Nomos 31 – The El-Greco Collection of Modern Greek Rarities

By Alan Walker & Dimitrios Gerothanasis

Nomos, in conjunction with the well-known auction firm of A. Karamitsos in Thessalonica, is proud to present its first auction devoted solely to modern coins; but what coins they are! Built up during the last three decades of the 20th Century, the El-Greco Collection is one of the finest specialized collections ever formed of the coins and patterns of Modern Greece, including the Ionian Islands and Crete. It is, in fact and without exaggeration, the most important to appear on public sale since the “collection” of the late Dimitri Loulakakis was sold by Spink’s in London in 1979. So here are a few very selected highlights…

Lot 95; Greece. Otho (1832-1862). 5 Drachmai, 1845, Athens, struck from dies by Carl Friedrich Voigt, reeded edge. NGC “MS 63” Estimate: 37,500 CHF.

This (lot 95, Starting Price 30000 CHF) is the 1845 5 Drachmi struck in Athens from dies by Voigt, and is one of the rarest of all the coins of King Otho struck for general circulation. It is also in superb condition, graded “MS 63” and is “Top pop” in both NGC and PCGS. It was acquired by El-Greco, in Schweizerischer Bankverein Auction 9, on 30 January 1980, as lot 663.

Lot 104: Greece. Otho (1832-1862). Pattern 10 Lepta, 1847, (Large Crown Pattern), Athens, struck from dies by K. Lange, plain edge. Unique. Cancellation mark on reverse, otherwise, uncirculated. Estimate: 50,000 CHF.

This seemingly simple bronze coin is actually a unique, large-crown pattern 10 lepta. Struck from dies by K. Lange in Athens in 1847 (lot 104, SP 40000 CHF), this apparently unique and important coin was once also in the collection of D. Louloukakis. This is one of the very few modern Greek coins which is known from just a single example!

Lot 126: Greece. Otho (1832-1862). 20 Drachmai, 1852, Athens, struck from dies by K. Lange, reeded edge. Graded by NGC „MS 62“. Unique. Estimate: 625,000 CHF.

Here is the cover coin of our hard-bound catalog, the immensely rare gold 20 Drachmai minted in Athens in 1852 (lot 126, SP 500,000.-), one of the rarest of the rare! It is considered to be the “The Holy Grail of Modern Greek Coins”, as only three, including this example, are known to be available to private collectors. Regardless to mention that any collection of modern Greek coin that owns this coin, is a league of its own. It has been graded “MS 62”, and is, of course, Unique in the population report of both NGC and PCGS.

Lot 159: Greece. Georgios I (1863-1913). Pattern 100 Drachmai, 1875, Paris, struck from dies by Albert-Désiré Barre, reeded edge. This pattern extremely rare, with fewer than five known specimens worldwide. Graded by NGC “PF 63 ULTRA CAMEO”. Estimate: 187,500 CHF.

Let’s now turn to the reign of Georgios I (1863-1913) and to a stunning gold pattern of 100 Drachai 1875 struck in Paris from dies by A.-D. Barre (lot 159, SP 150,000 CHF). Both a great rarity (only 5 examples are known) and a beautiful proof, graded “PF 63 ULTRA CAMEO” and as expected Top pop in both NGC and PCGS. This pattern, holds until today the record of the most expensive modern Greek coin sold in the last three decades. It appeared in Schweizerischer Bankverein Auction 9, on 30 January 1980 as lot 741 and was published by Tzamalis in 1977.

Constantine I was the eldest son of Georgios I and came to the throne following his father’s assassination in 1913. He reigned twice; his first ran from 1913 to 1917 when he was forced out by Venizelos and replaced by his second son, Alexander. The new king, instead of marrying into foreign royalty, married an aristocratic Greek girl, Aspasia Manos (her mother was an Argyropoulos); unfortunately, in 1920, a year after the marriage, Alexander was bitten by a monkey, his wounds became septic due to improper treatment, and he died. Shortly thereafter Constantine I regained the throne (19 December 1920-27 September 1922), but was forced out once again as a result of the disastrous ending of the Greek invasion of Asia Minor.

The coin (lot 199, SP 80,000 CHF) is a Unique Gold pattern of 1 Drachmi 1915, struck from dies by K. Demetriadis and A.-D. Barre. It is, like so many coins in the collection, of great rarity, and has been graded “PF 65”. It is Unique in the Population Report both NGC and PCGS. It was once in the Loulakakis collection who acquired it in the Schulman Auction on 24 October 1963 as lot 1201.