A coin hoard from the Levant?

I notice that Classical Numismatic Group, Inc. is selling a coin hoard ('Eastern Hacksilber') [CNG 97, lot 1 ]. It consists of 'Hoard of 32 Cut Silver Coins, Hacksilber, and Jewelry', and dates to the late 5th century BC. The hoard contains three fragmentary coins of Sidon.

The information about the lot informs us:

'Uncertain find spot, but the composition of the hoard is consistent with others found in the Levant'.

What is the previous documented collecting history of this hoard? Who was the previous proprietor?

Where in the 'Levant' was this hoard found? When was it found?

Can we be certain that all the pieces of the 'hoard' were found together? Are there other parts of the hoard that are not being offered here? Have parts been retained?

This hoard illustrates some of the intellectual consequences of dealing with numismatic material that has no documented find-spot.

Collector or dealer?

I have been contacted about the status of Dr Arnold-Peter Weiss who is associated with coins that will be returning to Greece.

The ANS describes him as follows:

A collector of ancient coins, Dr. Weiss is one of the founding Partners of the second incarnation of the firm Nomos AG, of Zürich, Switzerland.

In other words he is both collector and dealer.

The recent case suggested that he was actively dealing:

Weiss was aiming to sell one of them [sc. coins] for about $350,000 and two others for about $1.2 million apiece, prosecutors said.

Coin World described him as a collector:

Dr. Arnold-Peter C. Weiss, the collector who was arrested and had coins seized Jan. 3 in New York City

We can only presume that the "collection" was known as "Cabinet W". And it appears that Weiss was the intending "seller" of these coins.

And Weiss also has clear links with Nomos AG of Zurich, Switzerland. (And see also here for the link between Nomos AG, Classical Numismatic Group and Cabinet W.)

Weiss claims to be "Trustee of the American Numismatic Society (New York)" though he is not listed in that capacity on the ANS website.

For the interchange between collector and dealer see the case of the Minneapolis krater.

So do dealers collect? Do collectors deal? How long do the "valued" objects remain in a collection before another "collector" is offered the opportunity to acquire them?

Coin dealers and the proposed MOU with Bulgaria

I note that Mark Fox has written about concerns over the proposed MOU with Bulgaria and how it could affect coin-collectors ("Bulgaria Seeks Import Restrictions", Numismatic News October 31, 2011). Fox notes:

Several prominent coin dealers and auction houses, including Classical Numismatic Group (CNG) and Harlan J. Berk, Ltd., have already alerted their customers about Bulgaria’s request for an MOU with the U.S. and its possible implications on the hobby if implemented.

It should be noted that CNG has more than a passing interest in coins that appear to be derived from Bulgaria. Indeed the press release relating to this case appears to have been circulated by a paid Washington lobbyist. The same lobbyist has commented in a private capacity on the proposed MOU with Bulgaria.

Eric J. McFadden of CNG has made a submission about the proposed MOU commenting on the place of coin collecting:

This pursuit has been the source, for hundreds of years, of international understanding and cooperation, not to mention personal enrichment, satisfaction, and enjoyment for American collectors who have been at the forefront of numismatic collecting and research.

There is still time to make a submission.

Coins from Bulgaria

There are reports that Bulgarian police have stopped the auction of medieval coins reported to have come from Bulgaria ("Bulgarian Police Bust Illegal Medieval Coins Auction", Novinite [Sofia] November 11, 2010). The sale is reported to have been through the London registered Classical Numismatic Group (CNG). Apparently the sale included material from a collection stolen in 2007. It would seem to be a good example of pan-European co-operation.

But there must be another question. The London office of CNG was involved with the silver denarius of Brutus. At that time Eric McFadden of CNG was quoted in the London press:

"One looks at the deal on the table. We're business people. If there's any indication something's not legitimate, we don't deal in it."

If that is the case, how did CNG come into the possession of the Bulgarian material? Who sold it to them? What were their sources?

And it should be noted that McFadden wrote an extensive submission on the recent proposed MOU with Greece. This latest incident over the Bulgarian material puts McFadden's comments in new light.

Greece and coins: denarius

Greece has made a formal request for the USA to consider imposing import restrictions on archaeological material. Some North American collectors have been raising concerns that this will include coins.

Looking back to 2005 we should remember that the Classical Numismatic Group handed over a Roman denarius to the Greek embassy in London (Dalya Alberge, "Swoop by Customs returns Brutus to scene of the crime", The Times (London) June 15, 2006).

Eric McFadden, the senior director of the Classical Numismatic Group, confirmed that he had bought it from two Greeks -even though one of them had allegedly been linked with Nino Savoca, an Italian dealer in Munich, who died in 1998 after being found to have been dealing in smuggled antiquities.
Mr McFadden, whose company is regarded as one of the world's leading specialists in Greek and Roman coins, told The Times: "He did some work for Nino in the 1980s ... One doesn't refuse to deal with someone because he has a slightly shady background. 

"One looks at the deal on the table. We're business people. If there's any indication something's not legitimate, we don't deal in it."

The investigation by customs officials surrounded two Greek nationals who are said to have tried to leave the UK carrying a substantial amount of cash.

An investigation by Customs determined that the cash was payment for a coin that they had sold that morning to Classical Numismatic Group, of London. The cash was seized under the Proceeds of Crime Act, and Customs contacted the Greek Embassy.

The executive director of the ACCG subsequently commented on the case (Leon Worden, "Ancient Coin Buyers, Beware: Even seasoned dealers can get stung", COINage magazine Vol. 42, No. 11, November 2006).

Longtime coin dealer Wayne Sayles, executive director of the Ancient Coin Collectors Guild, agreed. 

"There is no tradition in the world market for the background-checking of sellers, nor is there any real reason for it," Sayles said. "There are pertinent and applicable laws in most countries that deal with import, theft, etc., and dealers do, in my experience, try diligently to follow those laws as they apply at the point of sale." 

Sayles lamented that "we may have lost an opportunity to contest a claim that seems to be arguable on several grounds."

Readers will note the emphasis on the "pertinent and applicable laws" relating to the "import" of such archaeological material including coins. Indeed such "laws" will help to protect dealers from those who sell recently surfaced material.

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Denarius © Hellenic Ministry of Culture (source)