Watch List notes:

Caligula. Aureus; Caligula; 37-41 AD, Lugdunum, 37-8 AD, Aureus, 7.71g. BM-10 note; RIC-9 (R3); Giard, Lyon-159/2 (this coin); Calicó-331. Obv: C CAESAR AVG GERM P M TR POT Bare head of Caligula r. Rx: DIVVS AVG - PATER PATRIAE Radiate head of Divus Augustus r. Ex NAC 54, 24 March 2010, lot 328; ex Leu 38, 13 May 1986, lot 229; ex Leu 10, 29 May 1974, lot 328; ex Bourgey, 2-6 March 1925, Recamier Collection, lot 120. Rare with this obverse legend and bare-headed portrait of Caligula; Giard lists only three such coins, our specimen plus two others, in Vienna and Copenhagen. The variant with Caligula's portrait laureate is considerably commoner: Giard-166 lists 18 such specimens.Caligula aurei are very desirable and scarce, but usually come in only Fine to VF condition. This coin has a contact mark on the nose of Caligula as well as small contact marks in the field in front of his nose and mouth, but its long and distinguished pedigree attests to its quality and desirability. MS

Estimate: $97500