CAESAREA PANEAS, CARACALLA AE
Sofaer 19var (same obverse die), Rosenberger 24var (same obverse die), 22.2mm, 8.80 grams, Struck Year 196 - 199 C.E., Caesarea Panias Mint
Obverse: Caracalla to right, inscription around
Reverse: Pan standing nude facing, looking to right and playing flute; a tree trunk on his right, inscription around; date across field PЧ Θ (year 199 = 196 C.E.)
A VERY RARE type with only two examples in the auction records. This poorer example is the last coin selling in 2014 for about $500. From the references we consulted all the extant examples were struck with the same obverse die, indicating the rarity of this issue. This example may be UNIQUE for its reverse die. While the last digit in the date seems to be an Epsilon, that would date the coin to 192, too early for an issue of Caracalla. It would seem that it was actually meant as a Theta and the engraver simply abridged the letter when he got too close to the edge. This is further evidenced by the obverse die which is die matched to the Theta issues of 196 C.E.
