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Heritage Auctions, Inc.   |   World Coins & Ancient Coins #3066   |   17 August 2018 Sort by Lot-NumberSort by Estimate
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Lot 30078

Estimate: 8'000 USD   |   Starting price: 4'000 USD Price realized: 54'000 USD
PTOLEMAIC EGYPT. Ptolemy III Euergetes (246-222 BC). AV mnaieion or octodrachm (27mm, 27.84 gm, 12h). NGC MS 5/5 - 4/5. Posthumous issue of Alexandria, under Ptolemy IV, ca. 221-205 BC. Bust of the deified Ptolemy III right, wearing radiate diadem and aegis; trident over left shoulder, the central tine ornamented with lotus finial / ΠTOΛEMAIOY-BAΣIΛEΩΣ, radiate and filleted cornucopia, one bunch of grapes hanging at side; ΔI below. Svoronos 1117. SNG Copenhagen 196. Crisply struck, with a very detailed portrait on an ample flan with shimmering cartwheel luster. The buying power of one gold mnaieion was enormous and unprecedented, roughly $4,000 in today's currency. No other kingdom or empire in the ancient world could produce such large gold coins, and this display of economic clout drew thousands of mercenary soldiers into Egypt's service. This large and powerful army was put to maximum use by the third king of the Ptolemaic dynasty, Ptolemy III Euergetes (246-222 BC). Shortly after inheriting the throne of the Pharaohs, he launched a massive invasion of the neighboring Seleucid Kingdom of Syria. Easily crushing all resistance, he even reached Babylon, where he proclaimed himself King of Kings. Ptolemy III's powerful portrait appears on gold mnaieions struck by his son, Ptolemy IV Philopator, who succeeded him in 221 BC.HID05401242017

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