From the Grading Room: NGC Ancients Certifies Charming Carthaginian Coin

Numismatic Guaranty Company® (NGC®) recently graded a rare ancient coin struck by the Carthaginians as they fought to maintain its power in Sicily at the beginning of the Punic Wars. The Silver 5-Shekels is graded NGC Ancients Ch XF★, 5/5 Strike and 4/5 Surface with Fine Style.

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Located in what today is Tunisia, the Phoenician colony of Carthage grew into a regional powerhouse. The first Carthaginian coins were apparently struck around 410 B.C. to pay for military operations in Sicily, the fertile island which for centuries was a battleground between Carthaginians and Greeks.

A century and a half later, Carthage found itself at war with a new rival for power in the Mediterranean: Rome.

As the Roman Republic gained ground in the Italian peninsula, the Romans saw an opportunity to secure a foothold in Sicily when mercenaries who’d taken over the city of Messana appealed for their help. A Roman force landed in 264 B.C., touching off 23 years of devastating warfare, during which this impressive silver coin was struck. The war ended with the Romans annexing Sicily.

The Second and Third Punic Wars, fought over the next century, ended in the destruction of Carthage and secured Roman domination over the Western Mediterranean.

Coins like this Silver 5-Shekels were issued during the First Punic War, as Carthage needed to hire mercenaries to fight the Romans, principally in Sicily. While it has roughly the same diameter as a Morgan Dollar, this example, at 38.17 grams, is about 43% heavier.

The obverse of the coin shows the head of a female figure, likely Tanit, the main goddess of Carthage. The reverse shows Pegasus, the winged horse of Greek mythology. Scholars have long discussed the meaning of the Punic inscription on the reverse, which is believed to be "in the land", perhaps in reference to Carthage's longstanding ties to Sicily and its right to thwart Roman aspirations there.

This coin fetched nearly $200,000 (with buyer’s premium) at Noonans Auction 306, held in London on September 25, 2024. It was then submitted to NGC Ancients for its expert grading services. Nearly 61 years prior, this coin sold in London at an auction conducted by Glendining & Co. on December 13, 1963.