Akragas, Sicily Tetradrachm - On Behalf of a Friend

A close friend of mine, whom I've known since age 8, has decided to diversify his portfolio. The idea for him to purchase ancients probably didn't come up naturally; as It is heavily discussed any time he's in my presence (it's hard not to.) He gave me absolute reign in deciding what era he would be collecting and simply gives me an amount he'd like to spend. Most of you know I'm partial to large silver Greeks; and even more partial to the Early Hellenistic to Early Classical period.

Just by coincidence, in one day's time, I had come across an auction that was ending in 18 hours after searching "Akragas." The watch was on. I was pleasantly surprised to see it go far below our willing budget.

I don't know if there are many who would say "My first ancient was an Akragas Tet from Sicily." I'm quite envious; as this is one of the coins that have been on my radar for years. The stars never quite align; as I had an extremely busy summer of acquisitions.



Akragas, Sicily. Circa 465/4-446 BC. Tetradrachm ΑΚRΑC - ΑΝΤΟΣ, Eagle standing left with closed wings / Crab within a shallow circular incuse.

28mm
17.15g

-Michael

 

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Wow, that is a seriously nice coin for your first ancient.

 

That is one very dangerous coin for a beginner's first purchase. Do tell him to be careful. There's been talk of some forged ones even making it into major auction houses lately.

 

Tis a beauty for sure.

 

@iamtiberius I give your friend 3 months before he ditches the whole "ancients for investment" thing and becomes an irredeemable ancient coins junkie. This stuff is worse than crack cocaine. I still remember my post from a year ago when I bought my first ancient saying "I won't buy more than 10 coins in the next year...I have self-control." Yeah right!

Your friend will soon be up at 2 AM browsing the latest ancients auctions, looking for his next fix.

 

I'm going to link him this Thread. It would be nice; seeing as how I do not know anyone, personally, that collects. Discussing in person must be nice for those of you who live relatively close to each other.

 

Only the 2nd coin that I've purchased/been involved with purchasing that's on wildwinds (that I know of.)

 

Fantastic coin, I think many of us would love to call that as "our first ancient". Love the crab especially.

 

Fantastic first ancient coin.

 

IMO, ancient coins are not a place to invest.

That goes for all coins in general. If your friend is young, buys the best examples available, and forms a collection as a hobby over several decades, he MAY make a "profit" in inflated money. If his investment is in knowledge and enjoyment, the value of his "investment" will be priceless. I'll suggest that after he purchases a few ancients, let him try to sell one in order to see what to expect if he needs a return on this "diversified investment."

BTY, while nice coins, I don't consider either coin above to be "investment grade."

If your friend is just thinking of making money (investing [?]) he would be better off contacting a dealer who sells the modern limited edition US coins with a purchase limit. The dealer will give him a quick profit for ordering the coins in his name for the dealer. Folks I know who do this (I've done it twice) make several hundred to over a thousand dollars a year!

 

I think you did your friend a great service. If you are investing, I recommend rarities or coins that grade extremely fine or better.

 

In addition; I seem to have found a die match in my searches:

 

We discussed this today; I think we're going to target higher quality Greek Silver. Smaller collection; but a much higher average quality as compared to mine.

 

I guess I have an excuse to drag my most recent purchase out again!

 

My friend would not mind an even trade. I await your contact.

 

Wow, iamtiberius => unlike Insider, who seldom seems to have anything positive to add to these ancient threads, I really like your OP-coin (I hope that young dude loves his coin and ends-up making a profit)

Ummm, but I never like to think of my coins as being an investment ...

=> they're merely a "hobby" (sure, hopefully my inheritor will be able to retrieve a bit, or all of the/my money, but that is totally their biz)

Oh, but more importantly => here is my cool example ...




This baby may not be of "investment quality" ... but it fricken rocks!!

 

LOL, that's why I refuse to let myself buy any Roman coins. I'm also afraid of becoming addicted to them.

 

@stevex6 Insider calls them as he sees them. No sugar coatings, never.
I collect everything that I fancy. The grades range from Poor to FDC. The prices start at FREE and go up. I've never seen a coin I didn't like even if I did not want it for myself. Your coin is nice. Ancientnut's is out-of-this-world.

 

That's a wonderful choice for a first coin (OP) and I could rave for hours about the Tet @ancientnut posted

I'm also one of those who 'never met a coin I didn't like' (google Will Rogers ) and my attempt to replace the collection sold years ago is not at all an investment, but like Steve is a wonderful hobby which will be left to an heir who will do with it as he decides---I don't think I'll have very much to say about it either way (Is it too late to say BOOOO) LOL

 

well, it's a great coin...that's for sure. i think your friends in good hand with his "ancient broker"...plus you get to buy sweet coins. sounds like a fun job!

so what was your friends reaction to the coin? did he love it and ask for more? throw it with the bullion in a safe deposit box? somewhere in between?

i think @TIF had a similar experience once didn't you? a friend gave you a wad of cash to buy an ancient coin?