Officials seize
two ancient coins at NYINC By Mike Sussman
Ancient Coins Seized at NYC Auction - Much to the surprise
of the auction attendees of the New York International Coin
Convention held at the Waldorf-Astoria on January 3, 2012,
two Greek coins were confiscated by the New York District
Attorney and the Department of Homeland Security. The coins
were Lots 1008 and 1009 from “Cabinet W.” The
first had a pre-auction estimate of $2.5 million and the
second, $300,000.
Erick McFadden, senior director of the Classical Numismatic
Group’s London office announced news of the seizure
to floor and on-line bidders the next day. Although there
was much speculation and consternation among attendees,
no explanation was given.
District Attorney’s Office, in a criminal complaint,
alleges that, “the defendant [Dr. Arnold-Peter Weiss]
knowingly possessed stolen property with a value in excess
of 50,000 dollars with intent to benefit a person [other]
than an owner of the property and to impede recovery by
an owner thereof.”
CNG described the coins from Cabinet W: “although
few in number, [they] form one of the most important offerings
of ancient Greek coinage in living memory. The rarity and
quality of these coins places all of them among the finest
known examples of their type.” The 19 coins in the
group were showcased in a special supplemental catalog.
The details of the complaint are: “Deponent states
that at the date, time, and place of occurrence, deponent
observed defendant in possession of a 4th century BC [sic]
silver coin, called a tetradrachm. Deponent also observed
that the defendant was attempting to sell the same for approximately
$300,000 under catalogue number 1009 in an auction defendant
was conducting at the Waldorf-Astoria Hotel.”
A “confidential informant” claimed that at
least one of the coins belonged to the Italian government.
The complaint further stated that the investigator was “informed
by Captain Massimo Maresca, of the Italian Carabinieri Tutela
Patrimonio Culturale, that Italian law, namely the Code
of the Cultural and Landscape Heritage, has vested absolute
and true ownership of all antiquities found in Italy after
1909 in the Italian government. According to informant,
who examined the coin after it was seized, the government
of Italy is the true owner of the tetradrachm under catalogue
number 1009, and the Italian government never gave defendant
or anyone permission, consent, or authority to remove said
coin from the ground or to remove it from Italy.”
Surprisingly, the Akragas silver decadrachm was not mentioned
in the complaint. It was Lot 1008, the highlight of Cabinet
W, with a pre-auction estimate of $2.5 million. The auction
catalog describe it as follows: “From a collection
in the United States, once in a Swiss collection and, earlier,
in an English collection in London in the 1960s.”
It is not known why this lot was missing from the complaint.
It may be that there are fewer questions about its provenance
than Lot 1009. According to the complaint, “the defendant
knew that coin 1009 was ‘freshly dug’ and that,
therefore, it had to be the property of the Italian government.”
According to the Coin World article of January 9, 2012,
“The seizures were the latest action in the ongoing
fight over cultural property as it affects coins, and the
most visible action since the recent announcement of broader
import restrictions of ancient Greek coins, which was made
Dec. 1 in the Federal Register.”
Dr. Weiss, is trustee of the American Numismatic Society,
is an internationally recognized hand surgeon and Professor
of Orthopedics at Brown Medical School and Rhode Island
Hospital. He is Editor of the Journal of Hand Surgery and
the holder of seven U.S. patents for widely-used medical
devices. Dr. Weiss has been honored with the America's Top
Doctors, Best Doctors in America, and America's Top Surgeons
awards. Weiss is past Chair, Board of Governors of the Museum
of Art, Rhode Island School of Design (RISD) and previously
served as a Trustee of RISD.