CNG 90, Lot: 2187. Estimate $1000. Sold for $3500. This amount does not include the buyer’s fee.

GERMANY, Gotha (Landgrafschaft). Ludwig III. 1172-1190. AR Bracteate (43mm, 0.91 g). Ludwig riding right, holding shield and banner; two small crosses behind. Gotha 183a; Löbbecke 752-4; Kestner 2201-2. Good VF, toned, right edge skillfully repaired, small split at 12.

Property of Princeton Economics acquired by Martin Armstrong. Ex European Private Collection (Sotheby’s, 9 October 1995), lot 489.