Saw this on Roma site! EL Hekte ND struck circa 560-45BC 10mm. 2.62g. Ionia/ Phokaia obv. Head of Griffin/ Seal Swimming behind .....I cannot see seal! rev. Quadripartite Punch Bodenstedt 12 neat little coin
It's a nice coin but I hope you did notice there are 2 scuffs -one of the beak of the griffin and one just next to it...They are not obvious and I bet they weren't described.
Yes, but its the nicest one I have ever seen. It will not be that noticeable on a 10mm. coin. I once saw a fantastic AV 10 Dukaten 1628 from Salzburg. The coin was MS, but some idiot etched in a "X". That would have been a turnoff. Coin still went for 50K euros.
That is a major point against the UK based auction houses. They don't mention obvious scuffs, graffiti, edge cuts or even bankers marks in many cases. These have a major impact on the value of a coin even in FDC/MS condition at least for me. Does this amount to misrepresentation, intentional or unintentional? As experts shouldn't it be their duty to point out any major impairment or defect? Caveat Emptor??!!
If the problems are obvious, I don't see why the coin description must point it out. It's not like they are hiding it-- the scuffs are there for all to see. Perhaps the scuffs and the off-flan seal kept this from selling during the auction but I think it's a nice coin, assuming the price was in line with those of similar quality. Similar quality can be hard to determine though with so many variables. If P-man likes it, that's really all that matters .
I compared the Roma coin to example sold in Lanz Auction 151 6/2011 where it sold for 15,500 Euros+ fees=18K+/ probably was a bidding war???? My coin was 1488 UK Pounds fee included= so I think a good deal. Personally, I think European/ UK Auctions have higher grading standards. DNW/ Baldwins/ CNG/ Spink rank US TPG MS/FDC coins as good EF/EF. Even in US Double Eagles from 1890s from Carson City Mint, some MS-62 look like EF. But in the end TIF has a good point....one has to be happy with the coin I like the Roma (cheap) ex. more then the $$$$ Lanz one. John
There has been a tremendous amount of electrum coming out since the 2011 Lanz auction so prices have dropped significantly but, even then, Lanz estimating that hekte at 15K Eur in 2011 is absurd. My guess is it should actually have been estimated at and hammered at 1500 Eur, and that it was just a typo in the cataloging/data input. This isn't a particularly rare type and they never sell for that much. It's worth taking auction records with a grain of salt at times: every coin needs to be individually assessed and put in the proper context (i.e. was an oil sheikh involved, could there be a mistyping, did it actually sell).
If @panzerman was aware of the scuffs there's nothing more to discuss...it looked like a spontaneous/quick purchase that's why I thought I should warm him.... @AncientJoe provided a very well thought advice...I think there's an industry of fake sales which establish high hammer prices and then you're happy if you get a coin for less in a future auction
