon's work was exhibited to the king but did not change the decision. The rivalry between the two engravers was stopped by the untimely death of Simon in 1665, a year of plague in London.
Named "milled coins", the machined pieces had however the advantage of providing a better regularity. An appropriate mechanism for pressing the metal on its outline also enabled to engrave the rim.
In power since the Restoration of 1660, Charles II wants to modernize the coinage and asks his medalists to realize prototypes of milled coins. John Roettier is the only one to respond and the king accepts his project.
In 1663, his competitor Thomas Simon is deeply upset to have been overcome. On the format of the crown worth five shillings, Simon strikes a small series of silver coins and also some specimens in pewter, bearing his name.
Simon's Crowns have a single basic pattern : on one side the portrait of the King in high relief, and on the reverse the Garter surrounded by four shields. They are splitted into two variants by the inscription of the edge, whose sharpness is a real technological feat for that time.
The Petition crown includes an English text of 200 letters in two lines. A great unit was sold for £ 207K including premium by Spink on September 27, 2007.
The other variant is named Reddite crown after the first word of its Latin text. The inscription on one line is shorter but the designer has added a drawing showing the rise of the sun over the storm, supposed to please the king as a symbol of the come back of the Stuarts.
The best known example of Reddite silver crown is estimated £ 100K, for sale by Spink in London on March 27. Here is the link to the press release.
Simon's work was exhibited to the king but did not change the decision. The rivalry between the two engravers was stopped by the untimely death of Simon in 1665, a year of plague in London.
