Ancient Gold

Lot 3138    Session 11 (9.30am Thursday)    Ancient Gold

Estimate $7,000
Bid at live.noble.com.au
SOLD $5,800

IONIA, Miletus, (c.570-550 B.C.), electrum stater, (13.862 grams), obv. lion lying to left, head reverted, within rectangular striated border, countermarked on right with rounded cross of Miletus as on reverse, rev. incuse rectangle between two small squares, within rectangle a fox to left before it three dots, within squares; a deer's head to right and in other square a cross formed between pellets at each end and in centre, (S.3439, [£10,000]; ACNAC Rosen 577 [similar dies], Traite I, 17 [pl.i,15], Head, B.V., Principal Coins of the Greeks Pl.I, No.7). Good fine/good very fine and very rare.

A similar example in our Noble Numismatics Sale No.57, (lot 729 sold for $13,200) and another in Sale No.67, (lot 1581 sold for $8,300). One of the earliest coins. It was struck in Western Turkey (after 600 B.C.), of electrum, a naturally occurring alloy of gold and silver. These electrum staters were made at three weight standards known today as the Phocaic, the Euboic and here, in this coin, the Milesian. The earliest coins have a design on one side and the reverse struck from three crude punches. As the coinage evolved these reverse punches evolved (as on this coin), into a design and a pattern. Recent numismatic reseach dates this coin towards the middle of the first half of the sixth century B.C. The attribution to Miletus is fairly certain as the lion with reverted head remained the type of Miletus for another four centuries. It also shares this weight standard with Lydia. Hill knew of only six specimens of this excessively rare coinage. A few additional specimens have come on the market in recent times probably from a small hoard and includes, it is believed, this example.