I recently added another low-budget but attractive Tet of Philip I . This is a common coin struck on a raggedy, underweight flan. Despite the porosity, the coin is well centered and has a well engraved obverse die . Antioch - Syria, Philip I (the Arab), AD 244-249 (struck AD 247). Billon Tetradrachm: 10.60 gm, 25.85 mm, 7 h. Obverse: Laureate bust facing right, draped, cuirassed, and seen from behind. Reverse: Eagle standing right, head right, wing to right behind leg, wreath in beak. Series 4, Group (b), Type 2 Eagle. McAlee 908, Prieur 368 (30 coins cited).
Is it just me or does it seems like more of these 3rd century silver tets of Antioch are becoming more available? Seems like either a hoard was found or for some reason folks are putting them on the market.
That's a good question with no easy answer . I had a meeting with Ken McDevitt from CNG a week ago, & the subject was brought up then. There appears to be no major hoard of 3rd century Tets from Antioch that have reached the market lately. That doesn't mean no new material is entering the market. Illegal hoards are constantly entering the market, but are they the size of the Owl hoard that's still being dispersed throughout the market? No. The interest & value of 3rd century Tets from Antioch has been growing largely because of the Michel Prieur collection being dispersed internationally, & many coins from Richard McAlee's collection that have been sold over the last decade. Ken did mention a large hoard of Byzantine anonymous nummi from the 10th & 11th century that have been saturating the market the last few years, with many high-grade coins being available. That Byzantine hoard hasn't depressed the market at all, & those high-grade coins are constantly being offered by many dealers & auction houses. Doug Smith recently suggested that a huge hoard of illegal coins could be sitting in a Swiss bank vault, & crazy as that seems, it may not be too far fetched .
