CNG 90, Lot: 577. Estimate $300. Sold for $575. This amount does not include the buyer’s fee.

TROAS, Kebren. Late 6th-early 5th centuries BC. EL Twenty-Fourth Stater (7mm, 0.69 g). Head of ram left / Incuse square punch. Gemini VII, lot 496, otherwise, unpublished. Good VF, light scuff on obvere.

Although there are a few electrum issues known with a ram’s head (cf. Weidauer 50-1 and Boston MFA 1756), all are distinctly different in style from this coin. At the same time, the style of the ram’s head here is a perfect match to the type found on the early silver issues at Kebren (cf. Rosen 531). SNG von Aulock 7775 and NY Sale XX, lot 197 appear to be hektes with this same style.