Trajan, 98-117. Sestertius (Orichalcum, 34 mm, 25.63 g, 6 h), Rome, circa 103-104. IMP CAES NERVAE TRAIANO AVG GER DAC P M TR P COS V P P Laureate head of Trajan to right, wearing aegis on his left shoulder. Rev. S P Q R OPTIMO PRINCIPI / S C Bird's-eye view of the Circus Maximus: In the foreground, arcades with a final arch on the right side, surmounted by a quadriga; behind it and at the left end of the colonnades, another arch with a quadriga; in the background the rear boundary of the Circus with the spectator stands, enclosed in it the tetrastyle temple of Sol; in the arena, on the spina, the large obelisk erected by Augustus; at the end on the left and right the metae, in the spaces in between the equestrian statue of Trajan and the shrine of Cybele. BMC 856. Cohen 546. RIC 571. Woytek 175c. Rare and with an illustrious 19th century pedigree. A beautiful piece with an exceptionally detailed rendering of the Circus Maximus. Light pitting, otherwise, very fine.



The Circus Maximus was Rome’s principal venue for chariot racing and one of the greatest public monuments of the ancient world. After further fire damage under Domitian, Trajan rebuilt and enlarged the complex, an achievement celebrated on this remarkable series of sestertii struck circa 103-104. The reverse offers a detailed view of the Circus, including the central spina with the obelisk erected by Augustus, the metae and several monuments of the arena. Pliny the Elder estimated its capacity at some 250,000 spectators, although this figure remains disputed.

When we previously offered this coin in Leu Auction 17 on 31 May 2025, lot 433, we erroneously identified its previous owner Cantoni as the Garibaldian officer from Forlì who was killed at Mentana in 1867. Subsequent research has shown that the collector was a different Achille Cantoni (1844-1914). Born in Viadana into a prosperous Jewish landowning family with roots in the Mantuan region since the mid-18th century, he later moved to Milan, where he worked as a banker and became a collector, connoisseur and art-market intermediary. We therefore correct this earlier misidentification here.

The correct identification nevertheless preserves a direct connection with the Risorgimento: Cantoni served as a Garibaldian volunteer during the Third Italian War of Independence in 1866 and fought at Condino. In Milan, he became a notable collector and connoisseur with connections to prominent private collectors and major European museums.

Cantoni also assembled an extensive numismatic collection. On 25 April 1887, Giulio Sambon in Milan auctioned 5,427 coins and medals from his holdings. Following Cantoni’s death in 1914, the remainder was dispersed anonymously by Pietro and Pio Santamaria in Rome in two sales in 1920; the second, on 29 November, included 1,229 Roman and 73 Byzantine coins.

Thus, while our previous identification of Cantoni with the man who fell at Mentana was incorrect, the provenance itself remains secure and historically significant. The present sestertius belonged to Achille Cantoni before passing into the celebrated collection of V. J. E. Ryan. Further research has also revealed an additional pedigree, not known to us when the coin was last offered: it once formed part of the celebrated Walter Niggeler Collection, sold by Leu and Münzen & Medaillen AG in 1967.