CNG 105, Lot: 1129. Estimate $7500. Sold for $6500. This amount does not include the buyer’s fee.

ITALY, Ferrara (ducato). Ercole I d'Este. 1471-1505. AR Quarto – Testone (28.5mm, 9.51 g, 7h). Bare head left / Horseman riding right, with flowing cloak and extended right hand. MIR 254; Bellesia, Ferrara 19/D; Biaggi 770. Good VF, toned.

In 1493, Leonardo da Vinci constructed a clay model of a bronze equestrian statue of Francesco Sforza of Milan. The immense statue, standing 26 feet high, proved too complex for the foundry techniques of the day and the final bronze work was never completed. In 1499, Louis XII of France defeated the current prince, Ludovico Sforza, and the model suffered greatly from the depredations of the French troops occupying the city. Ercole attempted to purchase the horse but the French declined to sell it and it was broken up. He eventually obtained one of Da Vinci's smaller models. Those models and this coin are the only surviving evidence of the larger sculpture.