Gold Madinah coin dating back 1,000 years and Julius Caesar assassination memento up for sale

Three major auctions by Numismatica Genevensis SA will be held this month, each reflecting an interesting period of history

From left: An aureus, lot 1032 of auction 20, minted in the name of Marcus Junius Brutus; a dinar from 92 AH, minted in the name of Medina, lot number 35 of auction 19. Photo: Numismatica Genevensis SAShow less

Two coins representing significant moments in Roman and Islamic history are set to go under the hammer this month by Numismatica Genevensis SA.

The auction house is holding three major sales on Monday and Tuesday, one of which is dedicated entirely to coins from the Islamic world. The auctions will be held at Geneva’s Beau-Rivage Hotel, but will be accessible online as well.

About 1,000 coins are set to be auctioned, each reflecting an interesting time of history. Two coins, however, stand out.

A Madinah dinar from the first century of Islam

Auction 19 by Numismatica Genevensis SA is entirely dedicated to rare coins from the Islamic world. The lots that are part of The World of Islam sale come from across different eras of the region’s history.

Lot number 35 is one of the most striking of the collection. The gold coin dates to 92 AH, or 710CE. It was minted during the reign of Al-Walid ibn Abd al-Malik, the sixth Umayyad caliph.

Alongside a declaration of faith, the gold dinar features an inscription that reads Ma’din Amir al-Mu’minin, or Mine of the Commander of the Faithful. Photo: Numismatica Genevensis SA

As the Umayyad caliphate ruled from Damascus, Caliph Al-Walid I wanted to show that Madinah still had a central position in the caliphate, even if it wasn’t its capital. This gold dinar is a memento of that gesture. The dinar was struck around the same time that Caliph Al-Walid I ordered the expansion of the Prophet’s Mosque in Madinah. The project was seen as the caliph’s commemoration of Islam’s roots in Madinah, as well as his own ties to the holy city. It was also seen as a measure to quell criticisms of the city’s loss of political stature after the establishment of the Umayyad caliphate.

“The Umayyads were actually a remarkable military power,” says Alain Baron, founder of Numismatica Genevensis SA. “It became the biggest empire at the time in the world. They were more powerful than what was left of the Roman Empire. The headquarters of the Umayyads were in Damascus in Syria. It was also where a lot of the gold was used. It was a very rich region, as opposed to the Hejaz in Saudi Arabia that was relatively poor and and where the coinage was non existent.”

The gold dinar features inscription that reads Ma’din Amir al-Mu’minin, or Mine of the Commander of the Faithful. The legend is a nod to Madinah, but there is debate whether it was minted in the holy city with a travelling mine, or whether it was produced in Damascus, where the coins of the Umayyad caliphate were traditionally struck, and was later engraved in Madinah.

The dinar was minted during the reign of Al-Walid ibn Abd al-Malik, the sixth Umayyad caliph. Photo: Numismatica Genevensis SA

Nevertheless, the gold dinar is extremely rare and of great historical significance.

“Every time a coin like this comes to the market, it's a sensation. This particular coin was bought about 15 years ago at auction in London, and it sold for about $1 million dollars," says Baron. “We'll see what the market judges that is worth nowadays."

The coin will have a starting price of 200,000 Swiss francs ($226,000).

A memento of Julius Caesar’s assassination

Of the more than 1,000 coins to be auctioned, one of them is an aureaus or ancient gold coin, that symbolises one of history’s most famous betrayals. The aureus, lot 1032 of auction 20, was minted in the name of Marcus Junius Brutus. The coin was produced in a traveling mint in Northern Greece or Asia Minor around 43BC, a mere year after Brutus took part in the conspiracy to assassinate Julius Caesar.

“The Brutus is probably the most famous coin in Roman history, because we are talking about the biggest villain of ancient times,” says Baron.

The legend on the face of the coin, Brutus Imp, suggests that the Roman politician, contrary to his republican values, may have wanted to be emperor. Photo: Numismatica Genevensis SA

Brutus’s betrayal is particularly notorious because Caesar regarded him as his son. Brutus had actually colluded against Caesar before, and the ruler, “in his generosity, forgave him,” Baron says. A few years later, Brutus led the assassination of Caesar. The event has been immortalised by Shakespeare in The Tragedy of Julius Caesar, which depicts the dictator’s last words as "Et tu, Brute?," which translates to "You too, Brutus?".

The aureus that will be auctioned potently encapsulates Brutus’s betrayal, as well as his vying for power. Hints of the coin’s purpose lay within its design. One side bears Brutus’s head. The other features a breastplate, helmet, shields and spears. These motifs reflect on Brutus’s military victories. The coin itself was aimed to rally troops to his cause during the volatile political period after the death of Caesar.

“The coin is an incredible piece of of propaganda in a time where there were no newspapers and no TV,” Baron says.

“On one side you have his portrait and with the legend saying Brutus Imp, which is basically saying ‘I am Brutus the Emperor’ and on the reverse, you have the trophy with shield and spears that are basically saying, ‘I'm the greatest military ruler of all times and and I will win all battles’.”

The other side of the coin features a breastplate, helmet, shields and spears, elements that reflect Brutus's military victories. Photo: Numismatica Genevensis SA

The gold coins were minted to curry favour with the highest dignitaries of the time. Silver counterparts of the coin were distributed to soldiers before the historic Battle of Philippi. It is said that while most legionaries were paid a daily wage of one denarius, by contrast Brutus paid each soldier a whopping 1,500 denarii before the battle in Macedonia, where his army faced the forces of Marc Anthony and Octavian.

“The soldiers were overpaid because Brutus needed a strong army,” Baron says. “It didn't help him very much, because at the end, he still was defeated.”

Brutus died by suicide after the battle, after which Octavian had him decapitated. His head was then sent to Rome and displayed at the feet of the statue of Caesar.

“All this happened within two years,” Baron says. “This is also why the aureus is so rare. Brutus didn't have the time to make a lot of them.”

Only about 17 such coins remain in existence today. The aureus has a starting price of 750,000 Swiss francs ($847,161). However, given the interest preceding the sale, Baron says he “would not be surprised if it breaks a world record".

Other notable coins

The coming auctions have several noteworthy pieces, including a set of five Guinea gold pieces of England, struck between 1660 and 1770, as well as a collection of 33 coins from the Umayyad period, that include a gold coin of the Caliph Muawiya that depicts the Byzantine emperor Heraclius. The coin reflects on the influence of the Byzantine empire in the region.

There are also several coins with more affordable starting prices that will tempt those who are just seeking to start a coin collection. These include a silver Abbasid dirham dating to 252 Hijri, or 866CE, that was minted in Armenia.

“The auction has over 1,000 coins from all price ranges, all dynasties and all mints,” Baron says, adding that some start with a price as little as $100. “I think it's a very interesting entry gate for people.”