COLLECTING ROMAN COINS
The Beginner’s Guide to the Absolute Essentials
Ken Pilon - October 2020
Are you new to collecting ancient Roman coins? Then start right here…
How to Read a Typical Roman Imperial Coin
OBVERSE SIDE REVERSE SIDE
Legends, portraits, deities, mint-marks, images, etc, all vary from coin-to-coin. There are a large number of varieties and many thousands of coin types. Roman coins often contain a wealth of information. Much of what we know of the Roman Empire is from their coins.
There are two general periods of Roman coins…
1. The Roman Republic - 289BC to 27BC (crude coins starting in the 5th century BC).
2. Imperial Rome - 27BC to 476AD.
Both periods produced bronze, silver and gold coins. Bronze are the most common of course.
Republic Coins
No emperor’s portraits are on them. The coins are not yet standardized. Both coin sides contained a variety of images, deities, subjects and information. Much fewer in numbers and often with outstanding artwork in the later republic. These coins command somewhat higher prices. They often contain little text, Latin and Greek when it does.
Imperial Coins
Standardized and in two similar types, Imperial and Provincial (the outer Provinces of the empire). Imperial coins are in much greater numbers than in the Republic, have much greater variety and generally at lower cost. Imperial is the period to start collecting coins in.
Summarizing the centuries…
● Magnificent artworks are often contained in coins from the 1st century BC to the 2nd century AD.
● The largest and heaviest coins are in the 1st and 2nd centuries.
● The greatest number of available collector coins and at the lowest cost, are from the 3rd and 4th centuries.
● Fifth century pieces are hard to find, often small in size and are more crude.
Coin Legends
The obverse will contain characters along the edges of the coin.● They will be in Latin for Imperial coins or Greek for Provincial coins.
● Are always in capital letters.
● There is no spacing between any of the words.
● Many of the words are abbreviated using a few letters that must be decoded.
● Legends can be split in mid-word across the coin edges.
The reverse will also contain characters along the edges of the coin. In addition to the obverse legend information above…
● Legends are often political, ideological or propaganda in nature.
● The field (the coin background) can contain additional abbreviated characters that identify mint works-shops or issuing authority.
● The exergue (area below the line at the coin’s bottom) typically contains an abbreviation of where the coin was minted. The exergue can also contain other information.
Numbers of Roman Coins
The number of Roman Imperial coins minted is unknown but is estimated at ~20 billion. The number of surviving coins is thought to be 25 million. There are about 7,200 fully different Roman Imperial coin types, their variations bring the total to about 55,000 different coins.
Content of Coin’s OBVERSE Side
The emperor's portrait is is obverse side. This side of the coin will almost always contain a side facing portrait of the emperor. The coin’s edge legend will contain the emperor’s name and a number of abbreviations of his official titles.
Content of Coin’s REVERSE Side
The obverse usually has a deity, sometimes a scene, building, animal, religious symbols, ship, etc. The coin’s edge legend often contains political propaganda or is spiritual. The coin’s field sometimes contains letters representing mint workshops or issuing authority. If it has an exerge the characters below it usually identify the coin’s city of mintage.
Denominations
Not identified on the coins itself and they varied over time. A coin’s denomination is identified by the ruler’s period (the denominations of that time), the coin’s material plus its size and weight.
Coin Sizes and Weights
There was great variation but they are typically the sizes and weights of today’s coins. Bronze coins were typically 20mm in diameter and 4 grams in weight. They varied from the quadran 15mm/2 grams pieces to the sestertious coins at 32mm/20-25 grams (some much larger). Coin sizes and weight fell with time as the empire slowly decayed.
Emperors on Coins
This
will almost always have a side facing portrait of the ruling emperor. It is
usually right facing, sometimes left facing and with a few 5th century exceptions, never front facing. This side of the coin is the obverse side.
The emperor’s portraits come in six general types with many variations of each…
● Radiate (crown of sun rays).
● Laureate (crown of laurel leaves).
● Bare headed.
● Helmeted head.
● Diademed busts (band of pearls or rosettes)
● Veiled Busts (men and women)
Coins were issued during an emperor’s rule (sometimes posthumously). There are 167 emperors and 22 family members for a total of 189, that have their portraits on a coin. Many are uncommon to rare. Just 19 portraits comprise 50% of all surviving Roman coins. It is also most unlikely you’ll be able to possess a Julius Caesar, Mark Anthony or Cleopatra coin without spending a lot for it (these however are not Roman Imperial coins).
Deities on Coins
There were many dozens of them and were always on the reverse side of the coin. Deities were used to create associations between the ruler’s sovereignty and the divine powers of the gods. They were also used as propaganda to promote and unify the Empire. Victory was by far the most common deity found on Roman coins.
Roman Mints
There were hundreds of mints scattered throughout the Empire at various times. Most operated for relatively short periods of time. Forty-nine percent of all coins were minted in Rome itself, often the silver, gold or medallion issues. Many 3rd and 4th century coins contain a mint-mark that identifies the mint, the workshop that produced it or even the coin's production run.
Purchasing Roman Coins
Typical pricing from a dealer for an average condition coin of common Roman emperors…
● Bronze: $15-20
● Silver: $40
● Gold: $800
Places to Buy Roman Coins
● Online Public Auctions - These auctions allow individuals to sell online. Bidders must be careful and knowledgeable. Photography is often poor. Many coins are appear overpriced and/or of lower quality.
● Dealers - The reputable dealers are safe but their prices tend to be higher. Usually very good photography. Dealers can provide support.
● Auction Platforms - Usually safe. Professional photography. These platforms act as an interface between auction houses and the bidder. You must be pre-approved not just registered, to bid. You need more knowledge and discipline with this route. It can be easy to overpay but with some patience you can pick up some good buys. My preferred method.
Bulk Uncleaned Lots
Typically $2-$6 per coin. Coins are often covered in hardened dirt and corrosion. Most coins are not very cleanable. The number of attributable coins varies but is low, maybe one-third. You will not find any gold coins here, ever. However, sometimes you’ll find a silver one under all the crude. If you wish to try view it as a learning experience. The least expensive and most productive way to buy bulk lots of mostly attributable coins is through a reputable dealer ($6-$10 a coin) or an auction house ($4-$8 a coin).
Identifying Your Roman Coin
There are a number of online resources where you can enter a partial reading of the readable Latin or Greek text that will identify all of the roman coins that carry it. This can include other coin details as well such such as portrait, material, size, deities, exerge, etc.
And Finally...
Try not to collect Roman coins purely as an investment as it’s unlikely to pay off. Collect them for their beauty and the love of history…, as I do.
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