Menu
Welcome Sign-In | Join Now
Sold for Sign-in or Join (free & quick) includes Buyer's Premium (BP) 

Description

Earliest Type Coin?

Uncertain City. Ca. 670-660 BC. EL hemistater (15.21 mm, 7.21 gm).  Field of striated lines, resembling ripples on water / Two incuse square punches, side-by side, with rough interior surfaces. Cf. Linzalone, "Electrum" 1024 (triple incuse punch). Extremely rare. Good Very Fine.

In the recently published  "Electrum and the Invention of Coinage" (Dennis McMillan, 2011), author Joe Linzalone presents a convincing case that the 'striated' Ionian issues of circa 670-660 BC should be considered the first true coin types 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.

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

Sales Tax information  |  Terms and Conditions

Bidding Guidelines and Bid Increments

Glossary of Terms

Auction Info

Auction Dates
January, 2013
6th-7th
Internet/Mail/Phone Bidders: 5
Members Tracking: N/A
Page Views: 619

Buyer's Premium per Lot:
17.5% of the successful bid (minimum $14) per lot.

Heritage membership

941,227
bidder-members
$878,327,059
sold in the last year

Join Now - It's Free

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 1 day left to consign to the 2015 September 16 - 21 US Coins Signature Auction - Long Beach!

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
View More Testimonials

HA.com receives more traffic than any other auction house website. To compare for yourself, visit: compete.com

Video tutorial

Getting the most out of search

Recent auctions

2015 July 9 - 12 Summer FUN US Coins Signature Auction - Orlando Summer FUN
2015 July 9 - 12 Summer FUN US Coins Signature Auction - Orlando Summer FUN
REALIZED $8,308,723
2015 April 9 - 14 CICF World Coins & Ancient Coins Signature Auction - Chicago
2015 April 9 - 14 CICF World Coins & Ancient Coins Signature Auction - Chicago
REALIZED $6,503,481
2015 April 22 - 28 CSNS Currency Signature Auction - Chicago
2015 April 22 - 28 CSNS Currency Signature Auction - Chicago
REALIZED $10,592,191

© 2015 Heritage Auctions | All Rights Reserved