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Wednesday, March 19, 2014

Spring Auctions: Caveat Emptor

246   |   Estimate: 15'000 EUR   |   Starting price: 12'000 EUR
Macédoine - Philippe II - Statère (359-336 av. J.-C.)
A/ Tête d'Apollon à droite.
R/ ΦΙΛΙΠΠΟY. Bige à droite.
RR FDC. GC.6663
Au ; 8.63 gr ; 18 mm
Collection LIM. Monnaie d'une qualité remarquable. Vente Maison Palombo 8 lot 5.

Starting Price: 12000 EUR
Estimate: 15000 EUR

Here's a perfect example of why slabbed coins  are becoming so important to the ancients market.  The above coin on sale this month in a major French auction, is fake.  Someone may pay the estimate which all in will cost him or her about $26,000.  That's reasonable for this coin in this condition - were it real.  That's a lot of money to pay for a fake coin.  Especially when the coin has a provenance - from another major French auction house.  It may well be that both auction houses consider this to be real.  It's a good fake - if it's a fake.  Yet, I'm pretty sure it is.

Now I haven't seen it in person.  Maybe I'm wrong.  But there are many fakes of this issue, and this one just looks wrong.  If you can't tell why, it might be better for you to bid on slabbed coins. 

1 comment:

  1. OK, is this fake too? Roma Numismatics
    Spectacular Alexander Portrait Issue

    Lot 389: Kingdom of Macedon. Philip II AV Stater. Struck under Philip III. Kolophon, circ...
    Estimate: £7,500.00
    Current Bid: £6,000.00