Naxos
Tetradrachm circa 410-405, AR 16.75 g. [ΝΑΞΙΩΝ] Wreathed head of Dionysus r. Rev. Nude and bearded Silenus seated l. on wine skin, head l., holding cantharus in r. hand and ivy branch in l.; half empty wine skin draped over l. leg, in l. field, ivy branch. Jameson 678 (these dies). Gulbenkian 233 (these dies). Kraay-Hirmer 12 (these dies). Cahn, Naxos 106.
Exceedingly rare, only four specimens cited by Cahn and possibly half a dozen known.
A very interesting and important issue with a lovely old cabinet tone.
Minor areas of corrosion, otherwise very fine

Ex Lanz 40, 1987, 98 and New York XXVII, 2012, Prospero, 151 sales.
This Naxian tetradrachm reproduces the same types of the older tetradrachms but has updated them in terms of artistic style to reflect the growing influence of Syracuse and the period of the great signing engravers in Sicily. The obverse treatment of Dionysus’ head is very similar to that of Arethusa on contemporary tetradrachms of Syracuse except of course that here the god wears an ivy wreath, while on the Syracusan issues Arethusa wears a type of hair band. The reverse type depicting Silenus has also been updated to present a more naturalistic representation of Dionysus’ faithful companion. Whilst the artistry of this coin reflects the influence of Syracusan engravers, it was struck at a time when Naxos was very much at odds with Syracuse. The Naxians had strongly supported the Athenians during their failed expedition against Syracuse in 415-413 BC and indeed coins like this tetradrachm may have been produced in part to finance the war effort. Once Athens had been fully defeated by Sparta in 404 BC, Dionysius I, the new tyrant of Syracuse, took revenge on Naxos by ordering the slaughter of the male citizens and selling the women and children into slavery. The city was destroyed and its territory was given over to native Sicels.