Lucca (1208-12) grosso d'oro Fr-483
The first specimen was lot 3375 in Goldberg sale 85 (Los Angeles, June 2015), where it sold for $129,250. The catalog description[1] noted,
"Italian States: Lucca. Grosso d'oro, ND. Issue in the name of Otto IV (post 1209) and issued under the authority of Frederico II, 1190-1250. Obverse. Monogram traditionally identified as that of Otto, the three pellets above the cross-bar. Legend: .OTTO.REX. Reverse: The Volto Santo to left. Legend: S. VVLT'. - D. LVCA. Of the greatest rarity. NGC graded AU-58.
Otto was the third son of Henry the Lion, Duke of Bavaria and Saxony, and the grandson of King Henry II of England. In 1190, he became the foster son of Richard I of England, who was his maternal uncle. Holding a friendly relationship with the English royal family ensured Otto with solid political and financial support in his later career. Richard attempted to enhance his personal benefit as well as Otto's political importance by offering him the Earldom of York, later by negotiating Otto's marriage with Margaret, daughter and heiress of King William of Scotland, but both failed. In 1196, Richard enfeoffed Otto with the county of Poitou. After the death of Holy Roman Emperor Henry VI, Otto was elected as the successor by the princes opposing Henry's brother, Philip of Swabia, and the Staufen dynasty. However, even with the foreign supports from England and Pope Innocent III, Otto suffered some major failures in civil military campaigns and was about to be defeated, until Philip's dramatic assassination in 1208. Otto was then crowned as Holy Roman Emperor and King of Italy. His ambition in Italian states and Kingdom of Sicily broke his relationship with the pope, he was soon excommunicated by Innocent III. Meanwhile, German nobles started to complain about his senseless activities in Italy, leaving the northern part of the empire undefended. His former allies now turned to Frederick II, son of Henry VI and another potential candidate to the throne. Otto remained his power until 1214, and after the united army of Otto and King John of England was defeated by Philip II of France, Otto had to abdicate the imperial throne in 1215. Even though indicated as an issue bearing Otto's name, but under the authority of Frederick (as listed in the Friedberg catalog), we are still not certain if that is the case due to the uncertainty of the actual issue date. Bearing the inscription of "King Otto" (OTTO.REX), the coin was probably struck during Otto's reign as King of Italy between 1208 and 1212.
The silver coins of Otto in Luc[c]a are usually available in the market, while the gold issues are extremely rare. Due to lacking of mining resources, almost all early European gold coins of this era are rare. This issue was probably an unsuccessful competitor against the Augustalis, Florin and Ducat issued as crusader trade coins, and abandoned immediately. We have not seen this type to be offered in the public market in [recent] decades, and this present piece is probably the finest example among very few survivors. A historically important piece that shows the proof of Otto's short reign in Italy, and therefore very desirable."
The second specimen was lot 1118 in Sincona sale 50 (Zürich, October 2018), where it sold for 130,000 CHF (about US$156,806 including buyer's fees). The catalog description[2] noted,
"Lucca. Republik. Fiorino oder grosso d’oro o. J. Geprägt 1209-1315 im Namen von Otto IV. •OTTO• - •REX• Ottomonogramm, drei Kugeln im Zentrum oberhalb der Linie. Rv. •S•VVLT’• - •D’LVCA• Gekrönte und bärtige Büste Christi nach links. 3.58 g. MIR 120. Bellesia 1. CNI XI,74,2. Fr-483. Von grösster Seltenheit. Prachtexemplar. Vorzüglich. Exemplar der Auktion Morton & Eden, London 28.11.2006, Nr. 494. (republic of Lucca, undated gold florin, struck about 1209-1315 in the name of Otto IV. Obverse: king's monogram, three dies over the central line; reverse: crowned and bearded bust of Christ facing left. Of the highest rarity, Cabinet piece, Extremely fine.)
Otto war der dritte Sohn von Heinrich dem Löwen, Herzog von Bayern und Sachsen, und der Enkel von König Heinrich II. Von England. Im Jahre 1190 wurde er der Pflegesohn von Richard I. von England, der sein mütterlicher Onkel war. Eine freundschaftliche Beziehung zur englischen Königsfamilie sicherte Otto eine solide politische und finanzielle Unterstützung in seiner späteren Karriere. Richard versuchte, seinen persönlichen Nutzen sowie Ottos politische Bedeutung zu erhöhen, indem er ihm die Grafschaft York anbot und später Ottos Ehe mit Margarethe, Tochter und Erbin von König Wilhelm von Schottland, aushandelte, aber beide Versuche scheiterten. 1196 belehnte Richard Otto mit der Grafschaft Poitou. Nach dem Tod des Kaisers Heinrich VI. Wurde Otto von den Fürsten gegen Heinrichs Bruder Philipp von Schwaben und die Staufen-Dynastie zum Nachfolger gewählt. Im Jahr 1208 Otto wurde zum Kaiser des Heiligen Römischen Reiches und König von Italien gekrönt. Durch seinen Machtehrgeiz in den italienischen Staaten und im Königreich Sizilien kam es zum Zerwürfnis mit dem Papst. Er wurde von Innozenz III. exkommuniziert. Deutsche Adlige beklagten die sich durch die Aktivitäten in Italien ergebende Vernachlässigung ihrer Interessen im nördlichen Teil des Reiches. So wandten sie sich nun an Friedrich II., den Sohn Heinrichs VI. Als einen weiteren potenziellen Thronanwärter. 1215 musste Otto durch die neuen Machtverhältnisse auf den Thron verzichten. Die Münze mit der Inschrift „König Otto“ (OTTO.REX) wurde vermutlich unter Ottos Herrschaft als König von Italien zwischen 1208 und 1212 geprägt. (Otto was the third son of Henry the Lion, Duke of Bavaria and Saxony, and the grandson of King Henry II of England. In 1190 he became the foster son of Richard I of England, who was his maternal uncle. A friendly relationship with the English royal family secured Otto a solid political and financial support in his later career. Richard tried to increase his personal benefit and Otto's political importance by offering him the County of York and later negotiating Otto's marriage to Margarethe, daughter and heir to King William of Scotland, but both attempts failed. In 1196 Richard granted the county of Poitou to Otto. After the death of Emperor Henry VI. Otto was chosen by the princes against Henry's brother Philip of Swabia and the Staufen dynasty as his successor. In 1208 Otto was crowned Emperor of the Holy Roman Empire and King of Italy. Due to his ambitions in the Italian states and in the Kingdom of Sicily, there was a split with Pope Innocent III, who excommunicated him. German nobles complained that Otto's activities in Italy resulted in neglect of their interests in the northern part of the empire. So they turned now to Frederick II, the son of Henry VI, as another potential aspirant. In 1215 Otto had to renounce the throne by the new power relations. The coin with the inscription "King Otto" (OTTO.REX) was probably coined under Otto's rule as King of Italy between 1208 and 1212.)"
Recorded mintage: unknown.
Specification: gold.
Catalog reference: Fr-483; CNI-pl.V, 2; Bellesia-1.
- Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 9th ed., Clifton, NJ: Coin and Currency Institute, 2017.
- [1]Goldberg, Ira, Larry Goldberg, Aleeza Brown, Yifu Che, Jason Villareal and Stephen Harvey, Goldberg Sale 85: the Pre-Long Beach Auction, Los Angeles: Goldberg Coins and Collectibles, 2015.
- [2]Richter, Jürg, Sincona Jubilee Auction 50, Zürich: SINCONA AG, 2018.
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