Extremely Rare Seleukos I Drachm

196, Lot: 50. Estimate $300. Sold for $900. This amount does not include the buyer’s fee.

SELEUKID KINGS of SYRIA. Seleukos I Nikator. 312-281 BC. AR Drachm (16mm, 4.11 g, 1h). Uncertain Eastern mint (in Drangiana or Arachosia?). Struck circa 294-281 BC. Head of Herakles right, wearing lion skin / Zeus Äetophoros seated left; anchor in left field, monogram below throne. SC 244 (this coin referenced); Houghton 1304 (this coin). Good VF, attractive dark toning. Extremely rare issue, one of only two known.

Ex Arthur Houghton Collection, 1304.

This is one of only two known coins from this mint. Both exhibit an unconventional legend that curves upward from below, as well as an unusual cupped reverse, which are highly similar to other known eastern Seleukid coin series in the east. B. Kritt, in his book The Seleukid Coinage of Bactria, argued for a Baktrian mint based on the legend style, which he noted is more common in Baktrian issues. Further, he argued for a date of issue upon, or shortly after, the death of Seleukos I, believing that the uncertainty of the succession would prompt a need for signs of continuity which Seleukid images on coins could help provide. Houghton and Lorber, however, believe the coin may be related to their uncertain mint 16, which they convincingly assign to the area of Drangiana or western Arachosia. While neither attribution can be made with certainty at this time, the preponderance of the evidence suggests all or most of the uncertain eastern issues were struck during the coregency of Seleukos and his son, Antiochos, 294-281 BC.