A97

AUCTION 97 12 December 2016

The America Collection A Highly Important selection of Roman Coins

Hotel Baur au Lac Talstrasse 1, 8001 Zurich Tel. + 41 (44) 220 50 20

NUMISMATICA ARS CLASSICA NAC AG www.arsclassicacoins.com

Niederdorfstrasse 43 Zurich CH-8001 Tel. +41 (44) 261 1703 Fax +41 (44) 261 5324 zurich@arsclassicacoins.com

3rd Floor Genavco House 17 Waterloo Place London SW1Y 4AR – UK Tel. +44 (20) 7839 7270 Fax +44 (20) 7925 2174 info@arsclassicacoins.com

Auktionsbedingungen Durch die Teilnahme an der Auktion werden die folgenden Bedingungen anerkannt: 1. Die Versteigerung erfolgt in Schweizerfranken. Der Zuschlag erfolgt nach dreimaligem Aufruf an den Höchstbietenden, dessen Gebot vom Auktionator anerkannt wurde und verpflichtet zur Annahme. Der Ausruf erfolgt in der Regel bei 80%, sofern nicht höhere Angebote vorliegen. Schriftliche Gebote haben Vorrang. Jeder Ersteigerer verpflichtet sich persönlich für die durch ihn getätigten Käufe. Er kann nicht geltend machen, für Rechnung Dritter gehandelt zu haben.

2. Telefonische oder schriftliche Bietaufträge (auch auf elektronischem Weg) von nichtanwesenden Interessenten werden bis 24 Stunden vor Auktionsbeginn entgegengenommen. Telefonische Bieter sind damit einverstanden, dass das Gespräch aufgezeichnet werden kann. Das Auktionshaus übernimmt keinerlei Haftung für schriftliche, elektronische und telefonische Bietaufträge.

3. Bieter werden gebeten, sich vor der Auktion zu legitimieren und anschliessend registrieren zu lassen. Das Auktionshaus kann eine Bankreferenz und/oder Sicherheiten verlangen. Es steht im Ermessen des Auktionshauses, eine Person nicht an der Auktion teilnehmen zu lassen.

4. Es steht dem Versteigerer nach seinem Ermessen frei, ein Gebot heraufzusetzen oder ohne Angabe von Gründen abzulehnen. Der Versteigerer behält sich ferner das Recht vor, Lose zu vereinigen, zu trennen, ausserhalb der Reihenfolge anzubieten oder wegzulassen bzw. von der Auktion zurückzuziehen.

5. Auf dem Zuschlagspreis ist ein Aufgeld von 20% zu entrichten - Telefonbieter und Internet Live Bieter entrichten ein zusätzliches Aufgeld von 1.5% auf den Zuschlagspreis. Die schweizerische Mehrwertsteuer von 8,0% wird auf den Endpreis (Zuschlagspreis plus Aufgeld und auf allen andern vom Auktionshaus dem Käufer in Rechnung gestellten Beträgen) erhoben. Goldmünzen (AV) sind von der MWST befreit.

Bei Ausfuhr des ersteigerten Objekts ins Ausland wird dem Käufer die MwSt zurückerstattet, wenn er eine rechtsgültige Ausfuhrdeklaration des schweizerischen Zolls beibringt.

6. Der Gesamtpreis wird mit dem erfolgtem Zuschlag zur Zahlung fällig und ist bei der Aushändigung des Objekts zu bezahlen, ausser es sei vor der Auktion eine andere Abmachung getroffen worden. Für verspätete Zahlungen wird ein Verzugszins von 1% pro Monat in Rechnung gestellt. Das Eigentum geht erst mit der vollständigen Bezahlung auf den Käufer über. In der Regel liefert NAC das ersteigerte Objekt nicht vor der Bezahlung an den Käufer aus. Eine allfällige frühere Auslieferung bewirkt keinen Eigentumsübergang und ändert nichts an der Zahlungsverpflichtung des Käufers.

Hat der Käufer nicht sofort und auch nicht innert fünf Tagen ab Erhalt einer eingeschriebenen schriftlichen Mahnung bezahlt, so ist NAC ohne weiteres und ohne weitere Anzeige berechtigt, vom Verkauf zurückzutreten.

7. Versand- und Versicherungskosten erfolgen auf Kosten und Risiko des Empfängers. Im Ausland verrechnete Gebühren und Steuern gehen zulasten des Käufers (Ersteigerers). Diesem obliegt es, sich über ausländische Zoll- und Devisenvorschriften zu informieren. Das Auktionshaus übernimmt keine Haftung für allfällige Zuwiderhandlungen gegen solche Vorschriften.

8. Das Auktionshaus garantiert vorbehaltlos und zeitlich unbeschränkt für die Echtheit der Münzen. Alle Angaben im Katalog sind nach bestem Wissen und Gewissen zusammengestellt.

9. Die zur Versteigerung gelangenden Objekte werden für Rechnung Dritter versteigert oder sind Eigentum des Auktionshauses. Der Käufer (Ersteigerer) hat keinen Anspruch auf Bekanntgabe des Einlieferers und ist damit einverstanden, dass das Auktionshaus auch von diesem eine Provision erhält.

10. Die vorstehenden Bedingungen sind Bestandteil eines jeden einzelnen an der Auktion geschlossenen Kaufvertrags.

Abänderungen sind nur schriftlich gültig. Sofern Teile dieser Auktionsbedingungen der geltenden Rechtslage nicht mehr oder nicht vollständig entsprechen sollten, bleiben die übrigen Teile in ihrem Inhalt und ihrer Gültigkeit unberührt.

Massgebend ist die deutsche Fassung dieser Auktionsbedingungen.

11. Das Vertragsverhältnis zwischen den Parteien untersteht in allen Teilen dem schweizerischen Recht. Erfüllungsort ist am Sitz des Auktionshauses in 8001 Zürich, und ausschliesslicher Gerichtsstand ist Zürich.

Conditions of Sale The following terms and conditions are accepted by all persons participating in the auction: 1. Auction bidding is conducted in Swiss Francs. The highest bidder who has been acknowledged by the auctioneer when the hammer falls after the third call has legally bought the lot. Bidding usually begins at 80% of the estimate, provided no higher offers have been submitted. Written bids have priority. The successful bidder has committed himself personally to the purchases made. He cannot claim to have acted on behalf of a third party.

2. Absentee bidders can bid up to 24 hours before the start of the auction by writing, telephone or electronically. Telephone bidders must agree that calls may be recorded. The auction house does not accept liability for bidding mandates made by telephone, electronically or in writing.

3. Bidders must show proof of identification before the auction, and subsequently be registered. The Auction House may require a bank reference and/or guarantee. The Auction House reserves the right to deny a person from participating in the auction.

4. The auctioneer may raise or reject a bid without giving a reason, and furthermore reserves the right to combine or split up catalogue lots, or to offer them out of sequence or omit or withdraw them from the auction.

5. A commission of 20% will be levied on the hammer price - phone bidders and bidders using our Live Internet facilities pay an additional charge of 1,5%. The Swiss value added tax (VAT) of 8,0% is payable on the final price (hammer price, plus buyer’s commission and any other amounts chargeable by the Auction House to the buyer). Gold coins (AV) are exempt from VAT. If the purchases are exported, then the VAT will be refunded on production of a legally valid original export declaration issued by the Swiss Customs.

6. Payment is in Swiss Francs and is immediately due upon adjudication of the lot and has to be paid with the release of the object to the Buyer, unless otherwise agreed before the sale. Late payments will incur a monthly default interest of 1%.

Title in a lot will not pass to the Buyer until NAC has received full payment on his account. NAC will generally not release a lot to a Buyer before payment. Earlier release of the lot does not affect its title nor the Buyer’s obligation to pay.

If the Buyer has failed to make immediate payment and within 5 days after receipt of a registered, written reminder by NAC to the buyer, NAC may in its sole discretion cancel the sale of the lot.

7. Shipping and insurance are at the buyer’s cost and risk. Any fees and charges payable abroad are borne by the buyer (successful bidder) who is responsible for acquiring the necessary information about any applicable customs and foreign exchange regulations. The Auction House accepts no liability for any contraventions of such regulations.

8. The Auction House offers an unconditional and unlimited guarantee for the authenticity of coins. All identifications and descriptions of the items sold in this catalogue are statements of opinion and were made in good faith.

9. The objects which come under the hammer are auctioned on behalf of a third party or are the property of the Auction House. The buyer (successful bidder) has no entitlement to have the identity of the consignor disclosed to them and acknowledges that the Auction House might receive a commission from the consignor for the sale.

10. The above conditions are a component of each individual contract of sale concluded at the auction. Alterations must be made in writing in order to be valid. If any parts of these Terms and Conditions should be no longer or not fully in conformity with the valid legal situation, this shall not affect the content and validity of the remaining parts. The abovementioned conditions are written in German, French, Italian and English; the only valid text is the German one.

11. The contractual relationship between parties is subject in all facets to Swiss law. Place of performance is the registered office of the Auction House in 8001 Zurich, and the exclusive court of jurisdiction is Zurich.

Conditions de la vente aux enchères Du fait de la participation à la vente aux enchères, les conditions suivantes sont réputées être acceptées : 1. Les enchères sont effectuées en Francs Suisses. L’adjudication est réalisée après trois appels consécutifs du plus offrant dont l’offre a été acceptée par le commissaire priseur et qui constitue une obligation. La mise à prix est effectuée en règle générale à 80 %, dans la mesure où il n’y a pas d’offres disponibles et plus élevées. Les offres formulées par écrit sont prioritaires. Chaque enchérisseur s’engage personnellement en ce qui concerne les acquisitions réalisées par ses soins. Il ne peut pas faire valoir le fait d’avoir agi pour le compte d’une tierce personne.

2. Les demandes d’enchères par téléphone ou par écrit (également par moyen électronique) pour les personnes intéressées et non présentes sont réceptionnées jusqu’à 24 heures avant le début de la vente aux enchères. Les enchérisseurs par téléphone acceptent que la communication téléphonique puisse être enregistrée. La salle des ventes n’assume aucune responsabilité quant aux enchères effectuées par téléphone, électronique ou par écrit.

3. Les enchérisseurs sont priés de se légitimer avant la vente aux enchères et de se faire enregistrer à l’issue de la vente. La salle des ventes peut exiger une référence bancaire et/ou une garantie. La salle des ventes a le droit de ne pas laisser une personne participer à la vente aux enchères.

4. L’enchérisseur peut, à sa guise, surenchérir une offre ou bien la décliner sans indication de motifs. L’enchérisseur se réserve en outre le droit d’associer des lots, de les séparer, de faire des offres en dehors de l’ordre prévu ou de les laisser de côté, voire de se retirer de la vente aux enchères.

5. Une commission de 20% est perçue sur le prix d'adjudication. Les acquéreurs qui souhaitent participer aux enchères par téléphone ou en ligne avec nos facilités Live Internet paieront un frais supplémentaire de 1,5%. La taxe à la valeur ajoutée suisse d’un montant de 8,0 % sera perçue sur le prix définitif (prix d’adjudication plus supplément et sur tous les autres montants facturés à l’acquéreur par la salle des ventes). Les pièces de monnaie en or (AV) sont dispensées de la TVA. En cas d’exportation de l’objet adjugé vers l’étranger, l’acquéreur se voit restituer la TVA lorsqu’il est en mesure de présenter une déclaration d’exportation réglementaire, en bonne et due forme, des autorités douanières suisses.

6. Le prix total en francs suisses est exigible immédiatement après adjudication et doit être acquitté lors de la remise de l'objet adjugé. Pour les paiements effectués ultérieurement un intérêt moratoire de 1% par mois sera facturé. La transmission de la propriété à l'acquéreur a lieu seulement à paiement intégral. En général, NAC ne remets l'objet adjugé à l'acquéreur pas avant paiement. Une éventuelle remise de l'objet n'a cependant pas de l'influence ni sur la propriété du vendeur ni sur l'obligation de l'acquéreur de payer.

En cas que l'acquéreur n'a pas payé simultanément et non plus entre les cinq jours après réception d'un avertissement sous pli recommandé, NAC est en droit de se départir du contrat sans autre formalité et sans avis ultérieur.

7. Les frais d’envoi et d’assurance sont à charge et au risque de l’acheteur. Les taxes ou les impôts facturés à l’étranger sont à la charge de l’acquéreur (enchérisseur). Il lui incombe de s’informer au sujet des directives étrangères en matière de douane et de devises. La salle des ventes décline toute responsabilité pour les éventuelles infractions à l’encontre de ces directives.

8. La salle des ventes garantit l’authenticité des monnaies sans réserve et sans limitation dans le temps. Toutes les indications mentionnées dans le catalogue sont rassemblées en toute conscience et en toute bonne foi.

9. Les objets mis aux enchères le sont pour le compte de tierces personnes ou bien sont la propriété de la salle des ventes.

L’acquéreur (enchérisseur) n’a aucun droit d’obtenir communication du nom de la personne qui met en vente et se déclare en accord avec le fait que la salle des ventes perçoive une provision de cette dernière.

10. Les présentes conditions font partie intégrante de tout contrat de vente conclu dans le cadre de la vente aux enchères. Les modifications ne sont valables que par écrit. Le fait que des parties des présentes conditions de vente aux enchères venaient à ne plus correspondre, ou du moins plus intégralement, à la situation juridique en vigueur, n’affecte en rien les autres parties, ni dans leur contenu, ni dans leur validité. La version en langue allemande constitue la référence des présentes conditions de vente aux enchères.

11. La relation contractuelle entre les parties en cause est soumise, dans toutes ses composantes, au droit Suisse. La compétence juridique est fixée au siège de la salle des ventes à 8001 Zurich, et le for juridique exclusif est Zurich.

Condizioni di vendita La partecipazione all’asta comporta l’accettazione delle seguenti condizioni: 1. La valuta in cui viene condotta l’asta è il Franco Svizzero. L’aggiudicazione al miglior offerente, individuato dal banditore, avviene dopo la terza chiamata e comporta per l’aggiudicatario l’acquisto con tutti i relativi obblighi di legge.

Le offerte partono generalmente dall’ 80% del prezzo di stima a meno che una o più offerte d’importo maggiore siano state presentate. Le offerte scritte hanno la precedenza. Il partecipante all’asta è personalmente responsabile per l’acquisto effettuato e non può pretendere di avere agito per conto di terzi.

2. I partecipanti all’asta non presenti in sala possono presentare offerte telefonicamente, in forma scritta, o per via elettronica fino a 24 ore prima dell’inizio dell’asta. Chi trasmette la propria offerta telefonicamente presta il proprio consenso all’eventuale registrazione della telefonata. La casa d’asta non assume alcun tipo di responsabilità per le offerte trasmesse in forma scritta, elettronica o telefonica.

3. I partecipanti, per concorrere all’asta, dovranno esibire un documento d’identità e registrarsi. La casa d’asta si riserva il diritto di richiedere referenze bancarie o un deposito cauzionale per permettere la partecipazione all’asta. La casa d’asta si riserva inoltre il diritto di non permettere a un soggetto la partecipazione all’asta.

4. Il banditore d’asta ha facoltà di aumentare o rifiutare un’offerta secondo la propria discrezionalità e senza necessità di fornire una motivazione. Il banditore si riserva inoltre il diritto di unire, separare, cambiare la sequenza prevista o di eliminare e/o ritirare dall’asta determinati lotti.

5. Al prezzo d’aggiudicazione va aggiunta una commissione del 20%. Gli offerenti che parteciperanno all’asta per telefono o ‘live’ attraverso internet pagheranno un costo supplementare dell’1,5%. L’imposta svizzera sul valore aggiunto, pari attualmente al 8,0%, viene applicata sul prezzo finale (prezzo d’aggiudicazione più commissione ed ogni altro importo imputabile al compratore dalla casa d’aste). Le monete in oro (AV) sono esonerate dal pagamento dell’IVA. In caso d’esportazione dell’oggetto acquistato all’asta verso un paese estero, il compratore ha diritto al rimborso dell’IVA dietro consegna di una valida dichiarazione d’esportazione dell’ufficio doganale della Confederazione Elvetica.

6. Il pagamento è da effettuarsi in Franchi Svizzeri immediatamente all’aggiudicazione del lotto, a meno che concordato diversamente prima dell’asta. In caso di ritardato pagamento il tasso d’interesse moratorio applicabile è pari all’1% mensile. La proprietà del lotto non passerà al compratore fino a che la NAC non riceverà il pagamento a saldo dell’acquisto. Generalmente la NAC non rilascia un lotto al compratore prima di ricevere il pagamento di tale. La consegna anticipata di un lotto non incide sulla proprietà di tale ne’ sull’obbligo di pagamento da parte del compratore.

Se il compratore no paga subito e nel caso in cui egli non effettui il pagamento entro 5 giorni dalla ricezione di una raccomandata, scritta da NAC come avviso di mancato pagamento, la NAC si riserverà la facoltà di cancellare la vendita di tale lotto.

7. I costi ed il rischio della spedizione sono a carico del destinatario. Qualunque imposta e contributo legalmente dovuto nel paese d’esportazione è a carico dell’acquirente (compratore in sede d’asta) su cui ricade la responsabilità per la conoscenza delle norme vigenti in materia doganale e di valuta. La casa d’aste non assume alcuna responsabilità per l’eventuale violazione di tali prescrizioni.

8. La casa d’asta offre una garanzia incondizionata e senza riserva di tempo sull’autenticità delle monete. Le indicazioni e descrizioni contenute nel catalogo sono opinioni soggettive e sono espresse in buona fede.

9. Gli oggetti offerti vengono messi all’asta per conto di terzi o sono di proprietà della casa d’asta. L’acquirente (compratore in sede d’asta) non ha il diritto di conoscere l’identità del consegnatario dell’oggetto e prende atto che alla casa d’asta potrebbe venir corrisposta dal consegnatario una commissione per la vendita.

10. Le condizioni sopra menzionate costituiscono parte integrante di ciascun contratto individuale di vendita concluso nell’asta. Eventuali modifiche saranno ritenute valide solo se fatte in forma scritta. Nel caso in cui una parte delle presenti Condizioni di Vendita dovesse essere non più totalmente conforme alla vigenti disposizioni di legge, cioè non avrà effetto sulla validità delle parti restanti. L’unica versione di testo delle Condizioni di Vendita che ha valore legale è quella in lingua tedesca.

11. Il rapporto contrattuale fra le parti è regolato in tutti i suoi aspetti dal diritto della Confederazione Elvetica. Il luogo d’adempimento è la sede della casa d’aste a Zurigo (8001). Il foro competente è esclusivamente quello di Zurigo.

New German Cultural Property Protection Act Numismatica Ars Classica NAC AG upon request of German buyers will be glad to provide for the coins of Italian origins an export license issued by the Republic of Italy.

The law does not apply to any coins that left the country of origin before 31. 12. 1992 in case of a EU member state, or before 26.4.2007 in case of a UNESCO signatory state US IMPORT RESTRICTIONS ON COINS OF ITALIAN AND GREEK TYPE None of the coins offered in this sale are subject to any kind of US import restrictions, since we are in possession of the necessary documentation for importation into the United States.

Nevertheless, Numismatica Ars Classica NAC AG endeavours to provide its American clients with the best service possible and we will therefore take it upon ourselves whenever possible to carry out all of the customs formalities for importation into the USA and will then ship the lots to each individual client from within the United States.

TIME TABLE

ZEITTAFEL

ORDRE DE VENTE

Monday, 12 December 2016

13:00 – 16:00

ORDINE DI VENDITA

1 – 348

EXHIBITIONS AUSSTELLUNG EXPOSITION ESPOSIZIONI

London – At our premises 7 – 30 November 2016 Monday to Friday 9:30 – 17:30 Saturday & Sunday by appointment only

Zurich At the Zurich premises (2nd Floor):

Friday, 9 December 2016

09:30 – 17:30

At the Hotel Baur au Lac, Talstrasse 1, 8001 Zurich:

Sunday, 11 December 2016 Monday, 12 December 2016

09:30 – 18:00 09:00 – 13:00

Please visit our auction online at www.arsclassicacoins.com

Die Auktion erfolgt unter Mitw irkung eines Bea mten des Stadtammannamtes Zürich 1. J ede Ha ftung des anw esenden Beamten, der Gemeinde und des Staates für Handlungen des Auktiona to rs entfällt.

Gradi di conservazione Grades of preservation

Erhaltungsgrad

Degrés de conservation Grados de Conservación

Fdc Fior di conio Spl Splendido BB Bellissimo MB Molto bello

Stempelglanz Vorzüglich Sehr schön Schön

Fleur de coin (FDC) Superbe Très beau Beau

Fdc Uncirculated Extremely fine Very fine Fine

FDC EBC MBC BC

Foreword For Numismatica Ars Classica it is a great honour to present the Roman component of the America Collection.

Despite how extraordinary the Greek section of this collection was, especially when taking into account the short time it took to build, the Roman part is by far superior.

The talent that our anonymous collector has demonstrated in selecting the coins in this part of the collection is truly amazing and show a very keen and sensitive eye.

In particular, the state of preservation of the aurei is incredible and perhaps in the modern history of numismatics only the legendary Collection of the Perfectionist, which of course contained more rarities, can be comparable for the condition of the coins offered to the one put together by our anonymous collector.

For the bronze and silver, our collector has also shown the same sensitivity with a choice of coins absolutely impeccable. In particular, for the silver, he gave great importance to the freshness of the metal and to the fascinating old tones that more than anything else enhanced the beauty of these coins. Equally for the bronze, he rightly decided to give priorities to specimens with wonderful patinas purchasing coins of enchanting beauty.

It was very difficult to make a choice of coins to be presented in our preface, as all the coins in this catalogue for one reason or another would have deserved a mention. However, for obvious reasons of space, we have limited ourselves to the most important ones. We start with a beautiful aureus struck by Octavian to celebrate his legacy with his adoptive father Julius Caesar (lot 39), which combines an exceptional quality for this type with a superb provenance. In the Imperatorial period we must mention two extraordinary coins issued by Cassius: an aureus (lot 46) and a denarius (lot 48), which are probably the finest specimens known of these issues. We must also mention an exceptional denarius struck by Brutus (lot 50), again the finest specimen known. To conclude our array of coinage from this troubled period of Roman history, we cannot refrain from mentioning the magnificent denarius of Labienus (lot 56), which we have chosen to illustrate the front cover of this catalogue. This coin, despite being technically inferior in quality compared to a couple other coins of this type that we have seen in our careers, is in our opinion the best, for the exceptional quality of its metal and its beautiful patina.

The selection of coins from the first century is truly impressive, and amongst the many important specimens we would like to mention an excellent denarius of Nero Claudius Drusus (lot 67), and an absolutely perfect aureus of Claudius (lot 78) that is without a doubt the best preserved one of this Emperor that we have had a chance to admire throughout our careers.

Absolutely sensational is also a denarius of Nero (lot 88), as well as the best specimen Nero’s Adlocutio sestertius in private hands (lot 91). From the period of the Civil Wars, we must point out a wonderful aureus of Galba from the Boscoreale hoard (lot 93) and a superb aureus of Otho (lot 97) coming from the legendary HSA collection.

Among the numerous highlights of the second century we would like to bring attention to a magnificent sestertius of Trajan with the Circus Maximus on the reverse (lot 111) and to one of the best coins of the whole sale: the extraordinary aureus of Plotina (lot 116), undoubtedly the finest known specimen of this extremely difficult issue. Impressive are also the two coins that follow it in the catalogue: a sestertius of Plotina (lot 117) with a marvellous light green patina and a superb denarius of Marciana (lot 118). The selection of aurei of Hadrian is impressive, starting with an important and exceptionally well-preserved aureus showing the bust of Hadrian on the obverse and Trajan on the reverse (lot 119). The selection continues

with a very rare aureus with an unusual left facing bust hailing from the Mazzini collection (lot 120) and a third aureus with the emperor on horseback, in an outstanding state of preservation (lot 121).

The aurei of Antoninus Pius (lots 133, 135-141) are sensational both for the quality and beauty of their portraits. In a state of incredible, almost perfect, preservation are the aurei of Marcus Aurelius (lots 147,148, 149 and 151) and those of Lucius Verus (lots 157-160).

Commodus is also superbly represented with an aureus of exceptional quality (lot 168), and with one of the most beautiful coins of the whole sale: a sensational bimetallic medallion combining a portrait of exceptional artistic quality with a fascinating reverse (lot 169).

Noteworthy is also a sestertius of Commodus (lot 171), which combines a beautiful and interesting reverse with a wonderful green patina. Magnificent and, once again, of impeccable quality are an aureus of Crispina (lot 172) and one of Pertinax (lot 173).

The selection of coins from the third century contains a beautiful and exceedingly rare aureus of Septimius Severus from Eastern mint with a legionary reverse (lot 179) and continues with two other interesting aurei of this Emperor exceptionally well preserved (lots 180-181). For Macrinus we have a wonderful sestertius with a portrait of exceptional beauty (lot 190). The end of the third century is enhanced by a series of truly stunning aurei, starting with a beautiful aureus of Probus (lot 227), followed by a wonderful aureus of Carinus (lot 138) and one of Magnia Urbica (lot 139).

The tetrarchy again boasts an exceptional series of aurei, which we are forced to repeat are of superb quality. These include, among the others, a fantastic aureus of Diocletian with the consular bust (lot 233) and an aureus of Galerius with a portrait of magnificent style (lot 237).

In conclusion, we would also like to draw attention to a fantastic silver medallion of Constans in exceptional state of preservation, which combines a very interesting and impressive portrait and a masterly engraved reverse.

The last part of the catalogue is dedicated to some coins of lesser value or duplicates, which our collector purchased throughout the years. Even though the coins are still beautiful, due to the layout used for this sale, we have decided to offer them in a separate part of the catalogue.

The selection offers several interesting coins, which we are sure will attract the interest of the collectors.

The combination of the Greek and Roman components of the America Collection represents one of the most important selection of ancient coins to have been offered for public sale in the last thirty years and we are confident that these two catalogues will become an important reference and inspiration for those in the future wishing to embark in the ambitious task of building a collection which embrace both Greek and Roman coinage.

We cannot end this preface without thanking our anonymous collector for having decided to entrust to NAC the dispersal of his collection. His decision makes us particularly proud, not only for the prestige of selling such an important collection, but also because the decision was made by such a passionate and knowledgeable collector.

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Note

Long before the introduction of the denarius, the Romans had issued silver didrachms on an occasional basis starting in 326/5 B.C. The designs of these didrachms were ever-changing, and it appears as though the circumstance for each new issue was episodic. The final didrachm issue, best known as a quadrigatus, was by far the largest and most complex of these early Roman silver coinages.

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Unlike the miserly didrachm issues of earlier times, the quadrigatus was Rome’s first massive issue of coined silver. It was produced in very large quantities at several mints over a period of perhaps thirteen years starting in about 225 B.C. Quadrigati initially may have been struck in modest quantities – following the model of earlier didrachm types – and that production began to occur on a large scale only after the Romans had declared war on Carthage in the spring of 218. Though the precise chronology of Roman coinage in the Second Punic War is not known, sometime between c.214 and 212 the denarius replaced the quadrigatus, a shift in Roman monetary policy that proved decisive.

The designs of the quadrigatus coinage are of some interest. The obverse depicts a Janiform male head adorned with a laurel wreath. Though often described as the god Janus, the youthful, clean-shaven appearance has led many to conclude that it is the Dioscuri portrayed in an unusual manner. A youthful presentation of Janus, however, is not out of the question: on earlier Roman didrachms the god Mars is portrayed both as a mature man with a full beard (Cr. 13/1) and as a clean-shaven youth (Cr. 25/1 and 27/1), and a parallel may be drawn to the similarly diverse portrayals of Heracles on Greek coins.

The reverse bears the inscription ROMA beneath an energetic quadriga scene, from which this coinage derives its familiar name, quadrigati nummi, as cited by Livy (xxii.52.2 and xxii.58.4) in the history of Rome that he composed some two centuries afterward. The chariot, driven by Nike, bears the figure of Jupiter, who wields a sceptre and raises a thunderbolt as if ready to deliver a punishing blow.

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