There are currently no items available for purchase in this Department. Search our Auction Archives below to find item values.
Lot
23123

Ancients: IONIA. Uncertain mint. Ca. 670-660 BC. EL stater (14.32 gm). ...

2011 September Long Beach Signature World & Ancient Coins Auction #3015

Sold for: Sign-in or Join (free & quick)
Claim Item: Sign-in or Join (free & quick)
Auction Ended On: Sep 7, 2011
Item Activity: 2 Internet/mail/phone bidders
4,050 page views
Location:

Long Beach Convention Center
300 E. Ocean Blvd.
Long Beach, CA 90802

 

Special Note: The Antiquities will be available for viewing at our Beverly Hills office only.

Description:
First True Coin
IONIA. Uncertain mint. Ca. 670-660 BC. EL stater (14.32 gm). Field of striated lines, resembling ripples on water / Triple incuse punch, with narrow rectangular punch arranged vertically between two roughly square ones. Linzalone, "Electrum" 1013 (this coin). Cf. Weidauer 5 (trite), footnote to the British Museum specimen. Traite I 16, pl. i, 12. BMC Ionia 1. Extremely rare, one of only 12 known examples. Good Very Fine.

In the new books "Electrum and the Invention of Coinage" (Dennis McMillan, 2011), author Joe Linzalone presents a convincing case that this Ionian issue of circa 670-660 BC should be considered the first true coin type ever struck. Pre-weighed lumps of electrum, some marked with a rough punch, had been employed as a medium of exchange for some years before this issue, but they lacked anything that could be called an obverse "type" or design. The field of striated lines seen here, Linzalone theorizes, could evoke the ripples of water in the stream beds where natural electrum was found in Lydia and Ionia, where coinage originated; alternatively it could simply be an abstract design engraved into the anvil striking surface intended to hold the blank in position. However, Linzalone points out the striated fields were maintained for a while even after other design elements were added, indicated more than a simple mechanical function. In any case, in his early treatise on economics and money, Aristotle stated that the addition of an obverse image was the decisive step to converting bullion into coinage. The striated stater is of special importance as it is the highest denomination initially struck; all other denominations served as fractions of a stater (see next lot). Only 12 striated full-weight staters are known to exist, all survivors from the very dawn of coinage.

View large image(s) of this item

Service and Handling Description: Coins & Currency (view shipping information)

Sales Tax information  |  Terms and Conditions

Bidding Guidelines and Bid Increments

Find Auction Prices for Comparable Items:

Photographs:
Sign-in or Join (free & quick) to see the full image


FLOOR AUCTIONS View All
Open For Bidding
Coming Soon
HERITAGE MEMBERSHIP
903,907
bidder-members
$990,383,489
sold in the last year
VIEW BENEFITS
  1. Past Auction Values (prices, photos, full descriptions, etc.)
  2. Bid online
  3. Free Collector newsletter
  4. Want List with instant e-mail notifications
  5. Reduced auction commissions when you resell your
    winnings 
CONSIGNMENTS WANTED
Only 8 days left to consign to the 2015 January 4 - 5 NYINC World Coins & Ancient Coins Signature Auction - Waldorf NYINC!
Learn About Consigning With Us
Your overall service is very good. The quality of the catalogs for major sales are superior and very accurately described.
M.F. ,
Elmwood Park, IL
HA.com receives more traffic than any other auction house website. To compare for yourself, visit: compete.com
Take our 2014 Coin
and Currency Survey
Grand prize:
A Certified Uncirculated
1907 High Relief $20!*
Take the Survey
HERITAGE VIDEO TUTORIAL
GETTING THE MOST OUT OF SEARCH
RECENT AUCTIONS
2014 October 27 The Eugene H. Gardner Collection II US Coins Signature Auction - New York
2014 October 27 The Eugene H. Gardner Collection II US Coins Signature Auction - New York
REALIZED $13,750,586
2014 September 3 - 10 Long Beach Expo World Coins Signature Auction - Long Beach
2014 September 3 - 10 Long Beach Expo World Coins Signature Auction - Long Beach
REALIZED $9,033,516
2014 September 4 - 8 Long Beach Expo World Currency Signature Auction - Long Beach
2014 September 4 - 8 Long Beach Expo World Currency Signature Auction - Long Beach
REALIZED $1,808,588