Maximus price! Roman gold coin minted during reign of Emperor Augustus sells at auction for £480,000

• Coin was one of only 22 made and only seven that are in private collections
• It was described as 'truly extraordinary' by auctioneers
• The coin was in excellent condition and a 'beautiful work of art'

A gold coin struck during the reign of Roman Empire founder Augustus Caesar, pictured, has sold for £480,000

A unique gold coin struck 2,000 years ago during the reign of Roman Empire founder Augustus Caesar has sold for a £480,000.

The gold coin - called an aureus - was made between 27BC and 18BC and depicts a portrait of Augustus transformed into an ageless Apollo-like classical sculpture on one side.

On its reverse is an image of a heifer based on a long-lost masterpiece by a Greek sculptor.

The well preserved coin, celebrates the power of the man who founded the Roman Empire and laid the foundations of a regime that lasted for centuries.

Just 22 examples of the heifer-reverse aureus minted during the reign of Augustus are known to have survived, of which 15 are in museums.

Of the seven in private collections, the one that has now sold is among the best and most sought after.

Brisk bidding at the London auction saw the price of the coin soar past its pre-sale estimate of £300,000 and eventually go for a hammer price of £400,000.

With all the fees added on, the anonymous buyer paid £480,000 for the coin, making it one of the world's most expensive Roman coins.

Christopher Webb, of London auctioneers Dix Noonan Webb described the coin as 'truly extraordinary'.

Mr Noonan said: 'Not only is it a unique type of an already very rare coin but its condition after more than 2,000 years is extremely fine and visually it is a beautiful work of art.






The coin featured Augustus with a laureate on one side and a heifer on the other; it was one of 22 ever made, of which only seven are in private collections

'It also represents an epic period when Augustus built an empire that changed the course of human history.'

The 22 coins were split into five different types according to whether Augustus is depicted with a bare head or with a laureate, and which way the emperor and the heifer are facing.

The exact date of the auctioned coin and where it was minted remain unknown and the subject of much debate. But it is believed to have been struck between 27-18BC.

In 27BC Octavian, as he was then called, the great nephew of Julius Caesar, founded the Principate, the first phase of the Roman Empire.

He took the name of Augustus, meaning 'stately' or 'dignified', and began to stamp his authority on Rome and its territories.

It represents this key milestone in Roman and world history and depicts Augustus as a calm, powerful figure.

It is of the same style as the celebrated statue of Augustus which is now in the Vatican.

Augustus dramatically enlarged the Roman Empire, reformed the taxation system, developed a road network and established an army.

He transformed Rome with new buildings before dying in the month named after him - August - in 14AD.

 

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Well, lets see. That sum equals $810,000 plus auction fees of approximately 10%, making the total around $890,000. A person could sell that single coin and fund a very nice collection with a substantial amount left over for any other pursuit.

 

The buyer must have not watching the news lately. Gold prices are down.

 

It is a pretty coin but im surprised it went for that much.

 

One of the most beautiful Roman coins!

 

Fantastic and beautiful coin! I saw this in their catalog a few months ago and was very surprised it appeared in this auction, as most of the other lots are worth < $1000. It is an incredibly historic type, and these "heifer" aurei consistently set record prices when they're sold.

This is definitely a record price for one of these aurei but I wouldn't be surprised if it is topped in the future - one of the other beautiful examples sold for 525K CHF in 2008 in a relatively poorly attended sale and may end up passing it.

 

I've read about this auction on a few different sites. All sites referred to the coin as 1 of 22 made. Do these websites merely quote misinformation or is there some form of historical text that states only 22 of these were made?

 

No joke, a coin shop owner in SLC told me earlier this week he wouldn't give me as much for a few Denarii because silver prices are down. I laughed then proceeded to get out of the building as fast as possible.

 

He may have been in earnest. It's surprising how little most coin shop owners know about ancients. He may have honestly thought the current spot price of silver had something to do with the value of denarii.

 

Hadrien Rambach - a well known numismatist - wrote in cooperation with Alan Walker a very informative article on "heifer aurei", where the 24 known examples are illustrated.

https://www.academia.edu/2119999/The_heifer_aurei_of_Augustus

P.S:: Hadrien just sent me a mail where he mentioned that he sighted two further examples.

 

There are many suggestions of ignorance in the press but the people assigned to cover coin stories are a special breed. Oh, that these authors were as 'unique' as their misunderstandings. Certainly it is a nice coin but, given the opportunity to have just one Augustus, I would not select the cow.