The Compagnie des Indes Orientales : Boone reveals the oldest share ever auctioned in upcoming international collectors event

Mario Boone is a major player in the field of antique share certificates and financial documents. The auctioneer scheduled his 67th scripophily auction and bourse on 16 and 17 October 2021. On the agenda are about 1400 scripophily lots that will go on the block in Antwerp.

Boone succeeded in compiling exceptional rare and beautiful stocks and bonds from all continents, such as the oldest share to be auctioned, the oldest French railway share, a share purchased by Nobel prize laureate Max Planck, and many more amazing historic securities like this one.

Prior to the late 1890s color photography was the domain of a small number of researchers that build their own equipment. This share from 1897 is signed by the Belgian color photography pioneer Louis Ernest Dugardin who invented one of the first commercially available color cameras in the world. He founded in 1897 the Paris based Société Nationale de la Photographie des Couleurs et de Reproductions Artistiques Procédés L. Dugardin. This share was designed by the French Belle Epoque artist Lucien Métivet and printed by Imprimerie G. Richard. An amazing document, L(ot) 557 in the sale starts at €2000.

I'll point of out some more highlights of the sale in a moment, but first I'll say something about the bulky auction catalog that counts over 200 pages of data and images. Auction lots are grouped first by region, then by country. The main index lists over 90 countries. Large sections include Belgium, France, Russia, Germany, USA, Spain, Egypt, China, Great Britain and Italy. Collectors of scripophily from seldom-seen places like Papua New Guinea, Pakistan, Ghana, Monaco, Martinique, etc, will be surprised by what's going under the hamer.

The Monte Toro Fábrica de Quesos operated on the island of Menorca. This share shows scenes from the town of Es Mercadal at the foot of the Monto Toro, the highest point on the island, a woman making cheese, and grazing cows. The certificate was printed in 1901 in Barcelona by Imp. Luis Tasso. L1075 in the auction, bids accepted from €100 onwards. 

So, what about the top item of the sale ? Well, it's a share from the Compagnie des Indes Orientales issued more than 350 years ago in 1665. That was an eventful year :  the Second Anglo-Dutch War begins, King Charles II of England leaves London fleeing the Great Plague, the Qing invasion of Taiwan fails due to a typhoon, and the Compagnie des Indes Orientales sends twenty settlers to start the colonisation of Réunion.

 

The Compagnie des Indes Orientales was founded by Jean-Baptiste Colbert on 1 September 1664 to compete with the English and Dutch colonial trading companies. The company was granted a 50-year monopoly of French trade in the Indian and Pacific Oceans, from the Cape of Good Hope to the Straits of Magellan, with a concession in perpetuity for Madagascar and ‘all other islands and lands it could conquer’ (*).  The company also had to build churches and train priests in its territories. Several ‘comptoirs’ were established in various parts of India such as Puducherry and Chandannagar. 

This share of 6000 French Livres, 2000 Livres been paid, unique and of great historic importance, is the earliest share ever auctioned. Bids for L467 start at €44,000 

(*) The Compagnie des Indes, by Howard Shakespeare, Journal of the IBSS, Feb 1997 

At the end of the printed catalog, you'll find a list with over 100 indexes on themes, Belgian provinces, famous signatures, artists and printing companies. On top of that you can search through the online version with keywords.

There is nothing as fascinating as antique securities produced in gold print. A search through the digital catalog on keywords like "gold print", "printed in gold" and "gold, black" (co-occuring colors), yield some great results. You should see these. I've listed them by start price in ascending order : 

• €30, L440 Basilique de Sainte Thérèse de l'Enfant-Jésus à Lisieux, 1933, Lisieux, Calvados
• €40, L1173 The Port Rowan and Lake Shore Railway Company, 1880s, Port Dover, Ontario
• €80, L702 Cooperative des Médecins et Pharmaciens de Grèce, 1924, Athens (see image below)
• €200, L230 Szegedi Kereskedelmi es Iparbank, 1909, Szegeden, Hungary
• €200, L524 Compagnie L'Union Service par Bateaux à Vapeur et Autres, 1840, Rouen, France
• €1000, L459 Casino et Concerts Paganini, 1837, Paris
• €1200, L1274 The Gold Mining Company, 1888, registered in West Virginia, mines at Mojave County, Arizona
• €2000, L758 Barkschip: Grootmeester Nationaal, 1857, Dordrecht
• €2000, L1169 Great Cariboo Gold Company, 1905, New York, but operations in British Columbia, Canada

L702 is a wonderful 5 shares certificate in the Cooperative des Médecins et Pharmaciens de Grèce. Issued in 1924, Athens, and produced in gold print. 

Boone auctions always include scripophily related to that little country somewhere near the center of Europe, Belgium (about 220 lots). Here are some interesting lots from that chapter in the sale :

• L234 Algemeene Nederlandsche Maatschappij ter Begunstiging van de Volksvlijt, a Dutch share from 1825 to finance a new canal between Pommeroeul and Antoing (Hainaut province) 
• L241 the oldest certificate seen, a bond, from A.C.E.C., and highly decorative too
• L245 Société Européenne d'Automobiles, 1898, far ahead of its time targeting the European market, rare and prehistoric automobile manufacturer 

I didn't know that Belgium once tried to colonize Guatemala, did you ? Here's a share, L292, in the Compagnie Belge de Colonisation, Communauté de l'Union, issued in 1844. The company was founded with the help of King Leopold I of Belgium to administer Santo-Thomas de Guatemala, today known as Santo Tomàs de Castilla, Puerto Barrios. Leopold's goal was not only to exploit rich natural resources, but also to reduce crime in Belgium by sending the unemployed, the underprivileged and adventurers to the "promised land of Verapaz".  Many colonists died in the harsh conditions and the project was given up after 20 years. A rare object of Belgian international history, bidding starts at €200.

There is a lot more to discover in the auction. I almost forgot, if you are into Russian scripophily, then don't forget to check out that chapter as well. It includes interesting railway certificates but also a large section of Russian banking and credit securities. 

Before giving you further details and links for the event, I'll end this post with an incredibly beautifully produced work. Extremely rare and of historic economic importance, L451 is a share in the Chemin de Fer de Paris à St. Cloud et Versailles - Rive Droite de la Seine, the oldest French steam-powered railway. The share dates from 1837 and is signed by politician and financier Emile Pereire.

The auction catalog fully describes the history of this French railway company, the Chemin de Fer de Paris à St. Cloud et Versailles. Click the image above and below to see more details of this wonderful print. In the detail below, you see two angels below a column. They present the coat of arms of Paris. Above and at the left of the figures you can detect two light grey rosettes. All those details are produced in such a way that it gives the viewer a feeling of depth just like the raised relief on a medal. But that is only an optical illusion. In fact, the only color used for this print is black. The certificate's design was created by the best engraver of its time, Jacques-Jean Barre, who designed and engraved the first postage stamps of France. He was master engraver at the Monnaie de Paris producing designs for coins and medals. Absolutely stunning. Start price of L451 is €12,000.

Even if you are not a collector the weekend of 16 and/or 17 October is an opportunity to see some great antique securities. As for me, I am looking forward to meet again collector friends that I haven't seen for a long time. Here are the details :

• Location : Antwerp, Belgium
• Dates
• 16 October 2021, Boone's 67th live and internet auction
• 17 October 2021, bourse of historic bonds and shares
• Further info : 
• online catalog & bidding, see here 
• or via the Invaluable platform (large images), see there 
• and the PDF version of the catalog can be found here 

F.L.

PS : Did you like this post ? I'd love to see you sharing it on your favorite social media channel !

Connoisseurs of British railway securities will be thrilled at Boone's next scripophily auction

The 64th auction of Mario Boone takes place online with an exceptional range of high quality collectibles. Nearly 1,700 antique stocks and bonds spanning 4 centuries of financial history represent about 100 countries.

Boone's next auction is set for 4 April 2020. Included are many genuine founder shares from famous companies. This is one from the Assicurazioni Generali Austro-Italiche. 

Following the Napoleonic Wars, Trieste became the main trading port and shipbuilding centre of the Austrian Empire. There insurance expert Joseph Lazarus Morpurgo founded the Assicurazioni Generali Austro-Italiche in 1831. His company provided insurances against risks of marine and land transport, flood, fire, and much more, hence the name GENERALI.  One of its notable employees was writer Franz Kafka who worked for Generali in Prague in 1907 and 1908. This is Generali's share number 1, issued in Trieste, 1832, and signed by Morpurgo. Lot 943 in the auction is a top item for any scripophily collector of insurance companies or Italian/Austrian finance history. 

Connoisseurs of British railway securities will be thrilled. More than 120 lots come from an old collection that illustrates the rich and pioneering history of British railways. Even if you are not into railway scripophily, this is an exceptional opportunity to check out this series (lot range 789 through 914). Let me mention here a few of these gems :

• L793 Blaydon, Gateshead & Hebburn Railway, stunning vignette; 
• from Ireland, L804 River Line, Cork Blackrock and Passage Railway; 
• L803 Clarence Railway, 1828!; 
• L809 Durham and Sunderland Railway, rare, wax seal;
• Another stunning vignette can be seen on a Liverpool and Manchester Railway certificate, 1826!, L845. 
• L877 comprises a share from as early as 1804 - eighteen hundred and four !!! - issued by the horse-operated Oystermouth Rail-Way or Tram-Road. This company commenced to carry passengers in 1807. 

The Monmouthshire Railway and Canal Company operated a canal and a network of railways in south-east Wales. It started as the Monmouthshire Canal Navigation and opened canals from Newport to Pontypool and to Crumlin from 1796. The unusual large vignette on this 1854 share transfer certificate shows a train and a horse-drawn barge nearing a canal bridge. Click to enlarge image, L869 in the auction. 

Auctioneer Boone provides an extensive catalog for this sale with every lot described in detail (download link see below). Among the nearly 1,700 antique securities you'll find hundreds of little masterpieces. Their designs reflects the art style in vogue and often include vignettes from illustrators. Some examples :

• L422 Comptoir de la Bourse de Bruxelles, illustrated by Charles Posch
• Constand Montald's work can be seen on L443, Grands Magasins à l'Innovation, Bruxelles 
• Oriental elements are abundant on L384 Société Foncière de Syrie
• L691 Gewerkschaft "Deutsche Nickel-Gesellschaft" displays a super mining vignette
• My favorite Art Deco share is the 100 Gulden share from the Nederlandsche Bakkerij-Centrale, Amsterdam, 1917, a work by Johan Rudolf Bonnet created before he went to live in Bali, L972

A little masterpiece is this 25 shares certificate from The Anatolian Rug Manufacturing Co. Ltd., Athens, dated 1924. Printed in multicolor by Aspiotis Brothers, banknote printers from Corfu, the share is adorned with oriental elements and shows carpet knotters at work. Despite their obvious activities, the scene is filled with silence. Click the image to enlarge, one of them noticed your attention. L924 in the sale

The catalog's comprehensive country index lists nearly 100 countries. In particular large sections (each containing between 40 and 250 lots) are Belgium, France, Germany, UK, Romania, Russia, Sweden, Australia, Netherlands Indies and the USA. Scripophily from less obvious, often exotic places, like British North Borneo, Iraq, Djibouti and Suriname is present as well.

Chile's Government Junta proclaimed Chile as an autonomous republic within the Spanish monarchy in 1810. Eight years later Chile declared its independency in 1818 which would only be recognized in 1844. The Anglo Chilian Mining Association, formed in London, 1825, is one of the earliest companies formed in the new state. L1519 in the auction.

It is impossible to mention all items in this sale, but there is a way to find out more about them. Here are the auction details :

• Location : Internet only
• Date : 4 April 2020
• Further info : 
• online catalog & bidding here, or via the Invaluable platform 
• PDF version of the catalog there 

F.L.

PS This auction also includes the first part of a unique collection of Indonesian scripophily (ca. 250 lots! ). Find out more about this here .

Boone's 64th auction catalog includes also an index of collecting themes (besides countries). The sports entry refers to more than 20 shares, including this French 1911 share in the Olympic Tennis Club de Wimereux, Boulogne-sur-Mer. Lot 610 

Reference Book : Stocks and bonds from the Corinth Canal

Not so long ago the Greek mainland was still connected to the Peloponnesus peninsula by a land bridge, 6.4 km wide, named the Isthmus of Corinth. When you sail, let's say, from Patras, in the northern Peloponnesus, all the way around the peninsula, to Piraeus, Athens' ancient navy base, you cover a distance of about 420 nautical miles, or 780 km. The same trip over land takes only 220 km. 

Roman emperor Nero was the first who started the construction of a canal through the narrow Isthmus of Corinth. He must have thought that transporting goods and troops from the Ionian coast cities to the ports on the Aegean Sea could go faster. It's hard to imagine now, but before, labourers, slaves, rolled boats on logs across the land to bridge the gap, so to speak. Nero's project started in 67 AD and employed thousands of slaves. When he died the next year, so did the project.

In Der Kanal von Korint, author Hans-Georg Glasemann brings the story of the Corinth Canal from both a historical and a financial angle. The shares and bonds issued by the three companies that built and operated the Corinth Canal are featured in the book's catalog section. The book, written in German, is aimed at the collector of old securities, and anyone who is interested in the historical background of this interesting canal project.

This is a detail from a vignette on a share from the Société Internationale du Canal Maritime de Corinthe. You can recognize the boot of Italy on the left, Greece in the middle and the Asian part of Turkey on the right. Dashed lines show the ancient sea routes around Greece. New routes running through a canal near the city of Corinth are marked by full lines. Note, when this share was issued in 1882, large parts of the Balkans, including the northern part of Greece, belonged to "Turquie", the Ottoman Empire. 

Here is an overview of the book's chapters :

• Historische Betrachtung
• Träume vom Korinther Kanal in der Antike
• Internationale Gesellschaft des Seekanals von Korinth 1882
• Griechische Gesellschaft des Kanals von Korinth 1890
• Neue Gesellschaft des Kanals von Korinth 1907
• Kanal von Korinth - heute
• Biografien
• István Türr (1825-1908), ungarischer Freiheitsheld
• Béla Gerster (1850-1923), ungarischer Ingenieur
• Ferdinand de Lesseps (1805-1894), französischer Diplomat und Kanalbauer
• Katalogteil
• Erläuterungen zu den Wertpapieren
• Société Internationale du Canal Maritime de Corinthe 1882-1890
• Société Hellénique du Canal de Corinthe 1890-1907
• Nouvelle Société Anonyme du Canal de Corinthe 1907-1980
• Literaturhinweise

Freely translated, these are the chapters in English :

• Historical consideration
• Dreams of the Corinthian channel in Antiquity
• International Company of the Sea Canal of Corinth 1882
• Greek Corinth Canal Company 1890
• New Corinth Canal Company 1907
• Channel of Corinth - today
• Biographies
• István Türr (1825-1908), Hungarian freedom fighter
• Béla Gerster (1850-1923), Hungarian engineer
• Ferdinand de Lesseps (1805-1894), French diplomat and canal builder
• Catalog section
• Explanations on the securities catalogued
• Société Internationale du Canal Maritime de Corinth 1882-1890
• Société Hellénique du Canal de Corinth 1890-1907
• Nouvelle Société Anonyme du Canal de Corinth 1907-1980
• References

Another vignette on the Canal Maritime de Corinthe share shows a cross section of the proposed project. The canal would be excavated at sea level requiring no locks. 

In the first part of the book, the author pilotes the reader through the canal's history. It starts more than 1800 years after emperor Nero's attempt, in 1882, when the Société Internationale du Canal Maritime de Corinthe initiated the excavation of the Corinth Canal. At the head of the company stood the hungarian István Türr (1825-1908). He appointed Gerster Béla (1850-1923), also a hungarian, as the project's chief engineer. The expenses grew bigger than planned and the company went bankrupt in 1890.

But the digging was continued by a new Greek company, the Société Hellénique du Canal de Corinthe, with success. The official opening of the canal took place in 1893 in the presence of King George I. In 1907 the Nouvelle Société Anonyme du Canal de Corinthe took over the canal exploitation until 1980. The canal's depth turned out to be insufficient for the large cargo ships of today. The canal is now a leisure attraction.

500 French francs share in the Société Internationale du Canal Maritime de Corinthe, 1882 
Catalog number KK-010, part of an issue of 60000 bearer shares of 500 francs 
image : eWertpapiermuseum EDHAC 

The book's catalog section groups the Corinth Canal securities by company and by issue. Entries include a catalog number, a value indication, an image, circulation and other details on the particular issue. Some more details about the book :

• Title : Der Kanal von Korinth - Historische Wertpapiere 1882-1977, in English : The Corinth Canal - Securities 1882-1977
• Author : Hans-Georg Glasemann
• ID : ISBN 978-3-74945-231-6, published by BoD - Books on Demand, Norderstedt, 2019 
• Languages : German
• Number of pages : 60
• Images : over 40 color images, mostly from securities, including some black and white pictures
• Index : no index, but companies and securities are organized in the catalog section by company and issue

The designer of the Canal Maritime de Corinthe share clearly invested some time in researching the ancient city-state of Corinth. The columns drawn on both sides of the print are typical Corinthian with capitals decorated with acanthus leaves. The coins placed on both columns are actually both sides of a Corinth Stater, ca 345-307 BC. The obverse shows a flying Pegasus with a Koppa sign Ϙ below its belly. The Ϙ is used in the archaich spelling of the city name Ϙόρινθος (Korinthos). The reverse shows the goddess Athena with an upward tipped Corinthian helmet.  

image : via Wikipedia, Classical Numismatic Group, Inc.

Hans-Georg Glasemann's work can be ordered from BoD in print and as an E-book, here. The book is part of a trilogy on historic canals. The second book, about the Panama Canal, appeared just recently. The third one will cover the Suez Canal. 

F. L. 

PS : 
Hans-Georg Glasemann maintains his own blog about antique securities. 
Please check his Nonvaleurs Blog 

The Drumm Ottoman Collection comes up for sale

For the first time in its existence THE reference collection of Ottoman and Turkish scripophily is going to be auctioned. The event takes place on 15 September 2018 and is organized by HWPH Historisches Wertpapierhaus AG. Place to be is Würzburg, Germany. 

This 1894 specimen bond from the Smyrna Cassaba railway is one of the 274 certificates from the Drumm Collection. The Ottoman Government sold the Smyrna Cassaba concession to Georges Nagelmackers, founder of Wagons-Lits, known for the Orient Express trains. 

Ulrich Drumm gathered over several decades the collection of 274 certificates from the Ottoman Empire and the Turkish State. It will be sold as a single group lot, lot 682 in HWPH's upcoming September auction. The collection formed the basis for the Drumm, Henseler, Glasemann catalogue Ottomanisches Kaiserreich und Türkei - Aktien und Anleihen, 1854-1938. The catalogue has been the standard work for Ottoman scripophily collectors since its year of publishing. 

Drumm founded Freunde Historischer Wertpapiere in 1974 with Alfons W. Henseler. This company specialized in auctions for antique stocks and bonds. FHW also started the publication of a magazine for collectors, the Zeitung für Historische Wertpapiere. 

Between 1975 and 1986 Drumm's company launched the Historische Wertpapiere series of reference catalogues. After publishing volumes on "Russian Railways", "Chinese Shares and Bonds", "Russian City Bonds" and "Austrian Railways", Vol 5 "Ottoman Empire and Turkey" appeared in 1983. The last volume in the series included "Italian Railways".

This certificate is illustrated and identified in the Drumm catalogue under entry TR1265c. Issued in 1910, Constantinople, it is an extremely rare 10 shares certificate from the Banque de Turquie pour favoriser le Commerce et l'Industrie.  

In the 19th century the Ottoman Empire included for some time parts of the Balkan, Greece, Palestine, Syria, Iraq, Egypt and Algeria. The Société du Chemin de Fer Ottoman de Jaffa à Jérusalem et Prolongements issued this 500 Francs bond in 1894. This is one of the certificates that Drumm added to the collection after the catalogue appeared.

Auctioneer Matthias Schmitt has high expectations of this exceptional collection. Included are many rare and important securities from the Ottoman Empire and the early Turkish state. More, after the publication of the book, Drumm extended the collection. Schmitt adds :

Just take these three examples (illustrated in this post), the combined value of these three certificates alone already make up for 20% of the ask price.

A detailed list of the items (lot 682) is available on request from the auctioneer :

• Further info : HWPH's 50th Public Auction, see here, the Drumm Collection, see there  
• Location : Würzburg, Germany
• Date : 15 September 2018 

F. L.

Reference catalogue : Les Tramways Belges

• Title : Les Tramways Belges - Catalogue des Titres de Sociétés Belges de Tramways dans le Monde, in English: Belgian Tramway Companies - Catalogue of Belgian Tramway Companies in the World
• Author : Luc de Voghel, Alain Roba
• ID : no ISBN number; published 1986 by Alain Roba
• Languages : French
• Number of pages : 71
• Images : over 220 small black and white images
• Index : 1. Chronological (main classification), 2. Geographical classification,

This book is the work of two Belgian pioneers in scripophily : Luc de Voghel and Alain Roba. The work consists of a list of Belgian tramway companies operating in Belgium and abroad and their bonds and shares. Bearing in mind that the list was compiled 37 years ago, it counts more than 150 of such companies. More than 220 certificates are depicted in, according to our modern standards, a not so good quality. Interesting to know, entries were derived from the collections of both authors, but also from another scripophily pioneer : collector Erik Boone.

The companies mentioned were operating in the following countries : Argentina, Belgium, Bulgaria, China, Czechoslovakia, Egypt, France, Germany, Greece, Hungary, Italy, Netherlands, Persia, Poland, Rumania, Russia, Siam, Spain, Tunisia, Turkey, Yugoslavia. 

The work concludes with an overview of Belgian tramway companies whose certificates were not surfaced yet on the collector's market at the time (1986). 

F.L.

Do you know what type of collector you are ?

Are you a mixed type or not ? Simply replace the word 'coin(s)' with 'scripophily' or 'certificate(s)' in this great article written by Ursula Kampmann. I am sure you will find some of your collecting friends described or even yourself. I'm looking forward to your reactions and comments !

The Nine Types of Coin Collectors
written by Ursula Kampmann
by courtesy of CoinsWeekly, Ursula Kampmann
copyright the MoneyMuseum, Dr. Jürg Conzett

You will find them everywhere in their natural surroundings: at coin shows, auction sales, in coin shops, at the flea market... But, there is only very few information about the genus of coin collector. It seems to form a part of the biological family of collectors, which for its part belongs – without any doubt – to the human beings. This is the first attempt to describe the nine hitherto known species of coin collectors.

Bank notes and coins depicting King George VI
detail from a certificate of
The National Finance Of India Ltd

The sex of the collector

The typical coin collector is male. There is at the most one serious female collector for every 1000 male collectors. Nobody has yet found a sensible explanation for why that should be so. Let us try therefore to find one by going back into the dim and distant past. In his hunt for the one and only coin that he wants for his collection, the man becomes the prehistoric hunter in search of prey. He wants to look out for, hunt and kill his prey and then take it back home. What happens after that does not interest him. He places the coin he has captured in a box where there are already many other coins which in past years spurred on his hunting instinct. His pleasure in collecting lies, with few exceptions, (compare the Self-exposer, the Researcher and the Historian) not in possessing something, but in the hunt.

Reference catalogue : Ottoman Empire and Turkey, Share certificates and Bonds, 1854-1938

• Title : Historische Wertpapiere, Band V, Ottomanisches Kaiserreich und Türkei - Aktien und Anleihen, 1854-1938
• Authors : Drumm, Henseler, Glasemann
• ID: without publication number, published by Freunde Historischer Wertpapiere, 1983
• Languages : German, introductions also in English and French
• Number of pages : 237
• Images : black & white, on average 1 per 2 pages
• Indexes : alphabetic, but main ordering consists of 2 sections : 1. shares (by date), 2. bonds (by date)

This catalogue includes certificates from private companies and issued by the Ottoman state.

The Lesbos coins

Lesbos, also known as Emerald Island, counts 320 kilometers of coastline. It is quite forested, has 2 mountain peaks and 2 large gulfs. Separated by the Mytilini Strait, Turkey is less than 10 miles away. Modern tourism in Greece only started to take off in the 1950s. The Lesbos Tourism Company, T.E.L., was incorporated in 1956 with its head office in Mytilene.

The Greek coins in the design of the company's shares, suggests the company wanted to promote the rich ancient inheritance of the island. Having collected coins as a child, this share certificate immediately drew my attention. Were these ancient Greek coins genuine or not ?

Mytilene, the capital of the island since the Greek classical period, was famous for its production of electrum coins that were struck from the late 6th through mid 4th centuries BC. Electrum is a natural alloy of gold, silver and other metals (a good conductor of electricity), but it was also produced artificially. For coinage electrum was preferred above gold because it was harder and more durable, and because techniques for refining gold were not known every where in the ancient world. The city of Mytilene used electrum with a gold composition of about 43%.

Further research on the depicted coins did not yield a quick result. So I asked the help of two numismatic experts : Mrs Dane Kurth, http://www.wildwinds.com/, and Mr Doug Smith,  http://dougsmith.ancients.info/.

Both were so kind to share their findings: thank you !  This is what they came up with independently from each other:

The head of Apollo on the obverse and the lyre on the reverse are common types from Mytilene. They were made in silver and bronze with that design over a long period. Many varieties are known.

This AR Stater from Mytilene dates around 350-250 BC.

So far for the similarities. What about the differences ?

Dane  :

There are coins with 'MYTI' (upwards) combined with either some small symbol or a letter or monogram in the right field (like the M in the example of the certificate), but not with 'MYTIL'.

Doug :

I do suspect that the artist for the engraving thought it would be more clearly a coin of Mytilene if the letters were rearranged all in one line. The fact that I have not seen a coin exactly like that one does not mean it did not exist.

Conclusion! The coins on the certificate are clearly derived from real ancient Mytilene coins. The engraver changed the legend a little to emphasize the link with Lesbos, and if he didn’t ... , then he probably used the design of a real coin that is probably extremely rare.

F.L.

related link : http://www.acsearch.info/record.html?id=184980