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Coin Found in a Field Sells for $695,000

It was discovered by a metal detectorist.

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A rare Roman gold coin dating from AD 293-296 sold for about $695,000 at an auction held by Dix Noonan Webb, the London-based international coin, medal, banknote and jewelry specialists.

The coin, found in a newly plowed field in Kent, England, had been estimated to fetch between $88,000 and $125,000.

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It was bought by private collector bidding on the telephone.

The coin, known as an aureus — a gold coin of ancient Rome — is relatively small: only 4.31 grams and slightly larger than a current penny. Dating from the reign of Allectus, it was found by a 30-year-old metal detectorist and his brother near Dover in March this year, adjacent to a Roman road.

The detectorist, who has followed the pursuit for seven years, wishes to remain anonymous but commented after the sale: “I cannot believe it, we are ecstatic! 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!”

Christopher Webb, director and head of DNW’s coin department, said: “I am delighted with the phenomenal price achieved in today’s sale. This is the most expensive coin that we have ever sold at Dix Noonan Webb – as well as being one of the world’s most expensive Roman coins, 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. It was a unique opportunity to acquire a stunning coin and the only other one known struck from the same pair of dies is in the British Museum.”

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He continued: “There are only 24 aurei of Allectus known worldwide. Gold coins were initially produced to pay an accession donation in AD 293 but continued to be issued throughout his reign and were probably demonetized after his death in AD 296, as no coins of Carausius or Allectus are found in later hoards.”

Allectus is described as the minister of finance, praetorian prefect, ally and co-conspirator under the usurper Carausius. This new independence of Britain was based on a strong naval force of at least two fleets controlling the English Channel and the North Sea.

As a result of the loss of Boulogne in Gaul on 1 March AD 293 to the emperor Constantius Chlorus, it is believed that Carausius was then murdered by Allectus. Little is known from historical records about Allectus; his name in Latin translates as chosen or elected, but his well-produced coinage indicates a smooth transition and the issue of a new denomination, decorated with a series of war galleys as the reverse design which was seen as innovative.

In early AD 296 Constantius, together with the praetorian prefect Julius Asclepiodotus, sailed in two separate fleets, one from Boulogne, the other from the mouth of the Seine, which slipped past the Allectan ships waiting by the Isle of Wight (Vectis) in a sea fog. Allectus was defeated and killed in a land battle, probably in Hampshire, by Asclepiodotus, and Constantius arrived in London to reclaim Britain.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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4 Dead After Jewelry-Store Robbery Leads to Police Chase and Shootout (Video)

2 suspects were killed, along with a UPS driver and a bystander.

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A jewelry-story robbery in South Florida led to a police chase and shootout that left four people dead, The Associated Press reports.

Police responded to a silent alarm just after 4 p.m. at Regent Jewelers in Coral Gables. Officers arrived to find shots being fired, with two suspects still on site, according to AP.

The robbers took off in a truck and shortly afterward carjacked a UPS truck, authorities said. A harrowing police chase ensued, continuing for 20 miles and ending at a busy intersection in Miramar.

When police approached the UPS truck, a shootout erupted, leaving the two suspects dead, along with the UPS driver and a person described as an “innocent bystander” in a nearby vehicle, AP reports.

“We have just began to process the crime scene,” FBI Special Agent in Charge George Piro was quoted saying. “As you can imagine, this is going to be a very complicated crime scene.”

A jewelry-store employee was reportedly injured, but it’s unknown whether she was shot. It’s also unknown what, if anything, was taken from the store.

Read more at The Associated Press

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Truck Slams Jewelry Store in $200,000 Burglary — Watch the Video

The culprits left the vehicle at the scene.

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Burglars slammed a truck into a jewelry store in Los Altos, CA, and took $200,000 worth of merchandise, police say.

Marcel Jewelry Design was targeted early Monday morning, ABC 7 reports.

The stolen truck rammed the front window of the store three times, finally making it through. The burglars got out and broke jewelry cases with a hammer. They left after less than a minute.

The truck was left at the scene.

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Jewelers Report Bright Start to the 2019 Holiday Season

Thanks to higher average tickets and solid foot traffic.

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INDEPENDENT JEWELERS ACROSS the country reported a strong start to the 2019 holiday season with one in three saying they were ahead of last year’s numbers thanks to higher average tickets and solid foot traffic, especially on Small Business Saturday.

“Customers started shopping earlier, which is a blessing considering the shorter holiday this year,” said Rick Nichols, owner of Nassau Jewelry in Fernandina Beach, FL.

Dennis Petimezas, owner of Watchmakers Diamonds & Jewelry in Johnstown, PA, said he noticed some caution among early shoppers but they are “bringing in the big-ticket items when they do make a decision.”

More than a third of the jewelers who answered our first 2019 holiday season mini survey reported an average sale that was in excess of $600, while 37 percent said it was up from last year. Only 9 percent of jewelers said their average ticket was down. Diamond fashion jewelry, particularly diamond stud earrings, was selling well.

While only a small portion of jewelers described the start to the vital holiday period as “disappointing” (12%) or “dismal” (2%) few were getting ahead of themselves. Increased competition, especially from big online retailers such as Amazon, means most jewelers are expecting to put in some long shifts over the next four weeks, while offering extra personalized service. Then there are the vagaries of the weather.

“This is my 45th year and it’s always unpredictable,” said Larry W. Hall, owner of Baker & Baker Jewelers in Marietta, OH. “I have ‘jacked up’ my staff on the attention-to-detail factors, i.e., look into the customer’s eyes often and, anyone walking in is greeted in seconds. I am looking at the security camera to see if we I recognize the customer to possibly greet them by name … ‘Hello, Mary and Jim!’ Happy holidays…’ and I offer to clean their jewelry and now our sales staff has a captive audience to sell to.”

The first 2019 Holiday Season Mini survey was taken by more than 100 independent jewelers who are part of our Brain Squad readers group. We will send out more surveys over the course of the holiday season. Look out for the results each Tuesday.

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