Roma Numismatics 2 2

[Greenstang]

Any one familiar with the London based auction house Roma Numismatics?    They have been bad boys

https://www.coincommunity.com/go/link.asp?target=https://news.artnet.com/art-world/roma-numismatics-coin-dealer-richard-beale-arrested-fake-provenance-2269635

[J P M]

On 3/28/2023 at 4:20 PM, Greenstang said:

Any one familiar with the London based auction house Roma Numismatics?    They have been bad boys

https://www.coincommunity.com/go/link.asp?target=https://news.artnet.com/art-world/roma-numismatics-coin-dealer-richard-beale-arrested-fake-provenance-2269635

Wow RWB just posted about a coin like this on the 15th for the Ides of March.

[RWB]

From Artnet News --

"The Dealer Who Sold the World’s Most Expensive Coin Has Been Arrested for Falsifying the $4.2 Million Artifact’s Provenance"

"An ultra-rare Roman coin set a world record when it was auctioned off for nearly $4.2 million three years ago. But now, the validity of that record is under question after an investigation revealed that the artifact and others were sold with forged provenance certificates, according to a report from ARTnews.

The record-setting coin, called the “Eid Mar” (or “Ides of March”), was minted in 42 B.C.E. to commemorate the assassination of Julius Caesar and is just one of three known examples cast in gold. 

"Offered at an October 2020 event held by the London-based auction house Roma Numismatics, the coin carried a £500,000 ($650,445) presale estimate. Also featured in the sale was a 2,400-year-old Sicily Naxos coin, which fetched $291,682.

But a probe spearheaded by the U.S. Homeland Security Investigations (HSI) agency found that both coins were offered with falsified provenance documentation. Richard Beale, Roma Numismatics’s owner and managing director, was arrested in New York earlier this year for his role in orchestrating the fraudulent scheme.

"Beale now faces charges of grand larceny in the first and second degree, criminal possession of stolen property in the first and second degree, conspiracy in the fourth degree, and scheme to defraud in the first degree."

Article continues on original site.

https://news.artnet.com/art-world/roma-numismatics-coin-dealer-richard-beale-arrested-fake-provenance-2269635

Edited March 29, 2023 by RWB

[RWB]

PS: The Eid Mar coin is not as rare as the design I posted. Why it generated a price of $4.2 million escapes me.

[J P M]

On 3/29/2023 at 9:44 AM, RWB said:

PS: The Eid Mar coin is not as rare as the design I posted. Why it generated a price of $4.2 million escapes me.

  I do auctions all the time and sometimes the bidders just get caught in a bid loop and it just goes way above its value. It happens on lowball coins and gold all the time. 

[Foofaraw]

It's a significant blow to the numismatic community. Authenticity and provenance play a crucial role in determining the value and historical significance of ancient coins. I'm just a college student so I don't have enough knowledge on this topic, and, honestly, the most of my tasks were done by this source https://assignmentbro.com/ca/criminal-law-assignment-help , but I think it is essential that collectors and buyers exercise caution and thorough research to ensure the integrity of their purchases. This incident underscores the need for increased scrutiny and regulation within the coin market to protect both collectors and the integrity of ancient artifacts.

Edited June 29, 2023 by Foofaraw

[VKurtB]

On 3/29/2023 at 8:44 AM, RWB said:

PS: The Eid Mar coin is not as rare as the design I posted. Why it generated a price of $4.2 million escapes me.

Yup, and Dr. William Sheldon (of Penny Whimsey fame) stole 129 large cents from the ANS too, and some are being returned from the Husak sale. If you’re searching for virtue and honesty, you’re in the wrong field. 

[Henri Charriere]

On 6/14/2023 at 12:43 PM, VKurtB said:

.... If you’re searching for virtue and honesty, you’re in the wrong field. 

No more so than in any other field of endeavor. Too numerous to mention.  Most of the time, nothing happens until something does. Why would anyone question a Bernie Madoff?  You can exercise due diligence and stick to reputable firms but what you'd like to know, very often, is available on a "need-to-know" basis only. Some things that are too good to be true, really are; others, with hindsight, are not. Much of the time, a win-win, is limiting one's exposure thereby limiting one's losses.