New coins on the auction block

In 2014, a previously unknown type of Byzantine hexagram appeared on the market. Hexagrams are silver coins introduced in 615 AD by the emperor Heraclius and continued to be struck through into the 680s towards the end of the reign of his great-grandson Constantine IV (668-685) (Grierson 1999: 13). Dating to the reign of Constans II (641-668), these newly recognised hexagrams carry a bust of Constans II on the obverse and three standing figures of his sons Tiberius, Constantine IV and Heraclius on the reverse. By the end of 2015, six examples had appeared, which could be divided stylistically into fine and crude groups (Woods 2015). No new examples have appeared since then. The six known examples are listed on the Sixbid Coin Collector’s Archive:

 Auction dateAuctionPrice (EUR)
121 October 2014
5 April 2015
Nomos, Auction 9, lot 320
Pecunem, Auction 30, lot 610
Not sold
210 December 2014Rauch, Auction 96, lot 6473500
39 March 2015Gorny, Auction 228, lot 7563800
413 March 2015
27 June 2015
Kunker, Auction 262, lot 8474
Roma, E-sale 18, lot 1210
Not sold
522 March 2015Roma, Auction IX, lot 9056892
627 September 2015Roma, Auction X, lot 9316532

The description provided for the first one of these coins to be offered for sale in October 2014 at Nomos stated that it was “Of the greatest rarity, one of apparently two known examples, and unpublished” and that it was “uncleaned as found”. Two months later in December 2014, Rauch stated the coin it was offering was the third known copy. And so it went on:

Roma, 22 March 2015: “The fourth known example of this interesting type”.

Roma, 27 June 2015: “The fifth known example of this interesting type”.

Roma, 27 September 2015: “the sixth and finest known example of the type”.

The coin sold at the March 2015 Roma sale was bought by Dumbarton Oaks (BZC.2015.003). On its website, it describes the coin as the “Fourth specimen known of this type, which is missing from reference books”.

Dumbarton Oaks BZC.2015.003

It has been argued that because the coins all appeared on the market at the same time they may have come from a single hoard (Woods 2015: 174, note 10). Although no hexagrams of this type are known to have been found in modern-day Syria or its immediately neighbouring countries, historical sources support the further argument that they were in circulation there (Woods 2015: 180). Thus in all probability they were found there.

Clearly, the buyers and sellers were all aware that the coins were new to the market. Their descriptions said as much. Whether or not they suspected a Syrian origin is not possible to say, but they should have done. Let’s remember what was happening back then. In September 2013, ICOM released its Emergency Red List of Syrian Cultural Objects at Risk, which highlighted Achaemenid to Ottoman period coins. On 16 May 2015, US Special Forces raided the Syrian compound of Abu Sayyaf, head of the Da’esh Diwan al Rikaz (Ministry of Natural Resources and Minerals, including its Antiquities Division), where they recovered ancient coins from Syria and Iraq and there were electronic images of more gold coins and jewellery on his computer. In November 2015, Yaya J. Fanusie and Alexander Joffe published a report on Daesh’s antiquities trafficking, claiming that “Coins and other metal objects have emerged as particularly attractive items for IS”. So, by late 2015 at the very latest, it was widely known that there was an illegal trade in ancient coins out of Syria and that it was an important source of revenue for Salafist-jihadist groups such as Da’esh. And legislators were paying attention. In December 2013, European Union (EU) Council Regulation no. 1332/2013 concerning restrictive measures in view of the situation in Syria placed a trade embargo on Syrian cultural objects illegally removed from Syria on or after 9 May 2011. In February 2015, United Nations Security Council Resolution (UNSCR) 2199 placed a trade embargo on Syrian cultural objects removed illegally from Syria after 15 March 2011.

If as numismatic opinion suggests these new coins really were found in Syria, what were they doing being sold in Europe in apparent contravention of EU Regulation no. 1332/2013? Did anybody report the coins to the police? It appears not. When faced with unevidenced claims that unprovenanced antiquities are illicit in some way, dealers are always quick to claim they must be considered innocent until proven guilty. This is a good sound bite, but unfortunately very far from the mark. They would have us believe that the legitimacy of an unprovenanced antiquity is subject to the same burden of proof as the guilt of a person. But it is not. Civil disputes over ownership are decided on the balance of probabilities, not upon demonstration of guilt beyond reasonable doubt. Applying this standard, the appearance of a small hoard of previously unattested silver coins of a type known to have been circulating in Syria or its neighbouring countries at a time when there was also known to be active large scale looting and trafficking of ancient coins out of Syria might suggest, on balance, that the coins really were from Syria. Not that this probable conclusion concerned their buyers and sellers.

Mind you, they might have good reason for their apparent unconcern. EU Regulation 1332/2013 states that it applies to “Syrian cultural property goods and other goods of archaeological, historical, cultural, rare scientific or religious importance, including those listed in Annex XI”. Unfortunately, Annex XI does not specifically list ancient coins, except as category 13(b) “Collections of historical, palaeontological, ethnographic or numismatic interest”. But close inspection of Annex XI reveals the listing to be problematical. Category 13, based upon Harmonized Commodity Description and Coding System (HS) 9705.00 lists:

13(a) Collections and specimens from zoological, botanical, mineralogical or anatomical collections;

13(b) Collections of historical, palaeontological, ethnographic or numismatic interest.

The same listings appear as Category 13 in Annex 1 of the 2008 EU Council Regulation no. 116/2009 on the export of cultural goods. So, while Category 13(a) of these annexes includes “collections and specimens”, Category 13(b) includes only “collections”. These definitions are at variance with the WCO listings of 9705.00, which include “Collections and collectors’ pieces of zoological, botanical, mineralogical, anatomical, historical, archaeological, palaeontological, ethnographic or numismatic interest”. As the WCO developed the list, it is presumably the authoritative version. Thus, while the WCO explicitly includes “collectors’ pieces of numismatic interest”, the EC Regulations don’t. It might be a drafting error. But it might also lead reasonable people to believe that the omission is deliberate, and that neither Regulation 1332/2013 nor Regulation 116/2009 is intended to apply to “collectors’ pieces of numismatic interest”. In other words, the trade of individual coins is not subject to legal control.

Or maybe it is. In both Regulations, the term “collections” in Category 13(b) is qualified by the following footnote:

As defined by the Court of Justice in its judgment in Case 252/84 as follows: “Collectors’ pieces within the meaning of heading No 97.05 of the Common Customs Tariff are articles which possess the requisite characteristics for inclusion in a collection, that is to say, articles which are relatively rare, are not normally used for their original purpose, are the subject of special transactions outside the normal trade in similar utility articles and are of high value”.

In defining “collectors’ pieces”, the footnote implies that Category 13(b) should indeed include “collectors’ pieces”, so perhaps their omission is more by accident than by design. But the footnote raises further unfortunate ambiguities. What exactly does it mean by “relatively rare” and “high value”? Neither Regulation offers any guidance. The hexagrams are obviously rare. There are only six of them known. But what about value? The Sixbid Archive registers 182 Byzantine hexagrams sold between 2011 and 2019 for 61,888 EUR in total at an average (mean) price of 340 EUR and a median price of 181 EUR. The cheapest was 45 EUR and the most expensive was 3,752 EUR. So, for a hexagram, the new type might be considered high value, though not when compared to other coins, contemporary gold solidi, for example. And the prices achieved at auction in Europe would be higher than those declared on import documents. But more guidance is offered by the March 2019 EU Regulation 2019/880 on the introduction and the import of cultural goods. This Regulation establishes in its Annex that it applies to “antiquities, such as inscriptions, coins and engraved seals”, but seemingly judging rarity by value, it applies only to objects valued at more than 18,000 EUR. That is a far higher price than anything achieved by these new (or any) hexagrams.

So, the import and trade of these previously unknown Constans II hexagrams would appear to be in accord with the letter if not the spirit of the law. They were probably found in Syria, but possibly not. Their trade may be subject to legal control, but almost certainly not. If the purpose of regulatory instruments is to control illicit trade, they need to be much clearer about just what it is exactly they are trying to control. The law needs tightening, to say the least. And in the absence of legal clarity, there is no point trying to raise awareness about the harmful consequences of the trade in ancient coins, and particularly coins from Syria where evidence suggests that the trade is profiting Salafist-jihadist groups. There is no point either in making appeals for more ethical business practices when the perception will be that the appeals are asking legitimate businesses to go above and beyond what is strictly required of them by law. With profits at stake, that will not happen.


Grierson, Philip, 1999. Byzantine Coinage. Washington DC: Dumbarton Oaks.

Woods, David, 2015. Muʽāwiyah, Constans II and coins without crosses, Israel Numismatic Research 10: 169-182.