Triton XIX, Lot: 346. Estimate $1000. Sold for $8000. This amount does not include the buyer’s fee.

KHWAREZMIA. Uncertain king B. 1st century AD. AR Tetradrachm (30mm, 13.57 g, 1h). Diademed bust right, wearing cap-like headdress with posterior flap; behind, Nike flying right, crowning him with wreath; all within bead-and-reel border / IVΛYEΩIE MEΛYΛ above, EIΛVIΛV below, king on horseback right; tamgha to left. Vainberg AIII; Tolstov pl. VI, 1 = Whitehead p. 38, fig. 3 = Göbl, Dokumente, pl. V = MIG Type 498; Sunrise 517. Good VF, areas of light toning.

Some references give this coinage to a king named Artav (Artabanos), but this attribution is speculative. For a recent study of the ancient coinage of the kings of Khwarezmia, see M. Fedorov, “Money Circulation of Khawrezm in the Ancient Period,” ONS Newsletter 182 (Winter, 2005).