Prominent coin dealer and hand surgeon thought he was selling real stolen coins

Seized ancient coins
NYDailyNews
Ancient Sicilian coins

Dr. Arnold-Peter Weiss, a prominent Rhode Island hand surgeon, a professor of orthopedics at Brown University School of Medicine, and a dealer in ancient coins, pleaded guilty on July 3, to attempted criminal possession of stolen property, a misdemeanor offense, for trying to sell what he thought were authentic ancient Greek coins that he believed had been looted from Sicily. But the coins are, in fact, forgeries. Assistant District Attorney Matthew Bogdanos told the court, the coins are “exquisite, extraordinary, but forgeries nonetheless.”

Dr. Weiss was arrested on January 3 during the 40th Annual New York International Numismatic Convention at the Waldorf Astoria Hotel, in possession of a silver coin that purported to be an early 4th century BC Greek type known as a Katane Tetradrachm, which he valued at $300,000-350,000. According to the criminal complaint, Dr. Weiss told a confidential informant: “there’s no paperwork. I know this is a fresh coin, this was dug up a few years ago…. I know where this came from.”

Authorities seized the coin, having been informed by Captain Massimo Maresca, of the Italian Comando Carabinieri Tutela Patrimonio Culturale, that “Italian law, namely the Code of Cultural and Landscape Heritage, has vested absolute and true ownership of all antiquities found in Italy after 1909 in the Italian government, and that the Italian government never gave Dr. Weiss or anyone permission, consent or authority to remove said coin from the ground or removed it from Italy,” according to the criminal complaint.

Investigators soon discovered that Dr. Weiss was also trying to sell another coin, an Akragas Dekadrachm, purportedly dating from 409-406 BC, which Dr. Weiss valued at upwards of $2.5 million, and a third coin, which were soon to be auctioned by Nomos AG, which is co-owned by Dr. Weiss, as part of a collection dubbed “Selections from Cabinet W.” At the request of the NY District Attorney’s office, the three coins were examined by academic experts, who considered the coins to be genuine. To be certain, Assistant District Attorney Bogdanos had the coins analyzed using an scanning electron microscope, which revealed them to be modern forgeries.

News that the Weiss coins are forgeries — and so well made that even leading experts could not detect them — has the close-knit fraternity of high-end coin collectors abuzz. Surely coin collectors must be asking:

1. Where did these top-quality forgeries come from? How were they made (pressure molded or struck)? How many more examples by the same forger have circulated, and when did they first appear?

2. If experts who examined the coins at the request of the NYDA’s office were unable to determine the Weiss coins are forgeries, what hope do dealers, auctioneers, and collectors have when the next undocumented Greek or Roman coin with scant provenance and a six-figure price tag appears on the market? Will this case prompt coin dealers, auctioneers and collectors to agree that verifiable provenances and scientific testing are necessary for all coins above a certain price level.

Dr. Weiss was sentenced to 70 hours of community service (providing medical care to disadvantaged patients in Rhode Island), was ordered to pay a $1,000 fine for each of the three coins in the case, and forfeited another 20 ancient coins that were seized from him at the time of his arrest. The judge also ordered Dr. Weiss to write an article for publication in a coin collecting magazine or journal warning of the risks of dealing in coins of unknown or looted provenance. The awareness raising impact of that article should be significant.

Contrary to a report on the case published in the July 3 New York Post, no order has been issued by the Court for the forgeries to be destroyed.

Cultural heritage attorney Rick St. Hilaire provides a cogent legal analysis of the Weiss case here.

Assistant District Attorney Matthew Bogdanos is a 2006 SAFE Beacon Award recipient and the author of “The Thieves of Baghdad,” about the looting of the Iraq Museum and resulting exploding black market in its antiquities in the wake of the 2003 invasion of Iraq.

Read more about the case and Dr. Arnold-Peter Weiss here.

3 comments on “Prominent coin dealer and hand surgeon thought he was selling real stolen coins

  1. Here is the court-ordered article from Dr. Weiss “Caveat Emptor: A Guide to Responsible Coin Collecting” ANS magazine 2012, issue 3, pp. 35-41 entitled http://www.scribd.com/doc/106755887/Caveat-Emptor-Arnold-Peter-Weiss-on-the-trade-in-ancient-coins with an editorial comment from the American Numismatic Society president Ute Wartenberg Kagan.

  2. The detail in the July 3 NY Post concerning the court having ordered the forgeries be destroyed is not true.

  3. I do not think the coins should be destroyed, rather kept for further future analysis for the reasons you suggest, What harm is done by keeping them intact for future study? (Or indeed use in future museum exhibitions of fakes).

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