COIN MARKET INSIDER • VOLUME 33 • ISSUE 19

$6 Million Ancient Coin Shatters Record

The market for ancient coins continues to lead the numismatic world… and quite possibly the entire investment and collectible worlds too. The latest news from the marketplace was that a 2,400-year-old Greek Gold Stater sold at auction in Switzerland for $6 million. The coin has quite a storied history, including having once been sold by Josef Stalin.

Most Expensive Ancient Coin Ever Sold

A private collector acquired the 2,400-year-old gold stater, which was minted approximately between 340 BC and 25 BC. It originated from an ancient Greek city in Crimea.

The ancient Greek coin is an example of a Panticapaeum stater, in reference to the ancient Greek city in modern-day Crimea, although the Greeks themselves referred to the city as Taurica (Greek: Ταυρική).

This is a sign the whole market for numismatics continues to flourish and is especially strong for ancient rarities.

This important coin has interesting design elements and an intriguing provenance.
The coin has an engraving of the head of a satyr – a woodland spirit – on one side, and a griffin with a spear in its mouth on the other.

The symbolism of the satyr is thought to be a pun on the name of ancient king Satyros I.

The griffin alludes to the griffins believed to guard the gold found in the mountains of Scythia.

The coin was formerly part of the collection of the Hermitage Museum in St. Petersburg, Russia.

It was sold in an auction of the museum’s duplicates in 1934, when Russian dictator Joseph Stalin, decided to sell off art to raise money for Russian industry. It was then bought by the famous Greek coin collector, the Charles Gillet collection.

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