A99

AUCTION 99 29 May 2017

The George W. La Borde Collection of Roman Aurei – part II Sold in association with Stack’s Bowers Galleries

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

NUMISMATICA ARS CLASSICA NAC AG www.arsclassicacoins.com

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

Suite 1, Claridge House 32 Davies Street London W1K 4ND – UK Tel. +44 (0) 20 7839 7270 Fax +44 (0) 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 20.0% 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 20.0% 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.

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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 20.0% 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.

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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 20.0%. 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.

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.

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TIME TABLE

ZEITTAFEL

ORDRE DE VENTE

Monday, 29 May 2017

13:15 – 14:00

ORDINE DI VENDITA

1 – 50

EXHIBITIONS AUSSTELLUNG EXPOSITION ESPOSIZIONI

London – At our premises 20 April – 12 May 2017 Monday to Friday 9:30 – 17:30 Saturday & Sunday by appointment only

Zurich At the Zurich premises (2nd Floor):

Thursday, 25 May 2017 Friday, 26 May 2017 Saturday, 27 May 2017

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

Sunday, 28 May 2017 Monday 29 May 2017

09:30 – 17:30 09:30 – 17:30 By appointment 11:30 – 18:00 09:00 – 11:30

Please visit our auction online at www.arsclassicacoins.com

D ie A u k tion erfolgt u n ter M itw irk u n g ein es B eam ten d es Stad tam m an n am tes Z ü rich 1. Jed e H aftu n g d es an w esen d en B eam ten , d er G em einde und des Staates für H andlungen des A uktionators 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

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FDC EBC MBC BC

Numismatica Ars Classica NAC AG is honoured to present the second part of the George W. La Borde Collection of Roman Aurei following the resounding success of part I. Although small in terms of lots offered (only fifty), this auction is absolutely remarkable both for the overall quality of the coins and the presence of pieces which rarely appear on the market. Most of the coins boast prestigious provenances, an increasingly coveted asset in the current market.

The auction opens with two extremely interesting and important coins from the period of the Roman Republic. The first is an aureus of Sextus Pompey, depicting the great general on the obverse, and his deceased father and brother (Gnaeus Pompeius Magnus and Gnaeus Pompeius Junior) on the reverse. This aureus ranks first in a series of so-called “dynastic” issues that went on to be emulated repeatedly throughout the entire history of the Roman Empire. The second coin is one of the very few and best conserved, legionary aurei issued by Mark Antony in preparation for his war with Octavian and Agrippa.

The first century section of the sale presents, among other coins, a wonderful aureus of Antonia (lot 3), undoubtedly one of the best examples in private hands, along with a superb aureus of Galba (lot 5), which is in an exceptional state of conservation and boasts a very prestigious pedigree.

The second century section features a series of beautifully preserved aurei, including a delightful aureus of Lucius Verus (lot 15), an extraordinary aureus of Lucilla (lot 16) and an aureus of Crispina (lot 19), which boasts not only a beautifully-executed portrait, but is also in an absolutely impeccable state of preservation.

The series of aurei representing the third century is absolutely extraordinary. In the first half one will find: an aureus of Julia Domna (lot 22) sporting an unusually beautiful portrait and a reverse which is apparently unpublished in gold; two breath-taking and extremely interesting aurei of Caracalla (lots 23 and 24); and a superb aureus of Elagabalus, formerly belonging to the Caruso Collection, which was issued to commemorate the transportation of the stone of Emesa to Rome. The second half of the third century begins with an extremely rare aureus of Uranius Antoninus struck at Emesa (lot 29), and continues with a beautiful aureus of Tetricus with a portrait of superb style (lot 33). It closes with an exceedingly rare and important aureus of Carausius (lot 44)-the most important coin of the entire auction.

The fourth century section starts with a wonderful aureus of Constantius Chlorus (lot 45) which comes from the fabled Arras hoard, closely followed by an unusually well-preserved aureus of Maxentius (lot 47), and closes with a very beautiful aureus of Constantine I struck at the mint of Thessalonica (lot 50).

As with part I, this second catalogue is complemented by updated biographies bibliography compiled by an updated

by Hadrien Rambach detailing the collectors to whom many of these coins once belonged, and the auction houses that were involved the coins’ sale. It contains interesting notes on the lives of the collectors and the circumstances that inspired them to collect coins. In some cases, we have preferred not to reveal the name of the collector, even when it was known to us; for example, when a collector went by a pseudonym or chose to sell their collection anonymously. Coin collecting is probably the most intimate and private form of collecting; unlike many other art forms, which can be shown off and, to some extent shared with others, coins are a pleasure that the collector keeps to himself.

I maintain that it is our duty as professionals to preserve the privacy of those who have decided to remain anonymous; not for practical of opportunistic reasons, but because we 6

firmly believe that a collector’s wish to remain private should be respected. Whilst the life of collectors is indeed interesting and adds a “flavour” to their coins, in the end it is always the coins that speak for the collector and not vice versa. In the history of numismatics, there have been collectors with almost unlimited financial means who have put together poor collections, perhaps because they did not have the time or the knowledge. Other collectors, with much less money, who have dedicated their entire lives to collecting have managed, thanks to their passion and commitment, to achieve absolutely incredible results within a limited budget.

Obviously, this does not mean that money is not important when one embarks on assembling a collection, but money alone, without commitment, research, passion and sensitivity, is simply not enough.

It is thanks to that passion, sensitivity and commitment which George has shown in his years of collecting, as well as to Hadrien’s guidance, that has allowed him to assemble this wonderful collection. We hope that collectors will enjoy this catalogue as much as part I, and that they will take pleasure in seeing George’s achievement.

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