Some Thoughts on CNG Triton XXV

If anyone thought the ancient coin "bubble" had broken, guess again . The ancient coin market is alive & well despite hoards of coins like the Owls flooding the market . I bid on 6 coins & managed to win 2 of them, but won't post them until they are in my talons . Pictured below are photos of coins from the auction that impressed or shocked me. All the prices realized include the buyer's premium. For an enlarged view just click the coin's image. Comments are welcome .


Lot 29. LUCANIA Metapontum, circa 280-279 BC. AV Tetrobol: 2.79 gm, 13.5 mm, 1 h. Estimate $7,500, price realized $57,600 ! This handsome little gold coin was auctioned 3 years ago at CNG for $10,000.


Lot 101. SICILY Syracuse, struck circa 405-400 BC. AR Decadrachm: 43.32 gm, 35 mm, 12 h. Both obverse & reverse are signed by Kimon. This coin was deaccessioned from the Coin & Medal Cabinet of the French National Museum in 1962. Estimate $60,000, price realized $252,000. This breathtaking gem was one of the auction highlights .


Lot 144. MACEDON Chalkidian League, circa 283-282 BC. AR Tetrabol: 2.41 gm, 14.5 mm, 6 h. Estimate $1,000, price realized $26,400 ! This little gem was a shocker . The mesmerizing portrait of Apollo looks like a teenager .


Lot 250. IONIA, circa 650-600 BC. EL Trite (1/3 stater): 4.78 gm, 12.5 mm. Estimate $5,000, price realized $50,400 ! I think most people would pass by this little blob of electrum if they saw it at a flea market .


Lot 536. EGYPT Ptolemy V Epiphanes, 204-180 BC. AR Tetradrachm: 14.09 gm, 24 mm, 1 h. Estimate $3,000, price realized $36,000 ! This is a rare early portrait of the young king, struck circa 199-198 BC.


Lot 585. INDIA Kushan Empire, Vima Kadphises, circa AD 113-127. AV Double Dinar: 15.94 gm, 26 mm, 12 h. This very rare coin is part of the bilingual series that was struck at the Baktria Mint. Estimate $50,000, price realized $252,000 ! Ex Archytas Collection. Kushan gold coins were HOT. Is this an indication of a booming economy in India today ?


Lot 237. IONIA Magnesia ad Maeandrum, circa 150-140 BC. AR Tetradrachm: 16.61 gm, 32.5 mm, 12 h. Estimate $2,000, price realized $9,000 !

I bought an example of this coin type from Roma Auction XIX, 2 years ago that compares favorably to the CNG coin above for $2,800 .


IONIA Magnesia ad Maeandrum, circa 150-145 BC. AR Tetradrachm: 16.89 gm, 31 mm, 12 h. At one time this coin was slabbed by NGC, AU*, Strike 5/5, Surface 5/5.


Lot 713. MESOPOTAMIA Edessa. Caracalla, AD 198-217. Billon Tetradrachm: 14.74 gm, 26 mm, 11 h. Estimate $1,000, price realized $1,320.

I was bidding on this coin when all of a sudden I was disconnected ! By the time I got reconnected the coin had sold .

 

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Lot 29 was on my list and I went a bit over estimate with my bid, but never expected to win. I was shocked by the sale price however.

I had tagged 144 as a coin of interest but forgot to bid on it... but glad to see it would have been a waste of time anyways. An insane hammer.

Lot 237 I was watching also. That is also a crazy price for that. I was the underbidder to your example of this type from Roma XIX, but my coin budget was smaller then and I let it go to bid on other lots. That was a good pickup and though I'm happy for you, I've always been a little envious

I was hopeful for a decent shot at this coin but got completely blown away. I went a good amount over estimate but I wasn't even close. Estimate was $7,500 and hammer was $32,000.

SICILY, Akragas. Circa 465/0–445/0 BC. AR Tetradrachm (27mm, 17.33 g, 1h). Sea eagle standing left; AKRAC-AИTOΣ around / Crab, with carapace in the form of a human face, within incuse circle. Westermark, Coinage, Period II, Group II, 349b.29 (O10/R35) = SNG Lockett 692 (this coin); HGC 2, 77; SNG ANS 973 (same dies); SNG Lloyd 804 (same dies); Bement 334 (same dies); Gulbenkian 161 (same dies); Kraay & Hirmer 171 (same dies). Toned with traces of find patina, small die break on reverse, minor flan flaws (indications of undertype?). EF.

From the Pythagoras Collection. Ex Richard Cyril Lockett Collection (Greek Part 1, Glendining, 25 October 1955), lot 576; Ars Classica XV (2 July 1930), lot 268.


This Naxos drachm is the 2nd coin I was focusing on. It went for a relatively justifiable price, I just wasn't willing to go quite that high. Hammered at $15,000 on a $5,000 estimate.

SICILY, Naxos. Circa 461-430 BC. AR Drachm (18mm, 4.22 g, 1h). Bearded head of Dionysos right, wearing ivy wreath / Silenos, nude and ithyphallic, squatting half-left, holding kylix in right hand and supporting himself with his left, tail behind; N-A-XI-ON around; all within shallow concave circular incuse. Cahn 56.26 (V41/R47 – this coin); HGC 2, 990; SNG ANS 518–9 (same dies); SNG Lloyd 1152 (same dies); BMC 9 (same dies); Boston MFA 305 = Warren 274 (same dies); Jameson 676 (same dies); de Luynes 1064 (same dies); Pozzi 507 (same dies); Sartiges 111 (same dies). Old cabinet tone, traces of find patina, die break on obverse (typical for die). VF. Well struck on a broad flan.

From the Pythagoras Collection. Ex Naville V (18 June 1923), lot 981; Gustave Durulfé Collection (Rollin & Feuardent, 9 May 1910), lot 151; G. Empedocles Collection.

 

Go figure, if they are so brilliant, they should have purchased such beautiful works of art years ago. I'm glad I have to root around to find my treasures. I enjoy them just as much if not more. That saying, I really hope they enjoy these numismatic
masterpieces.

 

Here's my Chalkidian League tetrobol.

I must admit that I was surprised at the $26k for their tetrobol, since usually those kind of prices are reserved to the tetradrachms, and even then they're usually not that high.

I realize that mine is a tad bit rougher than Triton's, so I'll sell mine for only $5k.

Macedon. Chalkidian League.​

Olynthos AR Tetrobol / Kithara 432-348 BCE
13mm 2.26g
Obverse: Head of Apollo right
Reverse: X-A-Λ-KIΔ-EΩN, kithara
SNG ANS 527
Ex Marc Breitsprecher​

 

I'm trying to understand the side view of Siva on this coin. Apparently he's a contortionist

 

I saw that 50k Kushan go for over a quarter of a million and was just dumbfounded. I was really surprised with how much ancient gold from India they had. And, as you noted, even more surprised at how much they went for.
Am I the only person who when perusing these SUPER auctions adds coin types to my watch list that I already have (or similar) just to see what they sell for?
This little beauty on a $750 estimate went for $2,750!


Though, mines provenance is exceptional. It was owned by me!


On a $,3000 estimate at least two bidders thought it was worth a grand more selling at $13,000


My humble example liked that:


And lastly, this beauty doubled its 10k estimate going for 20k:


Funny enough, that's almost exactly 100 times what I paid for my pieces...I mean piece

 

I have two related questions: How many of the billionaires currently driving up prices are new to the hobby and have more money than they can spend on other interest? Second, how many of those new 'collectors' will get bored with coins in a few years or lose their current riches resulting on them consigning them back into the market to recoup 'normal' prices? How many of them paid high prices for second rate examples because they did not know that style matters?

Lot 101 is a perfect example. Great coin? Sure, unless someone comes up with one that is better centered and otherwise equal. Why was it deaccessioned by the French? Did they have several and this one was 'defective'? We won't know if someone made a 'good buy' until it is sold again. If this is $252,000, what would be the value of one with four dolphins? Remember a billionaire can afford to lose $100,000 as well as a millionaire can lose $1,000.

 

Not sure what happened but apparently when the dust settled the hammer was less than half of that (still a baffling amount):

 

TIF, Thanks for pointing out my typo , the final price with buyers premium was $252,000. I'll edit my error .

 

Wow I'm really impressed by all these prices! Maybe I should start thinking about something different, maybe playing cards? Because with these prices I certainly can't keep up

 

kazuma, The Sicilian/crab tetradrachm is a magnificent coin but the final price is staggering . I've seen many of these coins, but the ones with a human face on the crab are very unsettling to say the least . The early Sicilian engravers were unmatched with their virtuosity .

 

Many connoisseurs consider Kimon the greatest engraver of coins in the Classical Era. Coins bearing his signature are rare & coins with both sides signed are extremely rare. Many museums have sold their treasures to cover the cost of maintaining a workable institution, especially during the last decade. The internet no doubt has a lot to do with dwindling museum admissions & lost revenue .

 

Ryro, You've posted some very handsome Greek coins since I joined this website . I don't actively collect Greek coins because the high-grade coins I like are too expensive for my budget, but I've managed to score a few nice looking coins anyway. We're all limited to what we can afford, but looking at the best has no cost.

 

kirispupis, Don't hold your breath waiting for a 5K offer on your tetrobol , never the less, your coin is a handsome example .

 

Shiva, the Destroyer of Evil, can do anything he wishes .

 

I was just having some fun. In reality, I'm looking for about 10k.

 

Some crazy prices realized - these flagship auctions are becoming a bloodbath.

With that said, my target coin went for a strong but not shocking price.
Somewhat of a bucket list type, so this one stings a little

 

I bid on a grand total of 18 coins 15 in Triton and 3in the New York Sale. There were at least two others that I had planned to bid on but they opened above what I had planned to bid. I bid on 5 Greek Lost all of them Was the underbidder on three. 2 Colonial won 1 other bid went to bit heaven I had no idea if I had won or lost that coin until the next day, Three Republican lost all underbidder on all and 8 Roman Imperial Won 4 Lost 4 Underbidder on 2. Five of the coins (1 won four lost underbidder on all 4) were Jay Galst coins, whom I knew and wanted one from his collection. Thus I was bidding in a word Really STUPID and out of 5 try's got beat out in four. Over all I would have to say that the Greek was really strong The Roman Republic was very strong as well. The Imperial and colonial sections still offered some coins at a decent price but anything premium did go high.
My Jay Galst coin Denarius of Vespasian from Antioch Paid too much. But still very happy

 

I wouldn't be surprised if the prices of Kushan gold are being driven by wealthy collectors in China.

 

I find life is simpler at these auctions if you simply ignore the estimates.