1. http://www.magnagraecia.nl/coins/Area_VI_map/Naxos_map/NaxosH_006_ha.jpg tetradrachm of Naxos, shortly after 461 BC. Obv. head Dionysos, bearded. Hair in knot and guirlanded with ivy. Rev. nude Silen sitting with footless kantharos; NAXION Cahn 54 (O 39/R 45) 17.44 g 28,3mm P.R. Franke and M. Hirmer (1964, 1972) Die Griechische Münze (no. 6) British Museum London.
   
2. http://www.acsearch.info/record.html?id=591501 Source Ira & Larry Goldberg Coins & Collectibles, Inc. Auction 70 (04.09.2012) Lot 3029  ( «  |  » ) Estimate 65000 USD. Description Sicily, Naxos, c. 460 BC. AR Tetradrachm (16.42 g). Bearded head of Dionysos right, wearing wreath of ivy, hair tied in bunch behind head. Reverse: N-AXI-ON, nude and ithyphallic Silenos squatting facing, head left, holding kantharos in right hand, leaning on left. Cahn 54; SNG ANS 515; SNG Lloyd 1150; SNG Lockett 840; Gulbenkian 230-231; Rizzo pl. 28, 2; Jenkins 673; SNG Fitzwilliam 1108; Kraay-Hirmer 6 (all references same dies). Nicely toned, some light porosity with a small spot of horn silver below Selinos slightly smoothed. Struck from an earlier die state with no trace of the die break under the nose. One of the most celebrated coins from antiquity, a masterpiece of engraving. Choice Very Fine. Naxos was the earliest of the Greek colonies in Sicily, having been founded around 735 BC by settlers who probably had originated from the Aegean islands. In addition, Naxos was the mother-city of the celebrated Sicilian communities of Leontini and Katana. In 476 BC, the entire population of Naxos was moved to Leontini by Hieron of Syracuse. They evidentally returned home some fifteen years later in 461 BC. It appears that this tetradrachm probably was struck to celebrate this event. This issue was struck from only one pair of dies, and is considered one of the true masterpieces of Greek art. Only about 75 examples of this important coinage are known to exist. The first example of the art of foreshortening. As noted in the Hunt Auction Catalog: The obverse is a superb head of Dionysus, engraved with a mastery and power equaled only by the unique tetradrachm now in Brussels of Aetna (the new name of Catana) with its head of Silenus; the similarity is so great and the artistry so exceptional that it is thought that both dies were the work of a single artist, the so-called Aetna Master. Here, for example, the way that the hair and beard overlap the surrounding circle enhance the sculptural quality of the head and give it extra depth. The reverse of the Naxian coin shows an equal triumph of the coin engraver's art; the stunning conception of the frontal view of a squatting Silenus, companion of Dionysus, and the technical brilliance of the engraving of the foreshortening limbs and muscles have no equal in Greek coinage. Estimated Value $65,000 - 70,000. Provenance: Ex: Triton VIII (Jan. 2005), lot 70; Ronald Cohen Coll. Gorny & Mosch 112 (Oct. 2001), lot 4028; Nelson Bunker Hunt Collection IV (Sotheby's, June 1991), lot 79.
3. http://www.acsearch.info/record.html?id=540004 Source THE NEW YORK SALE Auction XXVII (04.01.2012) Lot 149  ( «  |  » ) Estimate 125000 USD Price 850000 USD Description The Prospero Collection of Ancient Greek Coins. SICILY. Naxos (c.461-430 B.C.), Silver Tetradrachm, 16.98g,. c.460 B.C. Bearded head of Dionysos facing to right, wearing an ivy-wreath, his hair tied in a krobylos at the back. Rev. N-AXI-ON , naked, bearded and ithyphallic Silenos squatting facing, his head turned left towards the kantharos he holds in his right hand, he supports himself with his left hand propped on the ground (Cahn 54 (V39/R45); Antikenmuseum Basel 384; BMC 7; Gulbenkian 230-1; Randazzo 227-31; Rizzo pl. XXVIII, 12; SNG ANS 515; SNG Lloyd 1150). A wonderful example of one of the greatest of all fifth century Greek coins, struck on a broad flan, superb cabinet tone, about extremely fine. Ex Comtesse de Béhague Collection, J. Vinchon, Nouveau Drouot, Paris, 14 April 1984, lot 36. This issue is one of the most famous coins from antiquity. All of the known examples are produced from a single pair of dies. The artist was clearly a master die-engraver, arguably the finest of his time anywhere in the Greek world, and is believed to be the same individual known as the “Aitna Master”, named after the unique tetradrachm of Aitna in Brussels. The above tetradrachm of Naxos is believed to be a special commemorative issue, marking the refoundation of the city of Naxos in 461 B.C. Its inhabitants had been in exile in Leontinoi since 476 B.C. after they had been forcibly removed by the tyrant Hieron of Syracuse. Following the collapse of the tyranny at Syracuse, they were able to return to their homes and this issue forms part of the commemoration of that event. This early classical masterpiece still retains some of the rigidity of design that is typical of archaic art but it is far more naturalistic in its proportions, setting it aside from previous archaic die engraving While the shape of the beard and the formal arrangement of the hair of Dionysos are reminiscent of the archaic style, his eye is seen in profile and the entire obverse has been set-out with more freedom, indicative of classical progression. The rendering of Silenos on the reverse of the coin moves even further into the realms of early classical art, evident in the details of his anatomy and particularly by the sense of perspective achieved through his foreshortened right leg and feet. This reverse composition is extremely impressive in its technical mastery for the period, and the artist that created it was one of the most outstanding of his day. This coin has the reputation of being one of the great classics of the ancient Greek series. US$ 125,000.
4. http://www.acsearch.info/record.html?id=358546 Source Nomos AG Auction 1 (06.05.2009) Lot 25  ( «  |  » ) Estimate 400000 CHF Price 775000 CHF (~697500 USD) Description SICILY, Naxos. Circa 460. Tetradrachm (Silver, 17.33 g 1). Bearded head of Dionysos to right, wearing ivy wreath, and with his hair tied in a krobylos at the back; border of dots cut through by the beard, the krobylos and the wreath tips Rev. ΝΑΧΙΟΝ Nude, bearded and ithyphallic Silenos squatting, facing, turning his head to the left toward the two-handled, stemless drinking cup he holds in his right hand, supporting himself with his left hand propped on the ground. Basel 384. Cahn 54. Franke/Marathaki 102/129. Gulbenkian 230-231. Kraay/Hirmer 6. Randazzo 231 (this coin). Rizzo pl. XXIX, 1. SNG ANS 515 (all same dies). A spectacular example of this famous coin, one of the very best specimens in existence. Good extremely fine. From the Spina collection and from the collection of Orme Lewis, Triton II, 1 December 1998, 201, ex Bowers & Ruddy, Masterpieces of Ancient Coinage, 4, and from the Randazzo Hoard of 1980. This is one of the greatest and best known of all 5th century Greek coins. It was produced as a special issue, from a single pair of dies, to commemorate the refoundation of the city of Naxos by its original inhabitants in 461, after their return from exile in Leontinoi. The die-engraver, often known as the Master of the Brussels Aitna Tetradrachm after the unique piece in Brussels that is surely by the same hand, was the finest die cutter then working anywhere in the Greek world. This head of Dionysos is unsurpassed in its power and beauty, but the kneeling Silenos on the reverse is even more impressive in its technical mastery, with the successful use of foreshortening of the right leg a triumph for the time. Silenos is managing to balance himself, but the way he is peering at his cup, as if to see if there is anything still in it, indicates that he is probably very drunk, indeed.
5. http://www.acsearch.info/record.html?id=42429 Source Numismatica Ars Classica NAC AG Auction 46 (02.04.2008) Lot 830  ( «  |  » ) Description Auction 46 Part II Greek Coins Naxos  Tetradrachm, circa 460, AR 14.60 g. Bearded head of Dionysus r., wearing ivy-wreath, hair tied up high in a knot on the nape of his neck. Rev. N - AXI - ON Naked, bearded Silenus, with pointed ears, ruffled hair and long tail, squatting facing, the r. leg raised and the l. folded to the side. The head is turned l. towards kantharos in r. hand, while he supports himself with the l. The tail shows below his r. leg. Rizzo pl. 28, 12 (these dies). Kraay-Hirmer pI. 2, 6 (thse dies). AMB 384 (these dies). Cahn 54 (these dies). Very rare. Heavy scratches, corrosion and tooling, otherwise fair / about very fine. Estimate: 15000 CHF.
6. http://www.acsearch.info/record.html?id=95304 Source Dr. Busso Peus Nachfolger Auction 380 (03.11.2004) Lot 213  ( «  |  » ) Price 17000 EUR (~21759 USD) Description GRIECHISCHE MÜNZEN (GREEK COINS) -Sizilien -Naxos 213. Tetradrachme 461/430 v. Chr. Kopf des Dionysos mit Efeukranz / Hockender Silen mit Kantharos. Cahn, Naxos 54/41 (dies Exemplar mit fehlerhafter Gewichtsangabe). 16.55 g. Sehr selten Sehr schön. Ex Slg. J. Ward (=Auktion Sotheby Zürich 1973) 176. Schätzung (estimation): 10000,-- EUR.
7. http://www.acsearch.info/record.html?id=14149 Source Numismatica Ars Classica NAC AG Auction 27 (12.05.2004) Lot 98  ( «  |  » ) Price 60000 CHF (~46432 USD) Description Greek Coins Naxos No.: 98 Estimate: CHF 50000 d=29 mm Tetradrachm, circa 460, AR 17.14 g. Bearded head of Dionysus r., wearing ivy-wreath, hair tied up high in a knot on the nape of his neck. Rev. N - AXI - ON Naked, bearded Silenus, with pointed ears, ruffled hair and long tail, squatting facing, the r. leg raised and the l. folded to the side. The head is turned l. towards kantharos in r. hand, while he supports himself with the l. The tail shows below his r. leg. Rizzo pl. 28, 12 (these dies). Kraay-Hirmer pl. 2, 6 (thse dies). AMB 384 (these dies). Cahn 54 (these dies). Perhaps the finest numismatic illustration of Greek art's great transition from one visual paradigm to another, a protoclassical coin whose obverse is still tinged with the archaic, while the reverse reaches out towards perfect anatomical realism, constructing a bridge between two worlds. A die-break on obverse at three o' clock, otherwise a magnificent specimen struck in high relief on a full flan. Extremely fine. Ex Leu 42, 1987, 105 and NAC 6, 1993,75 sales. Though few ancient Greek coins are universally recognized as masterpieces of art, this tetradrachm, from a single set of dies attributed to the Aetna Master, is unquestionably among them. Much like the engravers of Naxos’ earliest coinage, this artist was influenced by Attic art. Gone is the frontal eye so strongly associated with Archaic art, but retained are his arched eyebrow and his faint Archaic smile. The proportions are naturalistic, which helps identify it as a product of the transitional era. The masterful head of Dionysus appears straight from Athenian Red Figure ware of the late Archaic period, perhaps from the prolific work of Douris, who painted from about 500 to 460 B.C. Dionysus’ mature, virile appearance is realized through the contrast of the smooth texture of the neck and face and the stiff and bristly hair and beard. The central design exceeds the beaded border at four points, creating yet another attractive element of the design. Unlike contemporary coin designs in Sicily, this issue is charged with a rude vigor that lends itself admirably to the bearded Dionysus and the drunken Silenus. The reverse composition is nothing short of a work of genius: the virile, ithyphallic Silenus sits with his feet drawn in, and supports his weight with his straightened left arm while with his right hand he balances a two-handled cantharus (wine cup) on his shoulder. The clever foreshortening of Silenus’ feet has few, if any, parallels in Greek numismatics. Silenus’ head, with its heavy brow, pug nose, pursed lips, bestial ear and cascading mustache, is a delight in itself. But most remarkable of all is his contemplative expression: clearly inebriated, Silenus appears absorbed in deep thought, perhaps sizing up the qualities of his beloved wine. This image is in keeping with his reputation as having been perpetually drunk, but also as being capable of deep thought; indeed, he was so wise that King Midas and Dionysus chose him as their teacher.
8. http://www.acsearch.info/record.html?id=95379 Source Leu Numismatik AG Auction 86 (05.05.2003) Lot 275  ( «  |  » ) Price 86000 CHF (~64429 USD) Description Magna Graecia SICILY Naxos Estimate: CHF 75'000.00 Tetradrachm (Silver, 17.89 g 7), c. 460. Bearded head of Dionysos to right, wearing ivy wreath, and with his hair tied in a krobylos at the back; border of dots cut through by the beard, the krobylos and the wreath tips. Rev. Nude, bearded and ithyphallic Silenos squatting, facing, turning his head to the left towards the two-handled, stemless drinking cup he holds in his right hand, and supporting himself with his left hand propped on the ground. Basel 384. Cahn 54.40 (this coin). Franke/ Marathaki 102/129. Gulbenkian 230-231. Kraay/Hirmer 6. Randazzo 227-231. Rizzo pl. XXIX, 1. Very attractively toned and well struck. Minor marks, otherwise, about extremely fine. From the de Guermantes and de Nanteuil collections, ex J. Hirsch XXVI, 23 May 1910, 80.
9. http://www.acsearch.info/record.html?id=31942 Source Leu Numismatik AG Auction 81 (16.05.2001) Lot 88  ( «  |  » ) Price 175000 CHF (~100987 USD) Description Sicily Naxos Estimate: CHF 130'000.00 Tetradrachm (Silver, 17.22 g 4), c. 460. Bearded head of Dionysos to right, wearing ivy wreath, and with his hair tied in a krobylos at the back; border of dots cut through by the beard, the krobylos and the wreath tips. Rev. Nude, bearded and ithyphallic Silenos squatting, facing, turning his head to the left towards the two-handled, stemless drinking cup he holds in his right hand, and sup-porting himself with his left hand propped on the ground. Basel 384. Cahn 54.22 (this coin, with the obverse illustrated on pls. III and XII). Franke/Marathaki 102/129. Gulbenkian 230-231. Kraay / Hirmer 6. Randazzo 227-231. Rizzo pl. XXIX, 1. Beautifully toned; an impressive piece struck on a broad flan. Minor marks, otherwise, extremely fine. Ex Hess-Leu 49, 27 April 1971, 55. Perhaps the most important monument of 5th century Greek numismatic art, this is also one of the most famous of all Greek coins. It was struck as a special issue, produced from a single pair of dies, in order to celebrate the refoundation of the city of Naxos by its original inhabitants in 461, after their return from exile in Leontinoi. The die cutter, often known as the Master of Brussels Aitna tetradrachm after the unique piece in Brussels, was surely the finest engraver then working anywhere in the Greek world and his head of Dionysos is unsurpassed in its power and beauty. However, the kneeling Silenos on the reverse is even more impressive in the virtuosity of its composition, with the foreshortening of his right leg a triumph for the period. He balances himself with a great slow dignity, but his bleary, somewhat incredulous expression reveals quite how drunk he is: is he surprised at how little wine remains in his cup, or is he amazed that there is any left at all?
   
10. http://www.acsearch.info/record.html?id=565333 Source Heritage Auctions, Inc. Auction 2012 April World & Ancient Coins CICF Signature Auction (26.04.2012) Lot 23030  ( «  |  » ) Estimate 4000 USD Description Naxos. Ca. 461-430 BC. AR (fourree?) tetradrachm (29mm, 11.61 gm, 12h). Contemporary imitation? Head of Dionysus right, wearing taenia decorated with ivy-tendrils, hair and beard in loose array / ΝΑΞΙΟΝ, Silenus squatting facing, head left, holding cantharus and thyrsos; to left, stem of ivy. Cahn 150 (V92/R121). SNG ANS 524. Surfaces badly corroded, with some areas tooled, bottom edge broken away, otherwise about Very Fine. Ex Dr. Busso Peus Nachfolger Action 400 (22 April 2010), lot 41. Although previously catalogued as a plated (fourree) coin, this specimen does not bear any obvious signs of a base metal core, though displaying considerable surface erosion, delamination and actual breakage around the edges. The interior surfaces visible at the breaks appear to be silver, albeit crystallized and showing signs of lamination, indications of great age. The coin could be an contemporary imitation or forgery, made from illicitly obtained "official" dies, struck in an inferior silver alloy, which could account for the visible breakage and delamination.
    

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Note:

(1) Tetradrammo (argento). Il periodo successivo al 466 a. C. vede il ritorno a Naxos (città greco-sicula tra Messina e Catania) dei suoi abitanti dopo l'esilio a Leontini ordinato da Gerone, tiranno di Siracusa. Nel periodo tra il 461 e il 430 la zecca di Naxos batté una serie monetale in argento costituita da due nominali, un tetradrammo della tipologia di figura e una dracma di tipologia molto simile, salvo che al rovescio il Sileno presenta il ginocchio sinistro più sollevato rispetto a quello destro (v. ad esempio il link). Il tetradrammo aveva peso e valore pari a quattro dracme . Raccolgo in tabella le caratteristiche fisiche dei tetradrammi di Naxos battuti nel periodo menzionato e sopra elencati:

Riferimenti	Peso (g.)	Diametro (mm.)	Asse di conio (h)
Link1	18,09	25	-
Link2	17,44	28,03	-
Link3	16,42	-	-
Link4	16,98	-	-
Link5	17,33	-	1
Link6	14,60	-	-
Link7	16,55	-	-
Link8	17,14	29	-
Link9	17,89	-	7
Link10	17,22	-	4
Link11	11,61	29	12

Dal punto di vista fisico la differenza principale tra la moneta in esame e le monete originali sta nella tipologia metallica dal momento che la prima è in lega ferrosa mentre i secondi erano d'argento quasi puro.
(2) Secondo la leggenda (v. link), il dio del vino, Dioniso, aveva un forte legame con l'isola di Naxos nelle Cicladi dalla quale provenivano i primi abitanti dell'omonima città siciliana. Nell'isola di Naxos Dioniso aveva incontrato Ariadne abbandonata da Teseo e l'aveva fatta sua sposa sicché l'isola costituì uno dei primissimi centri di culto del dio, culto fortemente ripreso sia dalla monetazione cicladica che da quella della Naxos sicula.
(3)IΛΑΧIΟΝ è una storpiatura introdotta dall'incisore moderno; nelle monete autentiche d'epoca la leggenda era NAXION.
(4)Sileno è noto come il maestro di Dioniso. Vuole la leggenda (v. link) che Dioniso si fosse messo alla ricerca del suo maestro e protettore Sileno il quale, ubriaco, si era perso e, ritrovato da alcuni contadini, era stato condotto al cospetto del re Mida (una variante della leggenda vuole che Sileno fosse stato scoperto nel roseto di Mida); Mida, avendolo riconosciuto come amico di Dioniso, lo aveva ospitato nel suo palazzo per dieci giorni e dieci notti. All'undicesimo giorno lo aveva ricondotto da Dioniso il quale gli aveva offerto come ricompensa un dono a sua scelta. Mida chiese di ottenere il potere di trasformare in oro ciò che toccava. Dioniso, ancorché dispiaciuto per tanta avidità, lo accontentò. Quando Mida, tornato nella sua reggia, si accorse che anche il cibo che toccava si trasformava in oro, temendo di morire di fame, chiese a Dioniso di liberarlo dal potere che gli aveva concesso. Dioniso lo accontentò ancora una volta suggerendogli di bagnarsi nelle acque del fiume Pattolo (pronuncia Pattòlo) le cui sabbie da quel momento divennero aurifere. Per inciso Pattolo è il nome del fiume Sartçai in Turchia che nasce dal monte Tmolo nella Lidia, scorre presso le rovine di Sardi e confluisce nell’Ermo (oggi Gediz). Dall'elettro delle sue sabbie, attorno all'ottavo secolo a.C., fu ricavato il metallo utilizzato per la produzione delle prime monete del mondo occidentale.
E' verosimile che la NAXOS sicula, terra di produzione del vino, adottasse, come simbolo rappresentativo della città, Dioniso, il dio protettore della vendemmia il cui culto era osservato nell'isola omonina da cui erano partiti i primi abitanti della città siciliana.
(5) Le monete di Naxos sono frequente oggetto di falsificazione; si veda ad esempio la riproduzione della dracma di Naxos, coeva del tetradrammo in esame, di cui al link http://www.forumancientcoins.com/fakes/displayimage.php?pos=-12496, riproduzione che, a quanto pare, avrebbe avuto origine nel nostro paese.