The frog staters of Seriphos

This interesting and controversial coin being offered on May 20 in NAC Auction 84:
http://www.sixbid.com/browse.html?auction=1933&category=40015&lot=1681003 led me to do a little research.
The small island of Seriphos, in the Cyclades group, lies about 60 miles Southeast of Athens. In antiquity it had a reputation for poverty and insignificance. It was also known for its large population of frogs. In Greek mythology Zeus silenced these frogs as punishment for not letting Perseus sleep upon his return from killing Medusa in her lair.
The first frog stater of Seriphos was published in 1897 and only a few specimens are known. There is one is the American Numismatic Society collection:
http://numismatics.org/search/id/1967.152.286
Another example was in the Dewing collection:
http://www.perseus.tufts.edu/hopper/image?img=Perseus:image:1990.26.0131
Searching online, I was able to find only three sales of the type:
1. Ars Classica, Auction XV, July 2, 1930, Lot 845, price realized not listed:
http://www.acsearch.info/search.html?id=66695
2. Leu Numismatik AG, Auction 81, May 16, 2001, Lot 229, realized $37,827, including buyer’s fee:
http://www.acsearch.info/search.html?id=82784
3. Fritz Rudolf Kunker GmbH, Auction 94, September 27, 2004, Lot 936, realized $52,330, including buyer’s fee:
http://www.acsearch.info/search.html?id=188675
(A copy offered in CGB Auction 47, March 19, 2011, Lot 95 went unsold:
http://www.acsearch.info/search.html?id=965769 )
Perhaps due to its rarity, the type is not listed in David R. Sear’s Greek Coins and Their Values, Volume 1, 1978. Sears lists only three bronze issue for Seriphos: 3141-3143, page 286.
The controversy apparently began in 2006 with the publication of The Archaic and Early Classical Coinage of the Cyclades, by K.A. Sheedy. In this work the author stated that all known specimens of the frog stater, with the exception of the BMC specimen, might be forgeries.
Oliver D. Hoover in Volume 6 in The Handbook of Greek Coinage Series includes the issue (682, page 166), but states on page 165: “The publication of the first know frog stater in 1897 led to such a stream of forgeries that at least one scholar [Sheedy] has suggest[ed] that only the original stater is authentic. Because of the open question of authenticity two rarity ratings [R3, R2] have been provided in the catalogue.”

Since the NAC offering appears to be the first specimen offered for sale since the publication of Sheedy, it will be interesting to see whether the lot sells and, if so, for what price!

 

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wow, those are awesome (I don't have a frog in my animal kingdom) ... sadly, I also don't have several thousand bucks to gamble on a possible fake (cool post ... thanks)

 

The type is on my dream list, unlikely to ever be acquired .

 

It's on my NIGHTMARE list. If I ever managed to acquire one, how would I know if it was authentic or not?

 

Well, I don't know about all of you but I'm starting to save for one right now!!!

Hmmm, since I'm pushing 65 I wonder if my spare change will do it??

Yikes, a frog for $30-$40,000.00

 

mmmm, frog coins (one day)

 

The island had a reputation for poverty, yet they were minting 12g silver coins? That doesn't quite add up.

 

The frog staters are excessively rare, so they were likely a very small issue of coinage, perhaps the only reason for their minting being pride.
From the description of the NAC specimen:
"Relatively few frog staters are known, and they appear to form a tightly-knit group, making it possible – if not likely – that the entire mintage was produced in a compressed period, if not a single episode, perhaps in about 530 B.C."

 

It's extremely unfortunate that counterfeiters have cast suspicion on these coins.

 

I agree, JA: counterfeiters and K.A. Sheedy. I don't know if you looked at the NAC coin, but it certainly looks genuine to me!

 

The fabric certainly looks ancient enough.

 

The issue was large enough to require several dies. How many duplicates do you see here?

 

As far as the bidding goes, it's all relative to the size of your wallet. I wouldn't mind spending $50 on a coin of questionable authenticity. Perhaps my decision would eventually be vindicated, and if it wasn't, I would not have lost too much money. Someone who has a thousand times as much money as I do might feel the same way about $50,000?

 

Nearly all of the known examples seem to be poorly centered, poorly struck, and worn. I have examined the photos carefully and it would be difficult to do a die study of the issue and determine how many obverse and reverse dies were used.

 

I was invited to the ANS' vault and was able to spend the better part of a day viewing their trays and trays of coins. If it's of any assistance, here's my phone picture of their Seriphos stater, taken at a bit of a different angle than their website picture:

 

Thanks for that pic, Joe. They certainly are charming coins. On that ground alone, I hope they're authentic.

 

I agree - it would be a shame for them to be a relatively modern invention, as they are very appealing in my eyes as well.

 

I was always under the assumption all were fake (19th century struck and casts of such) and the coin never really existed. I never researched it any further. Its funny for me to see this coin come up for topic.

 

he I have a frog in my garden for free )
crazy price it is still only metal..

 

The frog stater in NAC 84, Lot 627, did not sell.