RIC 1431 Vespasian Countermarked

AR Denarius, 3.06g
Ephesus Mint, 71 AD; Countermarked under Vespasian at Ephesus, circa 74-79 AD
Obv: IMP CAESAR VESPAS AVG COS III TR P P P; Head of Vespasian, laureate, r.; c/m: IMP·VES (ligate)
Rev: PACI AVGVSTAE; Victory, draped, advancing r., holding wreath extended in r. hand and palm over l. shoulder. EPHE lower r.
RIC 1431 (C). BMC 457. RSC 276. RPC 833 (14 spec.). BNC 352; c/m: GIC 839
Acquired from Ancient Imports, November 2016.

In the mid to late 70's AD, Ephesus stamped older, worn Republican and early Imperial denarii circulating in the region with the IMP·VES countermark. Here is an exceptionally rare appearance of that Vespasian countermark on a denarius struck for Vespasian. I know of less than half a dozen other Vespasianic denarii similarly stamped. Of course the coin does not require any such countermark, therefore it is a remarkable mint error. The terminus post quem for the countermarking is 74, based on the discovery of another Vespasian countermarked Ephesian denarius dated COS IIII (CNG 78, lot 1753). RPC speculates that these countermarked coins represent a later 'issue' of silver from Ephesus struck sometime after 74 and before Vespasian's death in 79.

The mint workers applying the countermark were kind enough not to obliterate the portrait.