Rare ancient gold coin once sold by Russian dictator Joseph Stalin fetches record £4.84 million at auction
- One of the world’s most valuable coins has set records after a recent auction
- The coin, an ancient Greek stater, has been called one of the most beautiful ever
A rare gold coin has sold at auction for £4.84 million, making it the most expensive ancient currency ever sold.
The coin, a gold stater, was made between 380 and 304 BC in the ancient Greek city of Panticapaeum in modern Crimea.
The coin was recently sold by rare coin dealer Numismatica Ars Classica at an auction in Switzerland.
The high price tag is due to the coin’s rarity and beauty, the auctioneers said. The coin is considered one of the most important and sought after coins in the entire Greek world.
Mythical status: the rare coin depicts a griffin, a creature with the back half of a lion and the head and wings of an eagle
The coin has an engraving of the head of a satyr – a forest spirit – on one side and a griffin with a spear in its mouth on the other side.
The satyr’s symbolism is thought to be a pun on the name of the ancient king Satyros I, while the griffin refers to the griffins believed to guard the gold found in the mountains of Scythia.
According to the auctioneers, the coin is ‘clearly the work of a master engraver’.
Coin collectors place an even higher price tag on this particular state because the satyr’s head is tilted slightly to one side, rather than in profile, as is the norm.
But the coin’s past is just as interesting as its value.
Rare Beauty: Mint experts praised the expert detailing of the carving of a satyr’s head
The coin used to be part of the collection of the Hermitage Museum in St. Petersburg, Russia.
It was sold at auction of the museum’s duplicates in 1934, when Russian dictator Joseph Stalin decided to sell art to raise money for Russian industry.
It was subsequently purchased by the famous Greek coin collectors, the Charles Gillet Collection.
Arturo Russo, co-director of Numismatica Ars Classica, said: ‘I am very pleased with the phenomenal result that the sale of the Panticapaeum stater achieved at our last auction in Zurich.’