Whether you’re branching out from collecting modern coins or going ancient from the start, these relics from days gone by offer a fascinating look into the past and give context to the coins we use today.
The Earliest Coins
Gold and silver have been used for trading in one form or another for over 4,000 years, but it took King Croesus of Lydia (or maybe his father, Alyattes) to create the first actual coins from electrum, a naturally occurring alloy of gold and silver, around 550 BC. These early coins were crude and irregularly shaped, but are important for two reasons: they were standardized by weight and content, and they bore the official seal of the kingdom, making them the first recognized governmental currency.
As the idea spread throughout the Mediterranean, successive civilizations, notably the Phoenicians and early Greeks, refined the process. By the late Greek and early Roman empires, coin making had become much more sophisticated and served as models for the coins of today.
Rare or Not So Rare?
You might think that 2,000-year-old coins would be hard to find, but that’s not the case at all. Over the centuries, billions of coins were made and ancient coins turn up frequently and in large numbers from archeological sites. Some specific ancient coins in pristine condition can be extremely rare, but in general, ancient coins are plentiful.
But Are They Expensive?
Some of the rarest ancient coins can be quite expensive, and coins made of silver and gold have bullion value as well as collectability. But there are many bronze and copper coins that can be had for as little as $10. This is partly due to the large numbers of ancient coins that have survived, and partly because there are fewer collectors of ancient coins, reducing their demand. For instance, an 1,800-year-old bronze Maximian follis coin in extra-fine condition only costs about $25.
How Do I Start Collecting Ancient Coins?
Collecting ancient coins is no different from collecting anything else. You need to know what’s out there and what it’s worth. And because ancient coins were crudely made, they’re much easier to counterfeit, so only buy from sources you trust.
The best place to start is on the internet. You can get plenty of information on the subject as well as current pricing. There are also numerous books on collecting ancient coins that give more detailed information on the specifics of the field including books that specialize in certain eras or civilizations.
There are fewer local dealers who carry ancient coins than modern ones, and that’s true of coin shows, too, but most major shows have ancient coins available. These include the New York International Numismatic Convention, the Chicago International Coin Fair, and the American Numismatic Association’s two annual shows.
For an extensive list of ancient coin collecting resources, read this article by Reid Gold about Getting Started With Ancient Coins.
Collecting ancient coins can be a fascinating specialty that takes you into the history of the world. And it’s surprisingly affordable, too. Why not give it a try?
