CNG 108, Lot: 126. Estimate $500. Sold for $475. This amount does not include the buyer’s fee.

KINGS of MACEDON. Philip V. 221-179 BC. AR Tetradrachm (24.5mm, 16.78 g, 12h). In the name and types of Alexander III. Corinth mint. Struck circa 220-215 BC. Head of Herakles right, wearing lion skin / Zeus Aëtophoros seated left; in left field, trident head horizontally left; ΘE below throne. Cf. Price 700; Noe, Sicyon, p. 34 and pl. XIII, C (same dies). EF, lightly toned. Extremely rare, possibly one of two known.

From the Colin E. Pitchfork Collection. Ex Gorny & Mosch 118 (14 October 2002), lot 1268.

This coin has the same control marks as Price 700, but differs from that issue in general style, the lack of small Nikai on the throne back, and the orientation of the trident head horizontally, rather than vertically. Noe noted and illustrated an example from the same dies that he observed in a “Peloponnesian Hoard” that has not otherwise been recorded. In his text, Noe observed the stylistic differences between that coin and the others at Corinth, and, though he does not state it directly, he suggests that it is not from the same issue, and possibly not the same mint. Later analysis of the Peloponnesian Alexanders, though, has shown that the coinage at this late date was struck for military purposes, and perhaps under hasty circumstances (demonstrated by the wide variance of styles and the use of dies far beyond their typical life span). As such, it is possible that the same circumstance that prompted the striking of coins of Price 700 re-emerged, requiring new dies made by a different engraver, whose style was markedly divergent from that of his predecessor.