The outline of Vespasian’s portrait and its accompanying inscription are seen in the close-up of the obverse,

as is part of the inscription IVDAEA at the bottom edge on the reverse close-up.

Click images to enlarge.

No other denarii of Vespasian feature these letters in this order, arranged in a straight line, so the identification of the reverse type is certain. Neither the trophy nor the mourning Jewess that on the original coin appeared above the inscription are visible, for they were obliterated in the overstriking process.

It would seem that fewer than five of these IVDAEA undertypes have come to light, with one of them being illustrated and described as coin 1432 in the fifth edition of David Hendin’s Guide to Biblical Coins.

From an historical standpoint, this coin tells a tremendous tale. The host denarius of Vespasian was originally issued in A.D. 69 or 70 as part of the ‘Judaea Capta’ series that celebrated Rome’s victory in the Jewish War of A.D. 66 to 70, which culminated in the sack of Jerusalem and the razing of the Holy Temple. That victory had been led by none other than Vespasian and his eldest son, Titus, both of whom were destined to be emperors.

Somehow the host denarius made its way to Judaea, perhaps with a soldier or a merchant. But it most likely would not have circulated there as its design would have been offensive to the local population. Eventually, in A.D. 133, the coin found its way to the minting facility then being used by the rebel forces of Bar Kokhba. While there it was restruck and transformed into a new currency, the patriotic designs of which trumpeted the cause of the Jewish rebels.

It has long been suggested that the overstriking process was symbolic as a way for the rebels to ‘erase’ a potent symbol of Roman authority by virtue of creating their own emblems. However, in this case, it would have had even greater meaning since it was also a chance to erase a coin type that celebrated an earlier Roman victory in Judaea.

Unfortunately for the mint workers of Bar Kokhba who performed this overstriking, whatever joy they received from the transformation of this denarius was short-lived, for Bar Kokhba was defeated in A.D. 135 and his coinage was quickly removed from circulation.

This coin, now encapsulated by NGC Ancients with a grade of Choice XF, Strike 3/5, Surface 4/5, and a notation of the important overstriking, is featured as lot 2064 in the upcoming auction of ancient and world coins to be held by Stack's Bowers at the Waldorf Astoria New York City on the evenings of January 13-14, 2017.