Roma Numismatics Ltd
Auction XX 29-30 Oct 2020
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Kingdom of Lydia, Kroisos AV Stater. Heavy series. Sardes, circa 564/53-505/500 BC. Confronted foreparts of roaring lion to right and bull to left, each with extended foreleg / Two incuse squares of unequal size. GRPC Lydia G50; Berk 2; BMC 30, pl. I, 14; Traité I, 396; Carradice, pl. X, 1; Boston MFA 2068-2069; McClean 8635; Rosen 660; SNG Copenhagen 454; Le Rider, Naissance, pl. V, 2; Gulbenkian 756. 10.56g, 17mm.
Extremely Fine; not suitable for NGC encapsulation (see below). Of the greatest rarity, possibly unique.
From the inventory of a US dealer;
Ex Numismatica Ars Classica AG, Auction 116, 1 October 2019, lot 193 (hammer: CHF 33,000);
Ex Prospero Collection, Baldwin's Auctions Ltd. - Dmitry Markov Coins & Medals - M&M Numismatics Ltd., The New York Sale XXVII, 4 January 2012, lot 564 (hammer: US$ 27,500);
Privately purchased from George Müller, 5 February 1985.
Kroisos is credited with issuing the first true gold coins with a standardised purity for general circulation. The series began on a 'heavy' standard, with gold and silver staters of equal weight, around 10.6-10.7 grams, which was later reduced to about 8.17 grams for the gold. Studies have shown that coins of both standards circulated together, but that the heavy standard was only used for a relatively short time compared to the light standard, which continued to be used into the Persian period.
All of the coins of Kroisos feature without variation his heraldic badge, the confronted heads of a lion and a bull, both ancient symbols of power. The badge itself doubtless stems from the ubiquitous and persistent theme of the lion-bull combat scene, which may be interpreted as a metaphor for divinely inspired heroic triumph. Indeed, divinely inspired heroic triumph was exactly what Kroisos expected when, encouraged by a prediction by the Delphic Oracle that if he attacked Persia he would destroy a great empire, Kroisos made his preparations for war with Cyrus the Great. The war resulted in defeat for Kroisos; his numerically superior army was smashed, and the capital Sardes was captured along with Kroisos and his family, who were immolated on the orders of Cyrus. Lydia became a satrapy of the Persian Empire, though it continued to mint coins in the traditional types, and indeed the legendary wealth of Kroisos was used by Cyrus to form the basis of a new Persian gold standard currency
This issue, which does not appear to share its dies with any other examples identified during cataloguing, is noteworthy in several respects. The style in which it is engraved sets it apart from the main body of the 'heavy series' coinage, being considerably more linear in its treatment of the two subjects, and in displaying both of the bull's horns (unless the second horn is in fact a coincidentally-located die break). The reverse incuse moreover has no division between the two separate punches, though this in itself is not significant - a substantial number of Kroiseid staters had their reverse punches struck sufficiently close together (or one overlapping the other) that the division is obliterated, though in the present case the punches appear more regular than is usually the case. For this reason NGC declined to encapsulate the coin for its current owner, but given that the coin has previously been studied and vouched for by George Müller at Spink & Son Ltd. in 1985, along with more recently the cataloguers at A. H. Baldwin & Sons Ltd., Numismatica Ars Classica AG and Heritage World Coin Auctions, having previously been part of the famous Prospero Collection, and considering the fabric and strike of the piece are consistent with that expected of an ancient struck coin, this may be an honest misstep. The style of this piece is far more consistent with the light series of coins which are attributed to "temp. Kroisos and later", and continued to be struck under the Achaemenid Persians after the fall of Sardes. In particular, the globular eyes with pronounced linear sockets with angular recesses and more stylised facial designs as well as the straight-lined bull texturing is more in keeping with these 'late issues' (cf. in particular Heritage NYINC Sale 3051, lot 34032). The combination of 'late' style, heavy weight standard and unusual reverse punch could potentially (and tantalisingly) be indicative of this being an irregular or trial issue, possibly of the early Achaemenid-controlled mint, the distinctions of which are not well understood even today save for very subtle aspects of style and fabric.
Extremely Fine; not suitable for NGC encapsulation (see below). Of the greatest rarity, possibly unique.
From the inventory of a US dealer;
Ex Numismatica Ars Classica AG, Auction 116, 1 October 2019, lot 193 (hammer: CHF 33,000);
Ex Prospero Collection, Baldwin's Auctions Ltd. - Dmitry Markov Coins & Medals - M&M Numismatics Ltd., The New York Sale XXVII, 4 January 2012, lot 564 (hammer: US$ 27,500);
Privately purchased from George Müller, 5 February 1985.
Kroisos is credited with issuing the first true gold coins with a standardised purity for general circulation. The series began on a 'heavy' standard, with gold and silver staters of equal weight, around 10.6-10.7 grams, which was later reduced to about 8.17 grams for the gold. Studies have shown that coins of both standards circulated together, but that the heavy standard was only used for a relatively short time compared to the light standard, which continued to be used into the Persian period.
All of the coins of Kroisos feature without variation his heraldic badge, the confronted heads of a lion and a bull, both ancient symbols of power. The badge itself doubtless stems from the ubiquitous and persistent theme of the lion-bull combat scene, which may be interpreted as a metaphor for divinely inspired heroic triumph. Indeed, divinely inspired heroic triumph was exactly what Kroisos expected when, encouraged by a prediction by the Delphic Oracle that if he attacked Persia he would destroy a great empire, Kroisos made his preparations for war with Cyrus the Great. The war resulted in defeat for Kroisos; his numerically superior army was smashed, and the capital Sardes was captured along with Kroisos and his family, who were immolated on the orders of Cyrus. Lydia became a satrapy of the Persian Empire, though it continued to mint coins in the traditional types, and indeed the legendary wealth of Kroisos was used by Cyrus to form the basis of a new Persian gold standard currency
This issue, which does not appear to share its dies with any other examples identified during cataloguing, is noteworthy in several respects. The style in which it is engraved sets it apart from the main body of the 'heavy series' coinage, being considerably more linear in its treatment of the two subjects, and in displaying both of the bull's horns (unless the second horn is in fact a coincidentally-located die break). The reverse incuse moreover has no division between the two separate punches, though this in itself is not significant - a substantial number of Kroiseid staters had their reverse punches struck sufficiently close together (or one overlapping the other) that the division is obliterated, though in the present case the punches appear more regular than is usually the case. For this reason NGC declined to encapsulate the coin for its current owner, but given that the coin has previously been studied and vouched for by George Müller at Spink & Son Ltd. in 1985, along with more recently the cataloguers at A. H. Baldwin & Sons Ltd., Numismatica Ars Classica AG and Heritage World Coin Auctions, having previously been part of the famous Prospero Collection, and considering the fabric and strike of the piece are consistent with that expected of an ancient struck coin, this may be an honest misstep. The style of this piece is far more consistent with the light series of coins which are attributed to "temp. Kroisos and later", and continued to be struck under the Achaemenid Persians after the fall of Sardes. In particular, the globular eyes with pronounced linear sockets with angular recesses and more stylised facial designs as well as the straight-lined bull texturing is more in keeping with these 'late issues' (cf. in particular Heritage NYINC Sale 3051, lot 34032). The combination of 'late' style, heavy weight standard and unusual reverse punch could potentially (and tantalisingly) be indicative of this being an irregular or trial issue, possibly of the early Achaemenid-controlled mint, the distinctions of which are not well understood even today save for very subtle aspects of style and fabric.