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CNG e-sale wins! Share ‘em!


TheTrachyEnjoyer
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Two wins for me!

1327005361_cngimage.jpg.6aa61af7cf98e78166da62b1da910888.jpg

C. Piso L.f. Frugi. 61 BC. AR Denarius (18mm, 3.93 g, 6h). Rome mint. Head of Apollo right, hair bound with taenia; dolphin swimming downward to left / Rider, holding palm frond, on horse galloping right; uncertain control off flan. Crawford 408/1a; cf. Hersh, Piso 201-2 (O221/R2036-7); Sydenham 851h; Calpurnia 24; RBW1008845479_cngimage.jpg.19ecc658765c2320e8b762c26794d278.jpg

Diva Faustina Senior. Died AD 140/1. AR Denarius (18mm, 3.14 g, 6h). Rome mint. Struck under Antoninus Pius, circa AD 141-146. Draped bust right, wearing hair bound in pearls on top of her head / Pietas standing left, dropping incense on lighted and garlanded altar to left and holding acerrum (incense box). RIC III 394a (Pius); RSC 234. 

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Originally I wasn't going to participate in today's auction, but in a last look I found this stater from Elis, for the 111th Olympiad in 336 BCE. This was when Philip II was assassinated and Alexander III became king, so it's of course an extremely important date for my collection. Granted, the condition is rough, but I couldn't find any other copies that were nearly this affordable - including some that sold for far more in similar condition.

elis.jpg.785197b044983d2f012300e932f647f6.jpg

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Congratulations! I had several lots on my watch list but ended up not bidding on anything. I wanted to save my available funds for bidding on two Roman Republican coins in today's Roma Numismatics auction. I was fortunate to be the winning bidder on both, and will post them after they arrive. I also won several Napoleonic-era medals in yesterday's Noonans auction.

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3 hours ago, DonnaML said:

Congratulations! I had several lots on my watch list but ended up not bidding on anything. I wanted to save my available funds for bidding on two Roman Republican coins in today's Roma Numismatics auction. I was fortunate to be the winning bidder on both, and will post them after they arrive. I also won several Napoleonic-era medals in yesterday's Noonans auction.

I was watching the Noonan's auction for ancients and like a bidiot I stepped away for a moment when the lot I was interested in came up for bid and I missed out.

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Posted (edited)

I was able to secure a Syracusan tetradrachm, in E-Auction 518,, one, for many years, that I've been seeking.  The tetradrachms of the Second Democracy have some of the most beautiful dies created by the artisans of the mint, and some of the most atrocious strikes and quality issues (badly worn/rusted dies, flan flaws, off-center strikes, etc.) in the series, hands down.  So, I was pleased to add this mid-grade tet to the collection, completing the main hair styles for this period.

Here's the auction picture, which is quite pixelated.  Once the coin arrives I take more snaps of it.

The coin does have some flan flaws, as is very typical of this type and period, but overall it is very pleasing.

990262555_SyracusetetradrachmSecondDemocracyCNGphoto6-16-22.jpg.4f412399e74bf6ff1bd28967578a829e.jpg

Edited by robinjojo
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Posted · Supporter

I put bids on a few, but lost. I bid on a decent Lysimachos drachm (with the deified Alexander) but it went for higher than what I wanted to pay.

There was a nice Divus Augustus I was hoping to get, but it also went higher than what I wanted. Actually there were two Divus Augustus asses but I lost both.

I think that was it. I would have probably bid higher if I hadn't just placed an order from another dealer. 🙄😉

I did win one item, a book: Coinage in the Roman Economy, 300 BC to AD 700, by Kenneth W Harl. Should be interesting!

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14 hours ago, Roman Collector said:

This one?

No, lot 491, which sold for $180 or $216.  Still not insane, but I think a $150 coin.  If a sestertius I might have paid around $500.

1.jpeg

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Posted · Administrator

My win is supposed to be arriving by post tomorrow! Fingers crossed... Don't want to jinx it too much so I'll hold off on posting the photo (we all have our superstitions right? haha) but I'll say it'll be my first ever coin with a triumphal quadriga on it. It's been tough as I find myself holding off on bidding in a lot of recent auctions as I'm saving up for the Leu auction this month. SO many good coins in that one, it's kinda nuts 🤯

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Posted (edited)

The Syracusan tetradrachm, Second Democracy, arrived today.  This is a nice example for a beautiful yet problematic issue.

I posted an earlier photo of this coin, the CNG image.  Here is what I think is a somewhat better one, taken the other day.

Syracuse, AR tetradrachm, Second Democracy, 466-405 BC.

16.92 grams

CNG e-Auction 518, lot 31.

VF, with some edge flaws, typical for this type.

This photo has the reverse and obverse switched.

923967134_D-CameraSyracuseTetradrachmSecondDemocracy466-05BC16.92gCNGeAuct51831VF6-25-22.jpg.9f39bfe96b80e9d041b2fe083fcef22e.jpg

Edited by robinjojo
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very nice coin robinjojo ! i really like this type too.

If i may, you have inverted the obverse and reverse but i see that CNG made the same mistake...

Here is mine with the same edge flaws and a worst centering than yours on the obverse.

1550099794_Syrac5bisbigB676.jpg.94b843a16bfcf961a972fbdd7dc8f7bc.jpg

 

 

 

 

Edited by Brennos
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Posted (edited)

Thanks,  That's a really nice tetradrachm! 

This is a tough issue to find without some production-related issue. The dies are first class, but they were used to beyond their life expectancy, and they rusted seriously, no doubt due to the extremely humid Mediterranean climate.  Also, the flan preparation was poor, generally speaking.  Then, there are often issues with the strike, especially regarding centering.  I can easily see how really high grade, attractive examples command the prices that they do.

I know that I inverted the obverse with the reverse.  I did the same with my photos of my Agathocles tetradrachm and other Syracusan tetradrachm. 

Edited by robinjojo
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Posted · Administrator

Nothing too extra-ordinary but I liked the toning on the Faustina denarius and don't have this Aeternitas version, and then was attracted to the Septimius one as I don't have any of his coins yet, and given I'm Restitutor I was attracted to this coins Restitutor Orbis reverse! I actually hadn't known until today that anyone prior to Aurelian had received that title. 

Diva Faustina Senior. Died AD 140/1. AR Denarius (18mm, 3.12 g, 6h). Rome mint. Struck under Antoninus Pius, AD 146-161. Draped bust right, wearing pearls bound on top of her head / Aeternitas (or Providentia) standing left, holding globe and billowing veil. RIC III 351 (Pius); RSC 32.

image.png.67e285d45598745dd24752badd1e2ec0.png

Septimius Severus. AD 193-211. AR Denarius (18mm, 3.06 g, 12h). Rome mint. Struck under Septimius Severus and Caracalla, AD 200-201. Laureate head right / RESTITVTOR VRBIS, Septimius Severus standing left, sacrificing out of patera over lighted tripod and holding reversed spear. RIC IV 167a; RSC 599.

image.png.46632bbbdad9e725cd9ef0350ba3b43c.png

 

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Posted · Administrator

Speaking of auctions... if anyone is interested, it looks like the EID MAR necklace over at HJB is "on sale" for only $71,500 now! If only those last two pesky zeroes would go away, maybe I'd be able to wear it regularly around town... 😇

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Nice pickups @Restitutor both solid portraits and reverses, I especially like the reverse of the Faustina.

I had two potential targets in CNG, but both were already too high in the pre-bidding.

Leu, however, is a different story. I won 5/6 coins that I bid on: a personal record, especially considering that I’ve only ever won a single coin from Leu. 

Did anyone else have success with Leu? I felt that prices were moderate with a few notable exceptions. 

Edited by Romancollector
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3 hours ago, Romancollector said:

Nice pickups @Restitutor both solid portraits and reverses, I especially like the reverse of the Faustina.

I had two potential targets in CNG, but both were already too high in the pre-bidding.

Leu, however, is a different story. I won 5/6 coins that I bid on: a personal record, especially considering that I’ve only ever won a single coin from Leu. 

Did anyone else have success with Leu? I felt that prices were moderate with a few notable exceptions. 

I bid on seven coins at Leu, and won six -- one Hadrian Provincial, four Gallienus antoniani, and a Jovian siliqua. I can't speak to previous experience, because I had never bid with Leu before.

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5 hours ago, Romancollector said:

Nice pickups @Restitutor both solid portraits and reverses, I especially like the reverse of the Faustina.

I had two potential targets in CNG, but both were already too high in the pre-bidding.

Leu, however, is a different story. I won 5/6 coins that I bid on: a personal record, especially considering that I’ve only ever won a single coin from Leu. 

Did anyone else have success with Leu? I felt that prices were moderate with a few notable exceptions. 

I was actually thinking the exact same thing RC, so now I'm curious enough to do a little work! Threw together some graphs real quick....

This chart compares total hammer price (in millions CHF) in the columns (dark blue is the starting price, light blue is the increase from start). The line chart shows the percent increase from start price to hammer price.
So, no major surprise here, I think we've all anecdotally felt that the hammer price continues to get higher and higher compared to estimate, but it is nice to see it proven out. What is interesting though is the decline from the peak Web Auction 19 that the latest 2 auctions show, with Auction 21 hitting a low not seen since Auction 11 (if we're being generous we could say Auction 14 from a materiality perspective). Web Auction 14 took place in Dec 2020, Web Auction 11 Feb 2020. 

image.png.9dc1f7944a60fd55d17375eb3d974797.png

This chart compares total number of bids per auction (in thousands) in the columns. The line chart takes the aggregate hammer price divided by the aggregate amount of bids.
What I found interesting here is that while the total number of bids has increased dramatically in recent auctions, the average bid hasn't increased nearly as much. This chart bears fruit again around our anecdotal experience with the recent auction 21 especially. 

image.png.12d181a072e8e472815d386ce197c5ec.png

Finally, this chart shows the total number of lots in the columns, and then the average price per lot in the line graph.
It's interesting looking at this trend of coins going from ~low $300s to mid $300s and then skyrocketing up into the mid and upper $400s. I will need to look at Web Auction 16 to see why in all 3 graphs it really stands out as an anomaly. But again here the recent Web Auction 21 was not great from the trend (for Leu, at least), with the average price dropping to a level not seen since, well, ever! Which at least to me was surprising as I thought the lots in Web Auction 21 were some of the nicest I had seen in a while. I'm inclined to think my interests just don't match with the average Leu customer as if there was a softening of the market occurring you would think it would be evident in Auction 20, since it occurred in the days immediately prior to 21. Which may explain why I was personally able to snag up 9 lots, the most I've ever won in any auction before. So, yay!

image.png.a14320e11d8ab516e80d34cf94b3ede3.png

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18 minutes ago, Restitutor said:

I was actually thinking the exact same thing RC, so now I'm curious enough to do a little work! Threw together some graphs real quick....

This chart compares total hammer price (in millions CHF) in the columns (dark blue is the starting price, light blue is the increase from start). The line chart shows the percent increase from start price to hammer price.
So, no major surprise here, I think we've all anecdotally felt that the hammer price continues to get higher and higher compared to estimate, but it is nice to see it proven out. What is interesting though is the decline from the peak Web Auction 19 that the latest 2 auctions show, with Auction 21 hitting a low not seen since Auction 11 (if we're being generous we could say Auction 14 from a materially perspective). Web Auction 14 took place in Dec 2020, Web Auction 11 Feb 2020. 

image.png.9dc1f7944a60fd55d17375eb3d974797.png

This chart compares total number of bids per auction (in thousands) in the columns. The line chart takes the aggregate hammer price divided by the aggregate amount of bids.
What I found interesting here is that while the total number of bids has increased dramatically in recent auctions, the average bid hasn't increased nearly as much. This chart bears fruit again around our anecdotal experience with the recent auction 21 especially. 

image.png.8e4730c12f2f70e2c3381e549d1b4987.png

Finally, this chart shows the total number of lots in the columns, and then the average price per lot in the line graph.
It's interesting looking at this trend of coins going from ~low $300s to mid $300s and then skyrocketing up into the mid and upper $400s. I will need to look at Web Auction 16 to see why in all 3 graphs it really stands out as an anomaly. But again here the recent Web Auction 21 was not great from the trend (for Leu, at least), with the average price dropping to a level not seen since, well, ever! Which at least to me was surprising as I thought the lots in Web Auction 21 were some of the nicest I had seen in a while. I'm inclined to think my interests just don't match with the average Leu customer as if there was a softening of the market occurring you would think it would be evident in Auction 20, since it occurred in the days immediately prior to 21. Which may explain why I was personally able to snag up 9 lots, the most I've ever won in any auction before. So, yay!

image.png.5bc735a64bb9667bcb258b6b2103ba11.png

Wow....that is thorough and indeed confirms what I suspected! 

You could very well be right about the desirability of the lots, but I don't think that is necessarily true for every piece. I suspect that the significant delay and auction fatigue (due to its length) could also have contributed. I won a denarius of Septimius, an antoninianus of Philip, an antoninianus of Carus, a follis of Constantine I and a follis of Crispus. Perhaps these are not considered as desirable as 1st or 2nd-century material, but they are still EF coins which usually carry a premium. I certainly paid less for each than other examples of the same grade at different venues. 

Here I was thinking that I was successful with 5 coins and you won 9 🤣

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2 hours ago, Restitutor said:

I was actually thinking the exact same thing RC, so now I'm curious enough to do a little work! Threw together some graphs real quick....

This chart compares total hammer price (in millions CHF) in the columns (dark blue is the starting price, light blue is the increase from start). The line chart shows the percent increase from start price to hammer price.
So, no major surprise here, I think we've all anecdotally felt that the hammer price continues to get higher and higher compared to estimate, but it is nice to see it proven out. What is interesting though is the decline from the peak Web Auction 19 that the latest 2 auctions show, with Auction 21 hitting a low not seen since Auction 11 (if we're being generous we could say Auction 14 from a materiality perspective). Web Auction 14 took place in Dec 2020, Web Auction 11 Feb 2020. 

image.png.9dc1f7944a60fd55d17375eb3d974797.png

This chart compares total number of bids per auction (in thousands) in the columns. The line chart takes the aggregate hammer price divided by the aggregate amount of bids.
What I found interesting here is that while the total number of bids has increased dramatically in recent auctions, the average bid hasn't increased nearly as much. This chart bears fruit again around our anecdotal experience with the recent auction 21 especially. 

image.png.12d181a072e8e472815d386ce197c5ec.png

Finally, this chart shows the total number of lots in the columns, and then the average price per lot in the line graph.
It's interesting looking at this trend of coins going from ~low $300s to mid $300s and then skyrocketing up into the mid and upper $400s. I will need to look at Web Auction 16 to see why in all 3 graphs it really stands out as an anomaly. But again here the recent Web Auction 21 was not great from the trend (for Leu, at least), with the average price dropping to a level not seen since, well, ever! Which at least to me was surprising as I thought the lots in Web Auction 21 were some of the nicest I had seen in a while. I'm inclined to think my interests just don't match with the average Leu customer as if there was a softening of the market occurring you would think it would be evident in Auction 20, since it occurred in the days immediately prior to 21. Which may explain why I was personally able to snag up 9 lots, the most I've ever won in any auction before. So, yay!

image.png.a14320e11d8ab516e80d34cf94b3ede3.png

I don't really believe that one can draw any particular conclusions from the lower average of prices realized vs. estimates in Auction 21 as compared to Auctions 19 and 20 a couple of days earlier. I suspect it's primarily a function of Auction 21 consisting mostly of Imperial coins, largely from the 3rd century and later. It's no surprise at all to me that they didn't sell for a high amount over the estimates. I saw a whole lot of Gallienus coins (for example) selling for 20 or 30 CHF apiece -- all except for the rarer types from the Zoo and Legionary Series.

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