CNG 106, Lot: 216. Estimate $3000. Sold for $3000. This amount does not include the buyer’s fee.

KINGS of MACEDON. Demetrios I Poliorketes. 306-283 BC. AR Tetradrachm (28mm, 17.17 g, 12h). Ephesos mint. Struck circa 301-295 BC. Nike, blowing trumpet and holding stylis, standing left on prow of galley left / BA-ΣIΛEΩ-Σ ΔHMHTPIOY, Poseidon Pelagaios standing left, preparing to throw trident; monogram to left, star to right. Newell 51 (dies XLVI/88 [unlisted combination]); HGC 3.1, 1012d; SNG Fitzwilliam 2288 (same rev. die). Near EF, dark toning. Well struck.

From the WN Collection. Ex Classical Numismatic Group 94 (18 September 2013), lot 276.

The new die combination that this coin presents is interesting, but perhaps more important is a feature on the reverse, one that is not clear on the Fitzwilliam piece that Newell saw for this die. On the present well-struck example, it is clear that the reverse die was originally engraved with another control mark, an A, below the star – thus the die was first used to strike Newell 52 tetradrachms and was then converted to the control marks of Newell 51. This revelation shows that Newell 51 could not precede Newell 52; they were either concurrent issues, or issue 52 preceded issue 51.