A Shocker at Heritage Last Night

Discussion in 'Ancient Coins' started by Al Kowsky, Aug 5, 2021.

  1. Al Kowsky

    Al Kowsky Supporter! Supporter

    Out of boredom I ended up watching the weekly Heritage auction last night :bored:. Many high grade (slabbed) coins were fetching great prices, but one rainbow toned coin started a bidding war :punch:, see photo below. The coin sold for $1,080.00, including the buyers premium :jawdrop:! I don't ever remember a Philip I antoninianus selling for more than that :rolleyes:. Rainbow toned coins are popular with modern issues, especially Morgan dollars. Now it appears the fever has spread to ancient coins :smuggrin:.

    61243 slab.jpg
    HA 61243, 8-4-2021, $1,080.00.jpg
     
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  3. Tejas

    Tejas Well-Known Member

    Fantastic coin. The lion is so lifelike and the bust is great. However, the price is very hefty. I wouldn't be so keen on this rainbow toning though. Maybe the coin was exposed to great heat?
     
    Last edited: Aug 5, 2021
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  4. Theodosius

    Theodosius Fine Style Seeker Supporter

    Maybe it could be cleared up by cleaning with sodium thiosulfate?

    Ha ha just kidding.

    Let's hope the people creating fake rainbow toning don't get started on ancient coins now.

    John
     
  5. dltsrq

    dltsrq Grumpy Old Man

    I would say cleaned "bright" once upon a time and stored for an extended period in a non-archival paper envelope. The photos at NGC are better.
     
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  6. Mat

    Mat Ancient Coincoholic

    It's a wonderful coin. Can't say it's worth that much $ though. And I like the toning. Not sure if it's natural though.

    Some of the ancients I have gotten over the years have slowly gotten the look & they're in 2x2 flips.
     
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  7. gsimonel

    gsimonel Supporter! Supporter

    My guess is the "Strike 5/5, Surface 5/5" had a huge impact on the price. With modern coins, investors are buying the grade rather than the coin. Looks like these people have finally discovered ancients.
     
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  8. Roman Collector

    Roman Collector Supporter! Supporter

    The buyer didn't buy it for this ...

    61243, 8-4-2021, $1,080.00.jpg

    He bought it because of this ...

    61243 slab.jpg
     
  9. baseball21

    baseball21 Well-Known Member

    Definitely a very eye appealing coin, but that really shouldnt be described as rainbow toning. Rainbow toning is exactly what it sounds like with multiple vibrant colors aka how an actual rainbow looks
     
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  10. Marsyas Mike

    Marsyas Mike Well-Known Member

    Wow. That is a pretty one. I think I have a die match!

    Just kidding. But at the other end of the pretty/price spectrum, I got one of those this spring. It came in a huge eBay lot poorly photographed and described, so it worked out to only $1.24. Unfortunately, it's been plugged (12/6 o'clock), but still worth about a buck and two bits, I think:

    Philip I - Ant. Lion RIC 12 Lot Apr 2021 (0).jpg
    Philip I Antoninianus
    (248 A. D.)
    Rome Mint

    IMP PHILIPP[VS AV]G, radiate, draped and cuirassed bust right / SAECVLARES AVGG, lion walking right, I in exergue.
    RIC 12; RSC 173.
    (3.63 grams / 23 x 20 mm)
    eBay April 2021 Lot @ $1.24

    Condition Notes:
    Part of an eBay lot, in which (16) of the silver antoninianii and denarii were holed. Most had (4) holes at about 3 and 9 o'clock, probably for a bracelet mount. Some had only (1) hole, as if for suspension. All holes were plugged, on these, probably by the links being cut off flush.
     
  11. Al Kowsky

    Al Kowsky Supporter! Supporter

    These photos are NGC photos. I did some editing for this thread so it wouldn't take up too much space ;).
     
  12. Al Kowsky

    Al Kowsky Supporter! Supporter

    I agree to a point ;). Many common ancient coins that are "high grade" are bringing prices that were unthinkable 10 years ago :wacky:.
     
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  13. Al Kowsky

    Al Kowsky Supporter! Supporter

    The Heritage description described it as "rainbow toning", regardless of the accepted definition :p.
     
  14. Al Kowsky

    Al Kowsky Supporter! Supporter

    Last January I sold the coin pictured below at a CNG auction for $324.50, including the buyers premium. I'm sure the new owner is a toning freak :happy:.

    IMG_8499.JPG
    Julia Soaemias, AD 220-221, Sear 7719.jpg
     
  15. medoraman

    medoraman Supporter! Supporter

    Unfortunately, the buyer will only learn his lesson when s/he goes to sell this coin. As it is, I would pay my local dealer $60 if it appeared in his shop one day, maybe $80. The main attraction to me would be the reverse, as I have TONS of Phillip's, its a very common coin in high grade. Phillip and Gordian III in high grade used to abound in $20 pick bins 10 years ago. They are still very common coins in group lots. I am aware a Phillip collector can correct me how this is a rarer coin, and of course I would defer, I am just commenting on its value to me generically. VERY common emperor in high grade.

    Sure, others may pay more, but I am describing the base collector support price for the coin. If others want to pay for toning or plastic, then let them I guess.
     
  16. Al Kowsky

    Al Kowsky Supporter! Supporter

    Obviously not all collectors share your point of view. Collectors of ancient coins are driven by rarity, historical importance, style, die state, condition, toning, or a combination of these factors. Most of us would be in common agreement what an uncirculated ancient coin should look like. Ancient coins use "adjectival grading", unlike modern coins that tend to use the "Sheldon standard". Since nearly all uncirculated ancient coins have been cleaned at some point, so the Sheldon standard of MS1-MS70 could never apply. Personally I can appreciate rarity & historical importance, but I've never been driven by those factors in my search for coins.
     
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  17. medoraman

    medoraman Supporter! Supporter

    Of course sir. I just wanted others to understand how common high grade Phillip's are. If someone wanted to pay more then fine, just sharing what my base desire for the coin would be, and I believe many others are about where I am.
     
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  18. Sulla80

    Sulla80 one coin at a time Supporter

    Wow - a good example for me where the case & grading holds the value more than the coin. I may submit some coins to NGC. Phillip COS III.jpg

    Edit: Also worth noting that this isn't a new price record for Philip I. Here's a left facing, Antioch, Saeculares lion, from 2009 Auction for 1400 EUR.
    https://www.acsearch.info/search.html?id=623587
    While I may look at all Philip I's with bland disinterest, for someone this might have been a "once in a lifetime antoninianus"....
     
    Last edited: Aug 5, 2021
  19. Mat

    Mat Ancient Coincoholic

    Even with the toning & better reverse, I would still rebuy my current ant. of Philip I over the OP one.

    Was less than $50.

    [​IMG]
    Philip I (244 - 249 A.D.)
    O: IMP M IVL PHILIPPVS AVG, Radiate, draped and cuirassed bust right, from behind.
    R: LIBERALITAS AVGG II, Liberalitas standing left, counting board in right, cornucopia in left.
    Rome
    21mm
    5.8g
    RIC IV 38b, RSC IV 87 SRCV III 8937

    Heavy
     
  20. john65999

    john65999 Well-Known Member

    i buy errors, and the prices heritage gets, and great collections, on error coins are many times what you can get the same coins for on ebay, in my opinion..i have to bid on 200 lots at heritage, just to win 1 or 2..lol
     
  21. PlanoSteve

    PlanoSteve Supporter! Supporter

    ...or perhaps it's as simple as, the buyer was a newbie, & thought the "AR Double-Denarius" meant he/she was getting 2 coins! :joyful::joyful::joyful:;)
     
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