1,700-Year-Old 'Allectus' Gold Coin Crushes Auction Estimates, Sells for $695K

A tiny gold coin depicting the Roman ruler Allectus crushed pre-sale estimates as fierce bidding at the headquarters of London auctioneer Dix Noonan Webb (DNW) catapulted the price to $695,000. DNW had predicted the coin would fetch between $90,000 and $127,000.

The news came as a sweet surprise to the 30-year-old amateur metal detectorist, who discovered the 1,700-year-old coin in a plowed field near Dover, England, back in March. The field is adjacent to the site of an ancient Roman road.

“I cannot believe it, we are ecstatic!" exclaimed the detectorist, who wished to remain anonymous. "We expected it to sell for a little over estimate, but not five times the estimate! We are sharing the money with the farmer, who is also thrilled!”

The solid gold coin, known as an aureus, is just slightly larger than a penny and weighs a mere 4.31 grams (0.15 ounces). The obverse features a portrait of Allectus and the reverse depicts two kneeling captives at the feet of the god Apollo.

Based on today's spot price for gold, the intrinsic value of the coin is about $200, but the hammer price reflects its extreme rarity.

There is only one other coin in existence that was struck with the exact die that produced the Allectus coin sold at auction — and that specimen resides in the British Museum. Allectus ruled Briton and Northern Gaul from 293 AD to 296 AD and it is believed the coinage bearing his image was demonetized and melted down after his untimely death in battle. Today, only 24 aurei of Allectus are known to exist worldwide.

Recognizing the extreme rarity of the Allectus coin, eager bidders at the Dix Noonan Webb venue, on the internet and via telephone challenged each other for the prize. An anonymous private collector bidding by phone was the eventual winner.

“I am delighted with the phenomenal price achieved in today’s sale," said Christopher Webb, Director and Head of DNW’s Coin Department. "This is the most expensive coin that we have ever sold at Dix Noonan Webb. It is the most money ever paid for a coin of Allectus and it is now the most valuable Roman coin minted in Britain to have been sold at auction.”

At first, the detectorist believed he had found a fairly common gold sovereign, but after bringing his discovery to the attention of British authorities, which is demanded by law, he learned that his coin was truly extraordinary. The British Museum compared it to its own specimen, which had been unearthed in the 1800s in Hampshire. The museum's Allectus coin and the newly found treasure matched exactly.

Credits: Images courtesy of Dix Noonan Webb.

Christie's 'Maharajas & Mughal Magnificence' Auction Brings History to Life

Spotlighting more than 500 years of opulence on the Indian subcontinent, Christie's auction in New York this Wednesday is aptly titled "Maharajas & Mughal Magnificence." The sale will celebrate the illustrious culture of Indian jeweled art from the Mughal period and the age of the Maharajas through the present day.

"This is living history in your hand," noted Rahul Kadakia, Christie's International Head of Jewelry.

India’s rich ties to fine jewelry and gemstones, he explained, is partly the result of natural circumstances. The mines of Golconda yielded the highest grade of diamonds. Kashmir produced the rarest and most beautiful sapphires. And the greatest emeralds arrived in India from Colombia through commercial exchange via the Portuguese-controlled ports of Goa.

Jewelry in the Mughal tradition articulated authority, and the empire's rulers valued gems for their rarity, physical properties and provenance.

On the cover of the Maharajas & Mughal Magnificence catalog is a Belle Époque "jigha" (turban ornament) dripping with old-cut, baguette and pear-shaped diamonds. The Indian royal treasure (photo above), which was originally designed in 1907 and remodeled circa 1935, would have been worn on formal occasions by a Maharaja, explained Kadakia. The ornament is estimated to sell in the range of $1.2 million to $2.2 million.

Christie's sale includes two spectacular diamonds sourced at India's Golconda mine.

The first is called the "Mirror of Paradise," a 52.58-carat internally flawless rectangular-cut diamond that's expected to sell in the range of $7 million to $10 million. The D-color gem is set in a platinum ring and accented with tapered baguettes.

The second is called the "Arcot II Diamond." Weighing 17.21 carats, the brilliant-cut, pear-shaped, D-color stone was one of two earring drops sent as a gift to Britain's Queen Charlotte (1744-1818) by the Nawab of Arcot. The diamond drops were later purchased at auction by the Marquess of Westminster and mounted in the "Westminster Tiara," which was worn by the Marquess at the coronation of Queen Elizabeth II in 1953. The historic stone is expected to fetch between $2 million and $4 million.

The lot with the highest pre-sale estimated price is a belle epoque devant-de-corsage brooch highlighted by four impressive diamonds of differing shapes: a pear-shaped brilliant cut (34.08 carats), oval brilliant cut (23.55 carats), marquise brilliant cut (6.51 carats) and heart modified brilliant cut (3.54 carats). The piece was designed by Cartier in 1912 for Solomon Barnato Joel, who made his fortune in the South African diamond mines. Christie's set the pre-sale estimate of this piece at $10 million to $15 million.

One of the most unusual items in the auction is an octagonal-shaped tabular carved emerald of 84.63 carats. The gem's origin can be traced to 17th century Colombia. Christie's experts are expecting it to sell in the range of $3 million and $5 million.

Credits: Images courtesy of Christie's.

Music Friday: Lee Ann Womack Needs to Know, 'Does My Ring Burn Your Finger?'

Welcome to Music Friday when we bring you popular songs with jewelry, gemstones or precious metals in the title or lyrics. Today, country star Lee Ann Womack sings about a marriage gone wrong in her 2001 hit, "Does My Ring Burn Your Finger?"

Womack plays the part of a loving wife whose husband has betrayed her, leaving his wedding band behind. She's heartbroken and yearns to get him back. She wonders if he has trouble with commitments — or maybe he's rediscovered an old flame.

The title of the song evokes a symbol of their wedding "promise" that's suddenly become too unbearable to wear.

She sings, "Did my ring burn your finger? / Did my love weigh you down? / Was the promise too much to keep around?"

Written by husband-and-wife team Buddy and Julie Miller, "Does My Ring Burn Your Finger?" was released as the fourth single from Womack's popular CD I Hope You Dance. The song went to #23 on the US Billboard Hot Country Songs chart, while the album zoomed all the way to #1 on the U.S. Billboard Top Country Albums chart.

USA Today's Ken Barnes picked "Does My Ring Burn Your Finger?" as his #1 song for 2001, describing it as "a searing, chill-conjuring performance of a seething Buddy and Julie Miller tune by country's reigning female vocalist."

In November of 2001, Womack performed the song live during the CMA Awards. The performance was so powerful and so memorable that a Billboard critic couldn't come up with the words to describe it.

In his 2017 review of Womack's 10 Best Songs, Billboard's Chuck Dauphin wrote, "Womack delivered what just might be her most dominant vocal performance – so far. Do us a favor. Check out her performance of this song from the 2001 CMA Awards on YouTube. We get paid to write words describing such moments, but damn. Sometimes, there are none that can aptly describe it."

Born and raised in Jacksonville, Texas, in 1966, Womack developed a love for country music at a young age. Her father was a DJ and often brought her to work to help him pick his playlist.

She emerged as a contemporary country artist in 1997 and was favorably compared to Dolly Parton and Tammy Wynette. Womack has released nine studio albums and sold more than six million albums worldwide. She has received five Academy of Country Music Awards, six Country Music Association Awards and a single Grammy Award.

Please check out her scorching live performance of "Does My Ring Burn Your Finger?" at the 2001 CMA Awards. The lyrics are below if you'd like to sing along...

"Does My Ring Burn Your Finger?"
Written by Julie Miller and Steven Paul (Buddy) Miller. Performed by Lee Ann Womack.

When I gave you my heart
It was not what you wanted
Now the walls say your name
And the pictures are haunted
Does my ring burn your finger
Did my love weigh you down?
Was the promise too much to keep around?

I remember your words and I can't keep from cryin'
I could never believe that your kisses were lyin'
Was there somethin' from the past
Buried in a shallow grave?
Did you think that it was too far gone to save?

Please tell me baby
Please tell me now
You say that I should just go on
Now please tell me how

Now it's just me and the night and I'm so broken hearted
I just wait in the dark here for my dearly departed
Did my ring burn your finger?
Did my love weigh you down?
Was the promise too much to keep around?

Credit: Screen capture via YouTube.com/Lee Ann Womack.

'Inkalamu,’ a 5,655-Carat Emerald Crystal, Makes High-Profile Debut in Delhi

Nearly six months after winning the 5,655-carat "Inkalamu" emerald at a Gemfields auction last November, luxury jeweler Diacolor finally revealed the Zambian-sourced crystal to the public last week at the company's flagship store in Delhi, India.

Inkalamu, which means the “Lion Emerald” in Zambia's regional Bemba language, was discovered at the Kagem mine on October 2 and offered for sale in Singapore in mid-November. There, 45 approved auction partners competed for the extraordinary find — an emerald that boasts remarkable clarity and a perfectly balanced golden green hue. The carat weight is equivalent to 1.1 kg or 2.5 lbs.

“The minute I heard about it, I simply had to have it,” Diacolor's founder and chairman Rajkumar Tongya told The Economic Times. “Such a rare find from Mother Nature, I just couldn’t resist the temptation.”

The founder's son, Rishabh, who is Diacolor's creative director, told the India-based publication that he got goosebumps when he first laid eyes on the “kryptonite-type” emerald.

Neither Diacolor nor Gemfields have revealed the amount of the winning bid.

Despite its massive size, Inkalamu is not the largest crystal to be unearthed at the Kagem mine. In 2010, it yielded a 6,225-carat emerald named “Insofu,” the Bemba word for “elephant.”

And it's not a coincidence that the father-son team at Diacolor purchased that rough gem, as well.

Rajkumar Tongya hinted to The Economic Times that Inkalamu might yield a "pear-shaped, uniform-looking jewelry set."

A Gemfields representative said in October that Inkalamu will take its place among the world’s most exceptional gemstones of all time, and if the crystal is divided into smaller stones, the “The Pride of Inkalamu,” so to speak, will continue the legacy for generations to come.

Before Diacolor takes on the task of cutting and polishing the mammoth stone, the company will be promoting it during an international tour of retail outlets and museums.

The name Inkalamu honors the work carried out by two of Gemfields’ conservation partners, the Zambian Carnivore Programme and the Niassa Carnivore Project in Mozambique. Gemfields will divide 10% of Inkalamu’s auction proceeds equally between the two carnivore initiatives.

Credits: Images courtesy of Gemfields.

Patriots' Super Bowl LIII Championship Ring Is the Largest Ever Created

Two years ago, we marveled at the size and opulence of the New England Patriots' fifth Super Bowl ring — a ring set with 283 diamonds weighing 5.1 carats. As expected, the team's sixth edition is even more over the top — with 422 diamonds weighing 8.25 carats and 20 blue sapphires totaling 1.60 carats.

Billed as the largest ring ever created in Super Bowl history, the unique football-shaped symbol of the team's winning tradition and championship legacy was presented to Patriots players, coaches, staff and executives by team chairman and CEO Robert Kraft during a private ceremony at his home this past Thursday.

The Patriots Super Bowl LIII championship ring, which was designed by Jostens, is likely the largest and most ornate ring ever created for any team in any sport. The 10-karat gold rings are also teeming with symbolism.

For example, 38 diamonds surround the iconic blue and red Patriots logo with an additional diamond set in the star. Combined, these 39 diamonds represent two NFL records achieved by the Pats with their Super Bowl LIII win. It was the franchise's 37th playoff victory — more than any other NFL team. In addition, they became the second team in NFL history to win six Super Bowls.

Sitting atop the Patriots logo are six Lombardi trophies, represented by marquise-cut diamonds outlined with 123 round diamonds. Providing a glistening background for the trophies are 108 pavé-set diamonds, which represent the number of practices held during the 2018 season. This symbol spotlights the team's focus on preparation — one diamond for every practice.

The words "WORLD" and "CHAMPIONS" flank the top of the ring in raised white gold lettering on a black ground. Exactly 76 diamonds — a patriotic nod to the 1776 birth date of the US — adorn the edges of the ring. Completing the intricate design are 20 round blue sapphires, which are emblematic of the Patriots 20 AFC East division championships.

The right side of the ring features the team's name above the Super Bowl LIII logo and includes the final score of the championship finale against the Los Angeles Rams, 13-3. The Patriots' rally cry of "STILL HERE," which the team embraced throughout the 2018-2019 playoffs, completes the design of the ring's right side.

Appearing on the left side of the ring is the name of each recipient rendered in the official Patriots font. The name sits above a rendering of Gillette Stadium's signature lighthouse and bridge. To the left of the lighthouse is the player's uniform number, encrusted in diamonds. The franchise's sixth Super Bowl title is commemorated with a "6X" and dated 2018.

Robert Kraft's iconic quote and the team's foundational motto, "WE ARE ALL PATRIOTS," is inscribed inside the ring, along with Kraft's signature and the date he spoke those famous words. The palm crest features the years of the team's previous five championship seasons.

Credits: Images courtesy of Jostens.