1792 Lyon Convention Medal by Galle. Mazard-319. Silver, 39.2 mm. SP-61 (PCGS).

667.1 grains. Struck in medal turn. One of the rare occasions when this firm can say, in nearly 90 years doing auctions, that we have only handled one of these before. Said to be one of only two known, the other was offered by Bill Anton in the July 1967 issue of Numismatic Scrapbook, described as "a hundred times rarer than a silver Libertas Americana medal" and was also offered in our (Stack's) May 1991 auction, where it hammered for $19,000. The provenance of this piece as traced by Mr. Margolis includes such notables as Count Ferrari and King Farouk. The surfaces of this piece bear a familiar Farouk appearance, with light polish and concomitant hairlines together with some traces of old lacquer. Toning has developed around the peripheries and design elements, and reflective luster remains in the fields. Some natural planchet roughness is seen in the lower left obverse field (a byproduct of the challenges inherent in casting such a substantial silver flan in this era), and a short scratch connects the top of the head to N of FRANCOISES. This medal was prepared for the National Convention of Artists held in Lyon, France in 1792. Its relationship to America may seem tenuous, but its obverse homage to Dupre's Libertas Americana medal, then not yet 10 years old, makes clear the high esteem with which Dupre's production was regarded. The bell metal (metal de cloche) specimens are scarce and frequently flawed. A silver piece like this is a distinctive and charismatic rarity, one with great historic interest, iconic aesthetic appeal, and as historic a provenance as a medal can have.

From the Richard Margolis Collection. Earlier from the Fabre Collection; Count Ferrari de la Renotiere Collection; acquired en masse with the Count Ferrari Collection of French coins by Virgil Brand, via Jacques Schulman, 1924; Virgil Brand Collection; Brand Estate; King Farouk of Egypt; Sotheby's sale of the Palace Collection of Egypt, February 1954, lot 2174; Emile Bourgey's sale of November 1983, lot 291.

Estimate: $5000