Sale: CNG 64, Lot: 356. Estimate $2000.  Closing Date: Wednesday, 24 September 2003.  Sold For $16500. This amount does not include the buyer’s fee.

ASIA MINOR. Uncertain mint. Circa 6th century BC. EL Ingot (92.41 gm). Smooth convex upper surface, textured lower surface. Shallow scrapes on obverse, otherwise as cast. ($2000)

This ingot is part of a small parcel of electrum ingots and early coins that has recently come to light. Four smaller ingots and two coins were sold in Rauch 71 (28 April 2003), lots 155-160. The Rauch ingots came in a weight range that appears to represent pieces of 1, 2, 4, and 5 staters on the Phokaian standard, with this piece representing 6 staters. Their size and shape are completely irregular, the result of having been cast free-hand into a sand form. A metallurgical analysis done at Oxford University proves the ingots to have a variable gold fineness, varying from 65% to 29%. The composition of this piece is 37.56% gold, 59.59% silver, 2.85 % copper and a trace of lead. A similar ingot of fine gold was published in R. Walburg, "Lydisch oder Persisisch? Ein Goldobjekt aus der Frühzeit der Münzpragung," SNR 70 (1991).