CNG 109, Lot: 150. Estimate $3000. Sold for $4500. This amount does not include the buyer’s fee.

IONIA, Ephesos. Circa 390-325 BC. AR Tetradrachm (23mm, 14.85 g, 11h). Demokrates, magistrate. Struck circa 350-340 BC. Bee with straight wings / Forepart of stag right, head left; palm tree to left, ΔHMOKPATHΣ to right. Pixodarus Class G, obv. die unlisted; SNG von Aulock –; SNG Copenhagen –; Prospero 504; Rhousopolos 3669. Near EF, toned, slightly off center on obverse.

From the Gasvoda Collection. Ex Manhattan Sale IV (8 January 2013), lot 52 (hammer $4500).

From the consignor: This type is rather common but becomes significantly rarer when the body of the bee is full or nearly so, as here. The relief is so high that coins were either not fully struck up, or wore so fast during use that the bee suffers. Although slightly off center, this is a nicer example for the issue.