It must have been a slow news day in Traverse City, MI. The Record-Eagle published a story about a man's sidewalk find of what looks like a Syracuse Dekadrachm. The
crazy possible value estimates are just what Jeff Garrett discussed in his article last week. But a local dealer set everyone straight with an excellent no-nonsense response.
A coin found on a sidewalk in Traverse City could be worth thousands of dollars if it is the genuine article.
Traverse City Police Sergeant Matt Richmond said dispatch received a call Wednesday that someone had found a coin on the sidewalk along Eighth Street near a construction site.
The person said the coin looked valuable.
Although detectives have not yet determined exactly what coin it is, Richmond conducted an image search online and found that it is possibly a Syracuse Dekadrachm, an ancient
Roman coin that was in circulation between 405-380 B.C.
A worn Syracuse Dekadrachm can fetch the owner about $3,000 if it is authentic, according to CoinQuest. The average circulated Syracuse Dekadrachm is worth about $4,000 while a
well-preserved version of the coin is valued at $6,000. Other versions have been bought for far more at auction, including one for $437,000 in 2013 and another for more than
$340,000 in 2014, according to Coin Week.
The odds of this particular coin being the real deal aren’t great, said Steven Garvin, owner and operator of Honor Coin & Stamp in Traverse City. Garvin, without having
seen the coin, estimated there is a 25 percent chance it is a true ancient coin.
“I guess it’s possible,” Garvin said, “but I have a box behind my desk that says ‘NFG’ on it. Stands for ‘No ----- — good.’ There’s a lot of stuff in there, and those ancients
are a lot of the stuff you see that’s no good.”
Richmond said the police department will keep the coin in evidence. If it is not claimed within six months, the person who found it can claim it. If that person does not claim
it, Richmond said the coin is likely to be destroyed.
To read the complete article, see:
Police: Possible rare coin found
To read the earlier E-Sylum article, see:
LOOSE CHANGE: SEPTEMBER 8, 2019 : What to Do with Inherited Coins
Wayne Homren, Editor
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