CNG 85, Lot: 88. Estimate $750. Sold for $2100. This amount does not include the buyer’s fee.

ARMENIA, Cilician Armenia. Royal. Levon I. 1198-1219. AR Tram (21mm, 2.62 g, 12h). Coronation issue. The Virgin, nimbate and orans, standing facing, receiving Levon kneeling left, head facing; above, ray emanating from curve (sphere of heaven) toward his head; pellet between / Crowned lion advancing right, head facing; patriarchal cross above. AC 257 var. (rev. legend); CCA 80. VF, toned. Rare.

From the R.A. Collection. Ex Classical Numismatic Group XXVII (29 September 1993), lot 100.

On the eve of the Third Crusade, Pope Clement III asked Prince Levon II and the Catholicos Gregory IV (the head of the Armenian church) to extend financial and military help to the arriving crusaders. Levon sent an escort to the armies of Holy Roman Emperor Frederick Barbarossa, who was approaching Cilicia after settling his disputes with the Byzantine Emperor Isaac II Angelus. Frederick had promised Levon a royal crown for his fidelity, but the former unfortunately drowned while crossing the Calycadnus near Seleucia. Levon, however, continued to support the crusaders, as his army was present at the siege of Acre and he joined Richard the Lionheart in his conquest of Cyprus. For his loyal support, Levon received his royal crown which had been promised, taking the title King Levon I. He was crowned at Tarsus on 6 January 1199 by the Imperial Chancellor Conrad of Hildeshiem, under decree from Pope Clement III and the new Holy Roman Emperor, Henry VI.

Except for the coronation issues, Levon’s coins appear to have been modeled after the coinage of Henry. Though they initially were produced with a very high silver content, they were gradually debased, with a notable deterioration in craftsmanship.