Kenneth W. Dorney

Auction 10

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Kenneth W. Dorney, Auction 10

Ancient Coins and Antiquities

We, 08.07.2020, from 07:00 PM CEST
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Description

Nero, 54 - 68 AD Gold Aureus, Rome Mint, 18mm, 7.09 grams Obverse: NERO CAESAR AVGVSTVS, Laureate head of Nero right. Reverse: IVPPITER CVSTOS, Jupiter seated left holding thunderbolt and scepter. RIC 52 // WCN 25 // Calico 412 // BMCRE 67-73    In 1985 Vincent Caterino and his son Miguel founded Marco Numismatics, a telemarketing company specializing in selling ancient coins. For three years they sold coins to investors, with Twelve Caesars sets their focus. According to news reports (and not numismatic sources, so numbers may be inaccurate) they sold sets worth $3,000 for $28,000. Common denarii worth $35 at the time they were selling for $600. Part of their sales pitch was that if investors wished to sell they would do so on their behalf, which apparently never happened. In 1989 the federal government indicted them and five of their employees on charges of conspiracy, mail and wire fraud and defrauding five hundred customers out of $6 Million. They were convicted of the charges and Vincent was sentenced to 13 years in prison and restitution of $500,000. His son was given a nearly six year sentence and $30,000 restitution.   According to his lawyer, the elder Caterino simply could not see what was morally wrong with what he did. While the convictions held, further appeals did reduce the sentencing for these criminals. The coin offered here was sold by this company.  With ANACS photo certificate.    

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Starting price 1'000 USD
Estimate 2'000 USD
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