Lot 1581

Description

Ionia, Miletus, (c.570-550 B.C.), electrum stater, (13.92 grams), obv. lion lying to left, head reverted, within rectangular striated border, rev. incuse rectangle between two small squares, within rectangle a fox to left, within squares cross formed pellets at each end and in centre, right square four dots joined by lines, (S.3439, £10,000; ACNAC Rosen 577 [similar dies], Babelon I, 17 [pl.i,15], Head, B.V., Principal Coins of the Greeks Pl.I, No.7). Good fine/very fine and very rare.

A similar example in our Noble Numismatics Sale No.57, 1-2 April 1998 (lot 729 sold for $13,200). One of the earliest coins. It was made in Western Turkey from about 600 B.C., out of electrum, a naturally occurring alloy of gold and silver. These electrum staters were made at three weight standards known today as the Phocaic, the Euboic and here in this coin the Milesian. The earlist coins have a design on one side and the reverse struck from three crude punches. As the coinage evolved these reverse punches evolved as is present on this coin, one of the most interesting of ancient coins, into a design and a pattern. The earliest this probably happened was near the towards the middle of the first half of the sixth century B.C. The attribution to Miletus is fairly certain as the lion with reverted head remained the type of Miletus for another four centuries, it also shares this weight standard with Lydia. Hill knew of oly six specimens of this then excessively rare coin. A few additional specimens have come on the market in recent times probably from a small hoard and includes it is believed this example.