eric section2 intro

7/29/2019 ERIC Section2 Intro

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Introduction

Romanimperialcoinsareprobablythemoststudiedandwrittenabouterainthefieldofancientnumismatics.Itmightbequestionedwhyanotherbookonthesubjectisnecessarygiventhelopsidedattentionthispartofhistoryhasalreadyreceived.ManyofthesebookswillfocusonalimitedtopicortimeperiodandstudyitindepthwhileothersattempttotackletheentirelengthoftheRomanempire.Someappealtothecasualhistorybuffandothersarewrittenforandbyscholars.Andallofthem,includingthiseffort,sufferfrombeingquicklyoutdatedthankstonewdiscoveriesofcoins,historicaldataandanalysesthatconstantlyreshapeoldtheories.

TheaimofthisbookistoprovidefirstandforemostthecollectorofRomancoinswithaneasytouseguidetounderstandinasconciseamanneraspossiblethecorpusofmoneyissuedfromthetimeofthefirstemperortothelast;aperiodinhistoryspanningoverhalfamillennium.Naturally,asuser-friendlinessisgiventoppriorityforthesakeofthecollectorotherusersmaybedisappointed.Thescholarwilllamenttheexclusionofobscureissues,thehistorianwillfindlittlenewresearch,theinvestorandothersconcernedprimarilywiththeworthoftheircoinswillfindthisbooknearlyuselessandthosewhoseinterestliesinanysubjectnotcoveredwillrightfullyfeeldisenfranchised.OntheotherhandRomancoincollectorswillatlonglastfindinasinglebookacomprehensiveaccountofnearlyeveryvariantoflegendandtypeknownforeachoftheovertwohundredemperors,empressesandotherimperialsinwhosenamecoinsweremintedduringthistime.Inaddition,afull-fledgedcatalogofknowncoinsisalsoprovidedwitheachentryhavingauniquenumbertofacilitatereferenceamongcollectorsandstudents.Traditionally,coinguidesforancientcoinstendtohavefullpagesofcoinphotographsattheendofthebook.Whileamoreefficientandcost-effectiveapproach,Ihavechoseninsteadtoincludethephotographsattheendofeachemperor‟ssectiontomakethemmoreaccessible.Everyfeature,again,hasbeencraftedtomakethisenormousamountofinformationaseasytounderstandaspossibleinascondensedaformatasispractical.Justlikewithanyotherreferencebook,thedatahereincouldnotpossiblyhavebeencompiledwithoutextensivehelpfrommanyotherswhoseinterestsandexpertiseareasdiverseasthecoinsthemselves.OfparticularimportanceinthisendeavormustbenotedTheRomanImperialCoinageseriesofbookswhichislargelyregardedasthemostdefinitiveandcertainlymostconsultedworkonRomancoins.This13-volumesettookthebetterpartofacenturytocompleteandis,infact,anongoingprojectwiththecollaborationofmanyoftheworld‟stopnumismatists.SpinkandSon,itspublishers,havegraciouslyallowedforthecross-referencingoftheircatalognumberstothelistingsinthisbook.DavidSear,anauthorwhohasdevotedhislifetothestudyofancientcoinshasalsoallowedforsimilarcross-referencingrightstohisownhighlyacclaimedbooks.

Many,manyfriends,toonumeroustolisthaveprovidedphotosoftheircoinsandsometimesthecoinsthemselvesforinclusion.TheSwissnumismaticfirmofLeudonatedhundredsofdollarsworthofoldcatalogs,alwaysaprimegroundforresearch.TheBritishMuseumprovidedphotographsofsomeoftheworld‟srarestcoinphotographsfreeofcharge.AndIamequallyindebtedtoCNG,NumismatikLanz,Münzen&Medaillenandmanyotherfirmsandscoresofindividualsformakingawealthofinformationaccessibleoverthelasttwoyearsithastakentoputallofitneatlyacrossthespaceofafewhundredpages.

RasielSuarezCo-founder

DirtyOldCoins,LLC



About Roman Coins

OneofthemostrecognizableculturaltraitsoftheRomanswashowsystematicandmethodicaltheywere.Inwar,politicsandarttheRomanspreferredastrictdisciplineandadherencetotheirrules.Naturally,thisemphasisonconsistencycarriedoverintotheircurrencypolicies.ForhundredsofyearsmillionsofcoinswerehandmadebyuntonumbersofcraftsmenandalmosteveryoneisinstantlyrecognizabletothecollectororstudentasRoman.ItisremarkablethatingoodtimesandinbadtheycouldbecountedontomakeonecoinlooknearlyidenticaltothenexEventothebitterend,whencoinswerelittlemorethanmetalscrapswithscribbledondesignstheyretaineda„look

andfeel‟uniquelytheirs.AsidesfromaestheticstheRomanswereconsistentaswellwiththecontenttheychosetoportrayontheircoins.Frothemweinheritthelegacyofmatingaperson‟sfacetotheobverse,appropriatelyreferredtoas„heads‟informally,withadesignontheback.Manyofthethemestheychosetoputonthesereverseshavealsobecomestapleingredientsinmodernwesterncultureaswell.TheRomansweremastersofpropagandaandlearnedearlyonhowtexploiteveryelementofacoin‟sdesigntofurthertheimperialmessageofastrongandcohesiveempire.Toth isentheyemployedavastnumberofsymbols,insigniaandinscriptionstodrivehomethepoint.MostRomancoinsfeaturereligiousormilitarythemes.Issuesofacivicorpurelysecularnaturearerelegatedtoasecondaryroleandthefewtimestheyappeartheyarestillmeanttoglorifythepompandgloryoftheemperorand,bextension,theRomanpeople.

Ancientcoinshavebeencollectedsinceantiquityasambassadorstothepast.Augustus,thefirstRomanemperor,isaidtohaveamassedaworld-classcoincollectionspecimensofwhichheoftengavetodignitaries.Somanykingsandnoblesfromthemiddleagesoncollectedancientcoinsthatthecollectingofcoinsitselfbecameknownasthe“hobbyofkings”.Nowadaystherearemillionsofcoincollectorstheworldoverandmanyarediscoveringthatowninganancientcoinneednotbehopelesslyexpensive.Europeanmetaldetectoristsarefindingcoinsinrecordnumbersofeveryculturethatmadethem.Whilethesilverandgoldonesaresolddirectlytodealersmanyofthecoppers,whicharefoundinthehundredsofthousands everyyear,areindividuallytoodifficultand/ordamagedtorestore.Thesearethereforeoftensoldintheiras-foundstateforaslittleasadollarortwoeach.Anywould-bearchaeologistthenhasthechancetorestore,attributeandvaluetheirancientcoinandintheprocesshavealotoffunlearningaboutancienthistory.

Denominations

Romancoinscameinmanydifferentdenominations.Theweightandmetaltypeofeachcoindeterminedhowmuchpurchasingpowereachcoinhad.Eventually,coindesignswouldtoacertainextentexplicitlystatethevalueofthecoinbutitisuncertainwhethertheseofficialvalueswerehonoredbymerchantsandthepublicingeneral.TheabsolutebaseunitinRomancoinageistheUncia,asmallcoppercointhesizeofasmallbuttonwhichwasnevstruckinlargequantitiesandistodayveryrare.16UnciaeareequivalenttoanAswhichisthefirstcommerciallyfunctionalcoin.Inturn,16 AssesmakeupthefamousDenarius ,asilver,U.S.-dimesizedcoinwhichcirculatedforhundredsofyearsandinfluencedcoinageinjustabouteverysuccessiveWesterncultureupintomoderntimes. Althoughafascinatingsubject,it‟sdisappointingtolearnthatwelackagoodunderstandingofwhattheactualvalueRomancoinswere.Necessaryfoodstapleswereoftenheavilysubsidizedbythegovernmenttoensuretheiraccessibility.Theemperorandhisofficialsunderstoodthatahungrycitizenrywasagraveliability.Whatrecordssurvive,therefore,tendtopointoutthesesetpricesbutthegoingrateforotherluxuriesislargelyspeculative.Forwhatit‟sworth,aroughsketchofsalarieswouldhaveagoldAureusorSolidusasamonth‟spayforanord inarysoldier.AndaDenariusortwocouldbeearnedinadaybyaskilledlaborer.Inturn,afamilymealconsistingofbreaoliveoil,wineandperhapssomemeatwouldcostaDenariusoroneofitsequivalents.Forearlyimperialcoinagetherelativevaluesareasfollows:1Aureus=2Quinarii=25Denarii=100Sestertii=200Dupondii=400Asses=800Quadrans=6,400UnciaeConsideringtheexpenseinlaborandmaterialsthatwasborneintheproductionofthesmall-changeQuadransandUnciait‟snothardtoseewhythesedenominationsexistedmoreasatheoreticalcurrencykeystonethanasrealcoins.



ThefirstcrackintheRomaneconomicalmachineappearedunderthereignofNerowhocutbackthepurityoftheDenariusfrom98%fineness(essentiallyaspureascouldpossiblyhavebeenrefinedonalargescalebasisbackthen)to93%.Thedebasementdidnotlinkupwithanofficialdecreaseinthenominalvalueofthecoinitselfsothattheextra5%silverwasclearandfreeprofitfortheemperor.However,ittookvirtuallynotimeforthepublicatlargetoseethattheoldDenariuswasintrinsicallyworthmorethanthenewone.Thiscreatedanimmediatehoardingoftheoldsilvercoinswhichcouldnowbemeltedandthensoldasscrap.Infact,findingtodayapre-reformDenariusisconsiderablymoredifficultandexpensivethanNero‟snewDenarii.FromthenoneachnewemperorloweredthefinenessoftheDenariiapercentortwosothatbythetimeofGordianthelastemperortoissuesignificantquantitiesofDenarii,aDenariuswasactuallynomorethanabout35%silverbyweight.Anotherunintendedeffectwasthatasthesilvercoinsbecamecheaperthecopperonesbecamemoreexpensive.Afterall,eachDenariuswasnowbeingmadebymoreandmorecoppertofillinforthemissingsilver.Whatwashappeningwasthata3gramsilvercoinwas2gramscopperbutthewholecoinwasstillvaluedatseveralmultiplesmorethantheSestertii,DupondiiandAsseswhichweighedbetween10-30gramsapiece.Therefore,ratherthanthgovernmentriskstrikingcoppercoinswhichwouldonlywindupbeingmelteditchosetonotstrikethemmuchinthefirstplace.

Goldontheotherhandwasconsideredsacred.Asmuchasitmayhavepainedeachemperortopartwithhisdwindlingsuppliesofitsmostpreciousmetalnosoldierwouldriskhislifeunlessitwasforrealgold.Notuntilthesituationhadgrownintoaseriesofdeepcrisesinthemiddleofthethirdcenturythatemperorsdecidedtotinkerwiththenextbestthing:theirweight.TheAureuswhichhadtraditionallyweighedbetween7-8gramseachwentasfardownasjustover2gramsunderthereignofGallienus.Howthepaymasterskeptastraightfaceonpaydayisanyone‟sguessandit‟squitepossiblethatthescamwasmasqueradedassalaryincreasesbypayingtwoorthreeotheseAureiwhile,ofcourse,thetotaloutlayofmetalwasstillbelowthetraditionalamount.Asthefinenessinsilverwassteadilylowered,andtheweightoftheAureusbecameerratic,newdenominationswerintroducedtofurtherblurthegovernment‟scost -cuttingschemesandattemptstocurbrampantinflation.ThesilverAntoninianuswasintroducedaroundtheyear215underCaracallaatanominalvalueoftwoDenariiand,forgold,thBiniowasintroducedafewyearslaterasadoubleAureus.SincegoldcoinswereneveramajorpartofeverydaycommercetheBiniowasanonstarterbuttheAntoninianusdrovetheDenariusintoextinctionwithin30yearsofitsintroduction.Andit,too,wouldsufferseveredebasementandreductioninweight.Bythemid-250‟stheAntreachedthecriticallowpointinthesilver -copperalloy,about18%,whereitnolongerresembledasilverycoinevenwhenfreshlyminted.Debasingthiscoinfurtherservednopracticalpurposebecausewasblatantlyobviousitwasnolongersilver.AdecisionwasthereforemadetostopmakingsilvercoinsaltogetherandsimplyapplyasilverwashtotheAntsasalastprocessingstepofthecoinblanks.Whennew,thesecoinslookedmuchbetterthantheprevious18%silverAnts.However,shortlyafterenteringcirculationthesilvercoatingworeoffacrossthehighpointsofthecointorevealthecopperbeneath.Manysuchcoincontinuedtocirculatelongafterthesilveringwasfullygoneandyettheywerestillofficiallyconsideredsilvercoins!Bytheearly290‟stheRomaneconomywasinastateofnear -collapseastheoldcurrencyvalueschedulesweremaintainedrelativetoasilvercoinagethatexistedonlyasadimmemory.TheemperorDiocletiansetintomotionaseriesofmonetaryreformsmeanttorectifythesituation.TheAntoninianuswassuspendedandnewdenominations

introducedincludinganewDenariusofhighsilvercontenttermed“Argenteus”(butofficiallyworth2.5Denariieach)andtheFolliswhichhadanegligibleamountofsilverbutwasasheftyasanoldAs.TheAureuswouldberebornundermorepredictableweightsaswellandthewholecoinagesystemwasoverhauledfromtoptobottominthehopesofstabilizingtheeconomy.Someofthedenominationscaughtonandsome,specificallytheArgenteus,wouldseeaquickdemiseduetothechroniclackofsilver.WhatlittlesilverwasinitiallybreathedintotheFolliswaspulledandtheweight,too,dwindledswiftlyfromahighofabout10guntilitwasasmallcoppercoinofabout2-3geachwithinafewyears‟time.ThisreducedFollisentersthefourthcenturyasthenewdefactostandardcoppercointoservethesamegenepurposeastheDenariusoftwocenturiesbefore(ifnottheactualbuyingpower).SinceitisunclearwhattheRomanofthetimecalledittoday‟snumismatistsgiveitthegenerictermofaclassthreebronzeorAE3forshort(AEistheabbreviationfor Aeratus ,Latinforcopper).



EventhoughduringthefourthcenturytheAE3iskingthereareseveralotherimportantdenominations.AfterDiocletian‟sreformssettleintoanewswingoverthefollowingyears,anewgoldstandardisintroducedunderConstantineIwiththeflagshipSolidus ,asuccessortotheoldAureuswhichisnowmadetounerringprecisionat72aRomanpoundofgold,orabout4.4gapiece.Itissosuccessfulthatitwasstillbeingmade500yearslaterunderByzantineemperorseasilyoutlastingtheDenariusitselfand,possibly,anyotherdenominationtothisage.Whiletherelationshipbetweenbronzecoinsandtheirsilverandgoldcousinsarepoorlyunderstoodtherelativevaluesbetweensilverandgoldareasfollows:1Solidus=2Semisses=3Tremisses=24SiliquaeTheSiliquaisthelastmajorsuccessortotheoldDenarius.Itisthinnerandlighteratonly2-3geachandneverapproachesthepopularityoftheDenarius.ExceptforrareoccasionsitistheonedenominationthatisnotsurvivedbthefalloftheRomanempireitselfin476.WhilethegoldandsilverremainstableintothefifthcenturyandbeyondthelastdaysoftheWesternhalfoftheRomanempireseethebronzecoinageshrinkquicklyintoamorassofteenycoppersknownasAE4‟s.Theysurvivelargequantitiestodaybutprovedifficulttoidentifyduetocarelessmintingmethodsandheavilydebasedalloyswhicfaredpoorlyinthesoilupontheirlossorburial.Thefollowingtableliststhemostimportantdenominationswithrarefractionsandmultiplesbeingomitted.

Main Roman Imperial Coin Denominations

Denomination Metal Weight Value Circ. Dates NotesAureus Gold 7-8g 25Denarii c.200BCE –

305CEWeightsfluctuatewildlymid-thirdcentury

Binio Gold 5.5-6g 2Aurei 251-310 Quinarius Gold 2.5-4g ½Aureus c.200BCE –

305CEWeightsfluctuatewildlymid-thirdcentury.Veryrare

Solidus Gold 4.4g 24Siliquae

310-c.963 TheSolidusisrebornasBasilI‟sHistamenonNomisma withsameweightandpurityuntilreplacedinthe1040‟sbytheHyperpyron.

Semissis Gold 2.25g ½Solidus 310-c.867 Rarepriorto6t century

Tremissis Gold 1.5g ⅓Solidus c.380-c.867 1-½Scripulum

Gold 1.7g 9Siliquae 310-c.380 Scripulumisameasureofweight.Ancientnameremainsunknown.Extremelyrare.

Denarius Silver 2.5-4g 4Sestertii 211BCE – 244CE

WeightswereneveradheredtoverystrictlybuttypicalDenariusinAugustantimeswas3.8gdroppingto3.4gby2ndcenturyandsometimesaslowas2gundertheSeverandynasty.Whenfirstintroducedin211BCEtheDenariuswastariffedat10Assesandwasretariffedto16Assesin118BCE.

CistophoricTetradrachms

Silver 10-12g 3Denarii 27BCE – 138CE

AdenominationmeantforuseintheeasternprovincestomimictraditionalsilvercoinageintheregionbutusingLatin

legendsandimperialportraits.Antoninianus Silver 3-5g 2Denarii 215-285 Thenameofthiscoininantiquityisunknown.PresentusageisnamedafterCaracallawhoseformalnamewasAntoninusandwhofirstintroducedthiscoin.TheradiatebronzecoinsunderDiocletianmaybeaseparatedenominationorsimplyasize-reducedAntoninianus.

Argenteus Silver 3-4g 2-½Denarii

c.290-c.310 AseverelydebasedArgenteusismintedinTrierfromc.310-319.NotealsothatthiscoinisessentiallythesameasthelightMiliarense.

Quinarius Silver 1.3g- ½ 211BCE – Rare



2g Denarius c.230CESiliqua Silver 1.5-3g 1/24t

Solidus310 – c.650 Weightswereerraticbutsteadily

diminishedovertimefromaround3gearlyontolessthan2gbythe5thcentury.AlthoughsporadicallymintedduringByzantinetimesithadbeenphasedoutofgeneralproductionbythe460‟s.

Miliarense Silver 3.5g-

5.2g

~2

Siliquae

310-c.717 TheMiliarensecomesinthreeseparate

weightcategoriesofuncertainvaluerelativetotheSiliquaorSolidusexceptasrawbullionweight.The“light”Miliarenseofapproximately3.5g,aregular~4.5gcoinandthe“heavy”miliarenseof~5.2g

Sestertius Bronze/Brass

22-30g ¼Denarius2Dupondii

23BCE – c.275

ItispossiblethattheSestertiuscontinuedtobestruckinextremelylimitedquantitiesuntilDiocletian‟sreforminoraroundtheyear285.However,aftertheSeverandynastytheSestertiusbecameincreasinglyscarceandunderweight,occasionallyfallingtounder10g.Priorto23BCEtheSestertiusexistedasararedenominationinsilver.Itsvaluehoweverhadalways

beenfixedtoaquarterofaDenarius.TheSestertiusandtheDupondiusaretypicallystruckfromOrichalcum ,abrassyalloy.

DoubleSestertius

Bronze 25-40g 2Sestertii 251-274 Usingtheconventionofradiatecrownsfordoublevalue,thedoubleSestertiusisanexoticdenominationbegununderTrajanDecius.Somerarepieceshavebeennotedweighingupwardsof44gbuttypicalweightshoveraround25g.ThelastdoubleSestertiiwereapparentlymintedduringthereignofAurelianataratheremaciated

weightof~17g.Dupondius Bronze/Brass

11-15g ½Sestertius

23BCE – c.260

Fromtheyear64forwardemperorsontheDupondiusaredepictedwitharadiatecrown.ThisvisualaideasesthedistinctionbetweenitandthelargerSestertiusandthesmallerAs.Empressesdonotgetasimilardistinctionuntilthe220‟swhenabustrestingonacrescentwasintroduced,afeaturewhichwasneverthoroughlyconsistentinuse.

As Copper/Bronze

10-12g ½Dupondius

c.280BCE – c.275

ItisoftenimpossibletotellforcertainwhetheracoinisaheavierthanusualAsoralightDupondiusonthosecoinsthatnormallylackaradiatecrown.

Semis Bronze 2-3g ½As c.210BCE – c.180CE

Rareandoftenstruckanonymously.Lastissueswereusedintheouterprovinces.

Quadrans Bronze 2.5-4g ½Semis c.210BCE – c.180CE

AE1 Bronze >25mm ? 360‟s JulianIIintroducesalargesilveredbronzecoinof~8.5g,quitepossiblyarebirthoftheFollis.ItiscontinuedbyJovianandstruckinverylimitedquantitiesbyValens&ValentinianIbeforedisappearing.Largecoppermedalsandso-called“contorniates”aremintedsporadicallyfromtheearly300‟sandwellintothe500‟s.Theywere



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rareintheirowntime,struckforceremonialpurposes,aspresentationpiecesorotherspecialoccasionsandunlikelytohaveenteredcirculationasmoney.

AE2 Bronze 22-25mm

2xAE3(?) 350-c.390 ThetypicalAE2weighs4-5gandissometimescalleda“Centenionalis”thoughthetermisfarfromuniversallyaccepted. AE2‟sfromthe5

thcenturyareexceedinglyrarebut,strangely,seemtohavehadalittlerevivalunderLeoIandhiswifeVerinainthe450‟s.

AE3 Bronze 16-22mm

? c.300-430 ThegreaterpartofextantancientRomancoinsfallunderthiscategory.Perhapshundredsofmillionswerestruckduringthefourthcenturyandseemtohaveservedasthegeneral-purposecoinincommerceoftheday.Theytypicallyweighabout3geachandwerelargelyphasedoutofproductionbythelastdecadeofthiscenturybuterraticproductioncontinueduntilAnastasius‟reformin498.

AE4 Bronze <16mm ? c.317-498 TheAE4istothefifthcenturywhattheAE3

wastothefifth.Theyarefoundtodayinlargequantitiesbutcarelessproductionprocesses,pooralloysandsmallsizeconspireagainsteasyidentification.

AE5(proposed)

Bronze <12mm ? c.380-498 ThisclassofbronzeisproposedtodifferentiatethemfromthelargerAE4‟sstruckinthefirsthalfofthe4thcenturywhichwereinitiallyconceivedasposthumouscoinsstruckinhonorofdeifiedemperorsandempressesandthenastheverylargeissueincelebrationofthere-foundingofByzantiumasConstantinople.

ThefirstmainstreamAE4‟sappearedlateinthe340‟sbutwereabandonedwithinadecadeuntil379whentheemperorGratianauthorizedthemintingofasmallcoinofabout12mmdiameter.ThissmallermodulewouldquicklyeclipsetheAE3inpopularityandisapparentlythemainengineofsmallcommercefortheentirefifthcenturywithlargerbronzesbecomingpracticallynonexistentduringthisperiod.Itsweighthoveredaround0.9-1.14gandbytheearly400‟ssettlesintoadiameterrangeofabout10mm.



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Coins of Other Ancient Cultures

InlearningaboutRomancoinsitishelpfultobeabletodistinguishthemfromotherancientcoins.Ashortguideispresentedoutliningthemajordifferencesbetweenthese.

Letusexaminefirstthecoinswhichwewillbedealingwithinthisbook.Romanimperialcoinsspanaperiodofover500yearsbeginning,technically,withthefirstissuesfollowingtheRomanSenate‟sbestowmentofthetitleAugustusonOctavianin27BCandgraduallyblendingintowhatwillbecomeknownastheByzantinecultureinthe6thcenturyDuringthisentireperiodalmosteverycoinmintedwithinthebordersoftheRomanempirewillfeaturearulerfromthpresentimperialcourtasaportraitontheobverseofeachandeverycoin.Thistraitaloneissoconsistentthatitbecomesaneasilyidentifiablesignaturewhichcanbeusedtoquicklyruleoutthemajorityofotherancientcoin-makingcultures.Thesecondmainfeaturesaretheinscriptionsthemselveswhichalthough1,500-2,000yearsoldarstilloftenperfectlyreadabletoanyonefamiliarwiththeLatinalphabet.Romanimperialcoinsarethemostplentifulandcheapestcoinsofantiquity.Itisthereforeasafebetthatanycoinfromantiquitythathasaperson‟sportraitand hasatleastpartiallyreadableLatinlegendscanbeassumedtobea

Romancoin.

Romanimperatorialcoinsimmediatelyprecedetheimperialperiod.ThisratherbriefnumismaticperiodextendsfromshortlybeforethedeathofJuliusCaesaruntilOctavianisgivenhistitleofAugustus;lessthan20yearsinall.Numismatically,thisperiodblendscharacteristicsoftheRomanrepublicanperiodbeforeandthecomingimperialagAmongthesearethefirstexamplesoflivingpersonsbeingfeaturedoncoins.Theimperatorialperiodissuessomegoldandcoppercoinagebutareofexcessiveraritytoday.TheRomaneconomduringthistimeisnearlymonopolizedbythesilverDenarius.



TheRepublicanperiodprecedestheImperatorialandtheRomancoinageofthedayisheavilyinfluencedbyGreekart.Fromabout200BCEuntilneartheendofJuliusCaesar‟slifethesecoinswillemploytheusualRomanrebadgedGreekgodswithLatininscriptionsbutareotherwisesimilarinmakeuptocontemporaryGreekcoins.AswasthecaswithimperatorialRome,theDenariusisthebackboneoftheeconomy.

TheGreeksweretheinventorsofcoins.Fromabout550BCEuntilconqueredbytheRomanstheystrikemillionsofcoinsinallmetalsbutprefersilverasthemediumofexhange.Greekcoinsundergoseveralperiodswherebytheartstyleschangesignificantly.ThecoinsmakeheavyuseoftraditionalGreekmythology.Asawhole,thewrittenwordimoderatedorunusedsoastonotcompetewiththeartwhichisgenerallyregardedtobethegreatestnumismaticlegacytheworldhaswitnessed.

ThereareseveralcontemporarycultureswhichissuedcoinsduringtheRomanimperialperiod.AfterthevariousGreeknationsfellonebyonetotheRomanstheskillsoftheirmoneyerswereputtogooduse.UnlikeotherregionswithintheRomanempiretheRomansallowedfortheissueoftheirownautonomouscoinageusingGreeklegendsandtraditionalthemessolongasthevariousRomangodsand,mostimportantly,theincumbentemperorwerefeaturedprominently.Asaclass,Romanprovincialcoins,ormorespecifically,Greekimperialasthey‟remoreappropriatelytermed,areverysimilartoRomanimperialcoinswiththeonlymajordifferencebeingtheuseofGreeklegends.TheywerealsorestrictedtobronzeandlimitedrunsofsilverbutnevergoldwhichwasaprivilegereservedforRomeonmostoccasions.Thelastoftheseprovincialcoinsarestruckinthelate200‟sandcoinswithGreeklegendswillnotreappearuntiltheByzantineperiod.



ImmediatelytotheeastinwhatisnowknownastheHolyLandcoinshadbeenmadeforcenturies.TheJewsandothernearbycivilizationsproducedadistinctivecoinageparallelingtheRomanimperialperiodandthenincorporatinsomeofitselementsaftertheregionwasannexedbytheRomans.AsidesfromtheuseofHebrewandotherarchaicalphabetsthecoinsscrupulouslyomitanyrepresentationoflivingbeings,particularlyhumans,whichwasconsideresacrilegious.

TheGreekandthenRomanempires‟mostformidableenemieswerethePersianswithwhomt heyconstantlyquarreled.TheyleftbehindasignificantbodyofnumismaticmaterialthatbeganshortlyaftertheGreeksthemselvesinventedcoinageandevolvedovertimeintothemodernIslamiccurrency.CoinsissuedinantiquitywilllookquiteexotictoWesterneyesfromtheinscrutableinscriptionstothedesigns.Portraitsfeatureequallyexoticheadgearanddress.

TheCeltswerenotonepeople.TheywereadiversenumberoftribesinhabitingallEuropeanregionsnotunderdireRomancontrol.TheyincludeSpanish,British,Germanicandnear-easternnationsofsemi-nomadicmakeupandlumpedtogetherundertheRomanpejorative“Barbarian”.Theextentoftheircoinagewaslimitedinsofarastheireconomiesweremoreprimitive.However,tradewasanimportantelementoftheirvariouscivilizationsandmanyfoundtheconvenienceofcoinage.ThestyleusedonCelticcoinsishardtoreigningivenhowdissimilarthevarioustribeswere.Mostuniquelydistinguishableistheirabstractedportraitureandrenditionofanimals,particularlyhorses.



MinorCeltictribesalongneartheRomanempire‟sborderswereinfluencedandoccasionallyevenRomanizedtoadegree.Whatcommercetheyengagedwithamongstthemselves,outsidersandRomansalikewaspresumablyfacilitatedwiththeiracquiredwealth,mainstreamRomancoinsandcoinsoftheirownmakingwhichcloselyresembledofficialissues.ThebulkofthesemimicRomanbronzesofthefourthcenturywithvaryingdegreesofcraftsmanshipbutallareconnectedbythethreadofilliterate“writing”inplaceoftrueinscriptions.

AfterthefourthcenturythesetribesamalgamatedwithotherCeltstoformnewtribesandwouldcontinuetocopythecoreRomancurrencywellintothesixthcentury,oftentakingcaretohonorthenominalByzantineemperorofthedawhowasstillregardedasthelegalsovereignoftheformerRomanlands.BronzesceasedtobemadeinanyappreciablequantitiesbutgoldproductionbeganinearnestunderthebanneroftheVandals,Ostrogoths,Avars,Merovingiansandmanyothers.

AstheRomaninfluencevanishedandtheByzantineinfluencewanedthesetribesnowbegantoslowlydisassociatethemselvesfromtheoldempireandinsteadissuedcoinshonoringtheirownkings.InthevacuumthatwaslefttheinhabitantsofWesternEuropegainedstrongeridentitiesandnewcultureswereborngivingwaytothemedievalperiod.Coincraftsmanshipwillforthenext1,000yearsbefarbelowthestandardsoftheGreeksandRomansandacquirealookandfeeluniqueandeasytoidentify.However,athoroughknowledgeofEuropeanmedievalcoinageisintricateanddifficulttomaster.Itwillnotbeuntilthe16thcenturywhenArabicnumeraldatingoncoinsandtheeventualintroductionofmachine-stampedcoinsthatthemodernageofcurrencyisborn.



x

MeanwhiletheByzantinescarryonthepoliticallegacyoftheRomansbycontinuingthenowancientimperialtraditioSpanningafullmillenniumtheByzantinecurrencyundergoesmanychangesovertheyears.TheendingsectionofthisbookintroducestheByzantineagewhilethecoinsarestillfullyindistinguishablefromtheirItaliancounterparts.fact,atthisstagethemintsinConstantinopolisandRomestillcloselycoordinatetheircoinproductiontogiveeveryappearanceofaseamlessmonetarysystemand,byextension,asolidlyunifiedempire.ThebookcloseswiththereignofAnastasiuswhoisapivotalfigureinreformingcoinageinanewdirectionthatbreawiththepast.NumismatichistoriansprefertopinthisdateasthestartoftheByzantineperiod.

Thereareotherculturesinancienttimeswherecoinswerestruck.Highlightedaboveareafewofthese.NexttothecoinsofPersia,Indiahasthemostextensivevarietywithmanydifferentkingdomsstrikinguniquedesignswhich

occasionallyborrowWesternelementsbutarealwaysinfusedwithahealthydoseofregionalrelevance.



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Identifying Roman Coins

Thefirststepinlearninganythingaboutacoinistobeabletodecipherthecluesgiveninitsdesign.Fortunately,Romanemperorswantedyoutoknowwhowaspicturedonthecoin‟sobverse.Evenbetter,theRomansgavebirthttheLatinalphabetmakingtheinscriptionsquitereadableassumingthey‟renottoowornormissing. Lastly,thecoinsthemselvesfollowverypredictableconventionsintheirdesignssothatwhatislearnedforonecoincanbeappliedinidentifyingthenext.

ThetypicalRomancoinwilllooksomethinglikethis:

Atfirstthatstringoflettersmayseemdauntingtointerpret.Whileeachletterappearsrecognizableitlookslikeonebig,alienword.Foralltheirinventiveness,theRomansseemtohaveranoutofsteamafterdesigningtheletterZan

theideaofspacingbetweenwordsneverreallycaughton.Dotsoccasionallyservethisfunctionbutnormallythecoiletteringwillbeallbuncheduplikeinthisphoto.TheLatinalphabetusedinRomantimesissomewhatshorterthantheEnglishone.TherearenoJ‟s,U‟sorY‟s.Instead,anIisusedwhereaJwouldnormallybefoundand,likewise,aVistheUorYstand-in.Allwritingisalwaysuppercase.Knowingthis,inthesamplephotothestringoflettersencodesnotonlythenameoftheemperor,inthiscaseMaximianwhichisreadablestartingthethirdletterin,butalsoseveralofhistitles.Sincethereweremanytitlesbestowedonemperorstheonlywaytocramthemintotheavailablespacewastoabbreviatethem.InthisparticularcointhefirsttwolettersareDandNwhichstandinLatinforDominusNoster (OurLord),thenMAXIMIANO(aLatinformofthenameMaximian),FELICISSIMO(roughlytranslatingto“mostdutiful”),thenSEN(shortforsenior)andlastlyAVGforAugustus,themostimportantimperialtitle.AliterateRomanbackthenwouldunderstandthisinscriptiontomeansomethinglike“OurLordMaximian,mostdutifulseniorAugustus”. ThereversereadsPROVIDENTIADEORVMQVIESAVGG.BreakingthisupyieldsProvidentiaDeorvmQviesAvggwhichtranslatesto“BytheprovidenceoftheGodsthereispeace”.Thisparticularcoinspeaksthereforeofthepeacefultransitionofpowerfromtheemperor,Maximian,tohisappointedsuccessor.Othercoinswillfollowthisbasicprincipleandtheconnectiontomoderncoinsshouldbeobvioustherebymakingtheidentificationofeachoneeasier.Ontheotherhand,manyancientcoinswillprovemoredifficulttofigureoutbecausthey‟reworn,damagedorhavelegendsthataretoodifficulttomakeout.Thosefeaturesthatarevisiblewillhavetosufficeincorrectlyattributingthecoin.Itisunfortunatelynotunusualtofindacointhatresistsidentificationbecausethereissimplytoolittletogoon.However,eveninthesecasesitshouldatleastbepossibletodeterminetheapproximateageandregionofthecoin.



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How to Use This Book

Inthefollowingpagesyouwillfindaformatthatwillbecomefamiliarfromemperortoemperor.Afterashortbiographknowncoininscriptionsanddesignsarebrokendownintofourparts.Noteverylegendwillbefoundwitheverybustreversetypeandtheknowncombinationsaregiveninanumberedlistingknownasacatalog .Theavailablephotographsofthebustsandreversedesignsarethenorganizedintoplatesattheendofthesection.

1. Thenameoftherulerfollowedbytitleandreigndates.Inthecaseofempressesdatesgivenareforwhenthey

werebornanddied.2. Ashortbiographyoftheruler.3. Notesontheavailabilityandgeneralpricingofhisorhercoins.



4. Knownbusttypesforthisruler.Thegeneralorderofdescriptionistolistfirstwhat,ifanythingiswornontheheadandthencontinuetolistthetypeofdressvisibleonthebustand,finally,whatevertheeffigymightbeholdingwithhisrighthindfollowedbyhislefthand.

Inafewcasescoinobverseswillhaveadesignratherthanaportrait.Aletteredlistingwillfollowwithknowntypes.

5. Obverselegendsknownfortheruler,arrangedalphabetically.6. Reverselegends.7. Descriptionofknowntypes.

8. Mintlocation.Citynameisgivenasknowninantiquity.Seeelsewhereinintroductorysectionforcurrentname

andlocation.

9. Metaltypeanddenomination.AUisforgold,ARsilverandAEiscopper.

10. Referencestolistingsinothercatalogsforthesamecatalogareprovidedwhereresearchedand/oravailable.Blankspacesinthisfieldmaymeaneitherthatthecoinisunlistedorislistedinaworknotresearchedbytheauthor.

11. Photographsofthebustsandtypes.Photographsarenottoscale.

12. Catalogentriesareprovidedinanumberedsequencethatincludesthemostcommonknowncombinationsofthbusts,typesandlegends.Inaddition,mintmarksandtheoccasionalnoteuniquetothislistingwillbeenteredaftthecombination.Alistingthatreads,forexample,B1,O1,R05,T20simplymeansthatacoinisknownwithbustnumber1,obverselegendnumberone,reverselegendfiveandreversetypenumber20.Leadingzeroesareaddedwherenecessaryinordertomaketheheadingslineupandsortcorrectly.Thenumbersresetforthenextruler.Whereacoinhasfieldmarkingsinadditiontotheexerguea“/”willseparatethefieldfromtheexergue.AcointhereforethathasanAinoneofitsreversefieldsandXXXintheexerguewillbedescribedasA/XXX.IfacoinhasfieldmarkingsinbothfieldsitmightthenreadA/B/XXX.Wherethearrangementmaypresentconfusionadditionalcommentswillbeprovided.



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Mintmarks

ForhundredsofyearsRomekeptacloseeyeontheoutputofitscoins.Astherewereonlyafewmintsoperationalatanonetime,withRomeitselfreservingthelion‟sshareofthisoutput,qualitycontrolandaccuratebookkeepingwasataskthatthemintofficialscouldhandlewithoutresortingtothepracticeofplacingmarksonthecoinsthemselvestoknowwhwasgoingon.However,nearthelatterhalfofthethirdcentury,thequalityofthecoinshadsufferedgreatlyunderthestressofinflationandacentralizedsystemmadeforanimpracticalwayofdistributingthe(cheaper)currencybeingmadItwasatthistimethatmintmarkingreallybegantotakeholdand,withinafewyears,theprocesshadbecomethemost

intricateandmethodicaltheworldwouldeverwitness.Althoughsilverandgoldwouldeventuallygetsomemintmarkshereandthereitwasthelowvaluebronzedenominatiowhichreceivedfullattentioninthisarea.Oddly,downtotheverylastdaysbeforethefallofRomeeventhesorriestlittlecopperwouldbedulyimpressedwiththemarkofitscityoforiginand,frequently,itsofficina aswell.Thebigideathereforewasforthegovernmenttokeeptrackofwhowasmakingwhatandhowmuchofit.Specieingoldandsilverhadsuchtightcontrolsthatgeneralaccountingpracticesweregenerallysufficienttominimizecorruptionandfraud.Coppercoinageontheotherhandwasbeingproducedonaverymassivescale.Eachminteachyearmayhavemadehundredsofmillions ofcoinsand,notsurprisingly,mostwereofthecoppervarietymeantforgeneralcirculation.Thisscaleofmanufacturewouldnotberepeatedagainuntiltheindustrialagesoasystemforallthosecoinscomingintcirculationwasimperative.Thetreasury‟sprimaryneedinaccountingwastomakesurethecorrectnumberofcoinswerebeingmadetopayoffthe

government‟sexpenditures.Eachmintwasthereforeboundtoanumberofrulesthattheyweretofollowbothforaccountingaswellastoensureasupplyofcoinsthatwereasseamlessintermsoflookandfeelfromoneminttothenext.Designswerethereforecarefullycoordinatedbetweenthevariousmintsandforspecificlengthsoftime.Thepainstakingpracticeofensuringthateverysinglecoinlookedessentiallyidenticalfromoneendoftheempiretotheotheandalevelofdetailthatdictatedtheprecise,hyper-correctplacementofindividuallettersandotherdesignelementscanbeconsideredaspartofthequintessentiallyRomanwayofprecisionengineering.TheveryfirstmintmarksemployedundertheRomanimperialperiodusuallyconsistedofcrypticsymbolsjustmeanttorevealthecityoforigin.Thispracticewasfarfromwidespreadandgiventhenormalvariancesfromregiontoregionitisnowknownwithoutdoubtthatsomecoinsweremadeincertainlocationsoratleastgeneralareasevenwithoutthesemintmarksbasedonstylisticdifferencesalone.Butthesedifferencesweremuchtoosubtleforadministratorstobotherwith.Whentheneedpresenteditselfthemintmarkingsystemwasputintoplaceandwithinamatterofafewyearsthepracticewasmoreorlessstandardizedacrosshundredsofthousandsofsquaremiles.

Nosoonerthanexplicitmintmarksbeginappearingthidentifyeachcityoforiginthanitbecomesnecessarybreakitdownfurtherintoindividualseriesand,asnotabove,oftentheofficinaeinvolvedtoo.AtypicallateRomanbronzewilloftencarryadditionalsymbolsthatrevealseparateproductionruns.Understandingthissystemiscomplexandtheirmeaningsarenotalwaysuniversallyagreedupon.Bugenerallyspeakingsomeconventionscanbefollowedwithenoughconsistencythattheysoonbecomefamiltothecollector.Thefirststepthenistoidentifythenameandlocationallthesemints.Themaponthefollowingpageidentif

themainonesinoperationduringthefourthandfifthcenturies.



xv

Inadditiontotheabovelocations,severalothercitieshostedmintoperationsduringbriefperiods.Sometimesanemperoonawarcampaignchosetobringalongthesefacilitiestoensureacloseeyeonthesoldiers‟payr oll.Apartiallistofminmintsincludes:Ambianum – Amiens,FranceBarcino – Barcelona,SpainCarnuntum – nearVienna,AustriaColoniaAgrippinensis – Cologne,GermanyLaodiceiaadMare – Laodikeia,SyriaOstia – nearRome,Italy

Palmyra – nearTadmur,SyriaNarboMartius – Narbonne,FranceTarraco – Tarragona,SpainTripolis – Tripolis,TurkeyViminacium – Kostolac,Yugoslavia

Nowthatwe‟vetakenabriefoverviewoftheirnamesandlocationslet‟stakealookatthemintmarksthemselves.Thesimplesttypeofmintmarkjustwantstoidentifyicityofmintageandthefirstthingtorememberisthatalmostalwayswillbelocatedonthebottomofthereverseofthecoin.Thisarea,typicallydelineatedbylineseparatingthedesignfromthemintmarkitself,iscalledtheexergue .ThisbronzecoinbelongingtoConstantiusGallus,aminorfigureofthefourthcentuwasmintedinSirmiumgiventhereadablestringASIRM).TheAandthedotwouldhaveprovidedan

administratorextrainformationusefulinpinningdownwhowasresponsibleformakingthecoinandatwhatapproximatetime.Onemightconsiderhowthislevelofdetailhasnevertothisdaybeenfoundagainandshouldgivepausetowonde justhowmeticulousthesepeoplewere!Inthemeantimeandforthepurposeofcrackingthesystemletusrememberthathemintcitywillbeanabbreviationconsistingofonetoseverallettersandwillusuallybeembeddedwithadditionalsymbols.Learninghowtheyabbreviatedtheircitynamesisusuallythefirststepinrecognizingwhereaparticularcoinwmade.Relativelyfew,unfortunately,aregenerousenoughtospelloutthefirstfourlettersofthecitynamelikeinthisexample!Barringthemanyexceptionsthatwillbefound,someformsofusagepredominate:Alexandria:ALEAntioch:ANTorANA



xv

Arles:A,ARL,CONS(afterbeingrenamedConstantiainthefourthcentury.TodistinguishfromConstantinopletheofficinaletteralwaysprecedestheCONSinArlesandalwayscomesaftertheCONSforConstantinopleissues)Aquileia:AQConstantinople:CONorCONSCyzicus:K,KYZorMKVHeraclea:H,HT,HERACLorHERACLondon:L,MLorLONLugdunum(Lyons):LGorLVGNicomedia:N,NIC,NIKORome:RorRFSirmium:SIRMSiscia:SISorSISCThessalonica:TESorTSTicinum:TTrier:TR

Wheneverpossible,theabove“keys”shouldbevisuallyisolatedfromothersymbolsprecedingorstuckonassuffixes.AnotherverypopularconventionusedwastousetheformSMxywherexwouldbethe1-to3-lettercitycodefollowedby,theofficina.SMstoodforSacraMoneta (sacredmint).Theofficinaissimplyandliterallytheofficeorinternaldepartmentinchargeofmintingthecoins.Thephysicalbuildingthathousedthemachineryandstaffformintingcoinsmayhavehaduptoadozenormoresimultaneouslyoperating

officinae .Sometimeseachofficinawouldbegiventhetaskofdedicatingitsoutputtoacertaindesignoremperorbutmotypicallytheysharedequallyintheoutput.Eachwasthereforeexpectedtostamptheircoinswiththesignatureoftheircrew;all,again,forthesakeoffullaccounting.Theofficinaewereidentifiedbyanumberingsystemwhosenomenclaturedependedontheirgenerallocation.Citiesinthewesternhalfoftheempirenormallyusedanordinalsequencewhereyowouldhavethefirst,second,thirdandsoonofficinae.ThisbeingLatin,theywouldhaveusedthewordsprima,secondatertia,qvarta,etc.Theywouldthenusethefirstletterofeachordinalalongwiththecitycode.Forexample,acoinfromRomecouldhaveamintmarkRP(RomaPrima )whichwouldindicatethatitcamefromthefirstofficina.JustasoftenyoucouldhavetheofficinaletterprecedethecitycodesothataQAwouldindicatethefourthofficinaforArles.Alogisticproblemoccurswhenwearriveatthefifthofficina,qvinta inLatin,becausethereisobviouslynowaytodistinguishbetweentheQforqvartaandqvinta.TheRomansevidentlydidn‟tburntoomanymentalcaloriesonthisoneandinthesecasesjustgrabbedthefifthGreekalphabetletterE.OntheratherrareinstanceswhereasixthorgreaternumberofficinawasoperatingtheyresortedtousingmoreGreekcharacters.TheeasternmintcitiestendtouselettersfromtheGreekalphabettoaccomplishthesametask.ThesequencebeginsA,B,Γ,Δ,E,S,Z,H,ӨandI.Theycangofurtherforseriesthatwereverypopular,forexampleaΔEwouldbethesumoflettervalues4and5fromtheabovesequencetoarriveatthe9thofficina.Normallyhoweveronlythefirstfourtofiveletterswereusedand,bythefifthcenturywhenfewercoinswerebeingmade,itwasusualtohaveonlyAandBoperatingMattersbecometrickierwhenunrelatedsymbolsgetappendedtothesecodesbutthegeneralformshould

berecognizableastheancillarysymbolschangefrequentlyfromissuetoissuewhiletherelativepositionofthecitycodeandofficinadosolessoften.Wherethecollectorcomesacrossacoinwithmanylettersandsymbolsjumbledtogetheritmightwellbedauntingtosortitalloutbutwithincreasingfamiliaritywiththesystemitisonlyamatteroftimebeforeacasualglancewilltellyouallyouneedtoknowtoidentifyeachcoin...provided,ofcourse,thatthemintmarkisstillvisible.



x

Pricing and Grading

Almosteverycoincollectorisinterested,ifnotobsessed,withtheworthoftheircoins.Despitetheoccasional,overly-seriousnumismatistadmonishingthenewerhobbyistinplayingthisdowninfavorofjustlearningandstudyingthecoinsthetruthisthatitisanintegralpartofthefun ofcollecting.Thecollectorthereforedesperatelyneedsapricingguidetoknowwhattoexpectwhenaddingorsellingpiecesfromthecollection.

Ican‟tdothat.Therearenoshortageofpricingguidesoutthereforancientcoinsbutthebittertruthisthatthey‟realllaughablyinaccurateandintheendupconfusingmorethangivingreal-worlduse.Thereareseveralreasonsforthis.Unlikethecasewithmoderncoinsthereareno„populationreports‟toindicatehowrareorcommoneachcointypeisinanabsolutesense.Overtime,coinsthatwerepreviouslyrarebecomelesssothankstonewhoarddiscoveriesandsometimescoinsthataretemporarilyplentifulvanishfromthemarketplace.Thenthereistheissueofwhereyoubuyandsellcoins.Anexclusivedealermaylistagivencoinforseveralhundreddollarswhileanothercanoffertheverysametypefora$100andyoucouldspotthesameoneBayfor$50.IthappensALLthetime.Inlightofthisthereislittlepointintakingthetroubletogiveevenaroughpricerangeforeachcoincatalogued.Dependionyourpersonalleveltostomachriskandhowmuchresearchyouwantdoneonyourbehalfyouwillfeelcomfortable

shoppinginavenuewherepricesshouldbemoreorlessstableforthattier.Thisultimatelywillbethetruelearninggrounds.However,thisbookatleastnotesgeneraltrendsforeachemperorandwherepossiblefurtherbrokendownbythemajordenominations.Thisshouldhopefullybeenoughtospurthecollectortodoalittlecomparativeresearchtoidentifywhatisabargainandwhatisclearlyoverpriced.EverycoinbookgearedtowardsthecollectorwillrepeatthemantraaboutgradingandconservationandIwillbepedantenoughtorepeatithere.Itisanunwaveringtruismthatconservationbeatsrarityinallbutthemostextremecases.Unleyouhavecomeacrossamajorrarityassumethattheworthofyourcoinwillverylargelydependonitsvisualappeal.AnancientgoldcoinwillinmostcaseslookmintstateornearlysobecauseitlikelytradedhandsinfrequentlyuntilitwaslosBronzesontheotherhandrangefromtheabominabletostrikinglywellpreserved(butshouldnever lookcopperylikemodern,untonedcoppercoins.Thisisanunequivocalindicationofharshcleaning!).Silvercoinstendtobefairlywellpreservedbutwillshowthemostwearsincemanyofthemtradedformanydecades.Amintstatecoinwillcommandapremium.Theruleofthumbisthatincoinsbeautysellsandrarityisonlyasecondary

factorindeterminingvalue.Ofcourse,this“rule”applies onlyinageneralsense.ArarecoinbeitfortypeorrulerWILLbmarketableassumingadecentstateofpreservationandtheraresttypes/rulerswillstilbeverysoughtevenwhenpoorlypreserved.However,apoorlypreservedrathercommoncoinwillfindalmostnointerestamongyourfellowcollectors.Sowhatarethegradingstandards?Justasisthecasewithmoderncoinsancientsaregradedalongmuchthesamelines.OnecanevengetanancientcoinslabbedjustlikeamoderncoinandwillcarryagradeusingtheAmericangradinstandard...apracticethatfindsquitelittlesupportamongdie-hardancientcoinenthusiasts.Butthisbookdoesnotconcernitselfwithgradesforthesimplereasonthatnowadaysgradingancientcoinsislargelyirrelevant.Unlikethemaiordercatalogsofyearsgonebyonetypicallybuysacoinfromawell-photographedcointodayinaglossycolorcatalog,theinternetoronsiteatacoinshow.Thereisthereforelittleneedforagradeassuchsincethevisualconfirmationofwhatyouwouldbegettingisinfinitelymoreusefulthantheinformationconveyedbyanassignedgradeofquestionablevalue.

Forwhatit‟sworth,let‟sexaminewhatthegeneralconsensusisregardinggrading:

RatherthanwastetimewithaneuphemisticgradesofAG,GorVG,thelowestrungofcollectibleancientRomancoinsarethankfullyjustdescribedimperfectastheyare.Inmostcaseswearassuchwon‟tbethemajor issuewiththesecoins



butratherunsightlytoning,diecracksand/orotherstructuralproblems,orabadcaseofcorrosion.Coinswithanybutasmallpartbrokenoffarehardlyeverworthanythingonthemarket.

Thosecoinsgraded“fine”willbefoundtobeessentiallyintactintermsofoveralldesignbutwithaconsiderableportionoitsinitialdetailwornofforobscuredbycorrosion.Thisrepresentsthebulkofancientcoinsavailabletoday.

YouwouldexpectaRomancoininVeryFineorVFconditiontobeoverallproblem-freeandwithallitsmajorfeaturesvisible.Somewearand/orsmallimperfectionsaretobeexpectedincludingcoinsthatareslightlyoff-center.

AnEF(extremelyfine)coinisinpracticethehighestgradecoinyoucanhopetocomeacross.Exceptingcoinsgiventheholy-grailgradeofFDC,seenext,whichprobablynouniversalbodyofnumismatistswillagreeonbytheway,theEFcoisasgoodasitgets.Toachievethisgradeitshouldhaveonlyatouchofwear(ifnotoutrightmintstate),bewellcenterestruckfromnewdies,bewholeineverywayandbasicallysay“Hey,I‟mbeautifulandperfect.Buyme”. ItwillberaretofindabonafideEFbronze.

FDCisFrenchforFleurdeCoin,theneplusultra ofthenumismaticworld.It‟satermunfortunatelymuchabusedbybot

theinexperiencedandthoseofshakymoralswhowillindiscriminatelygiveanycointhegradewithoutasecondthought,oftenaddingafewseeminglypre-requisite+or!signstodrivehomethepoint.Sigh.ArealFDCcoinneedsnosuchgimmickyhypeforitshouldbeinstantlybreathtakingandconsideredtheveryparadigmofthattype.Infact,apuristwillsaythatbydefinitionthisexcludesallbronzesbymerereasonoftheirtoningwhich,howeverattractive,hasdegradedthemfromperfection.Whatever.It‟soktoignoreanycoinmarketedasFDCthatdoesnotinstantlydazzle. Inasense,solongasyoucanrelyonthepicture,it‟soktoigno reany assignedgrade:-)



x

Bibliography

R.A.G.CarsonandJ.P.C.Kent.LateRomanBronzeCoinage.NewYork:SanfordJ.Durst,1989.HaroldMattinglyandEdwardA.Sydenham.TheRomanImperialCoinageVol.I.London:Spink&Son,Ltd.,1923C.H.V.Sutherland.TheRomanImperialCoinageVol.1.London:SpinkandSon,1984

HaroldMattinglyandEdwardA.Sydenham.TheRomanImperialCoinageVol.II.London:Spink&Son,Ltd.,1926HaroldMattinglyandEdwardA.Sydenham.TheRomanImperialCoinageVol.III.London:Spink&Son,Ltd.,1930HaroldMattingly,EdwardA.SydenhamandC.H.V.Sutherland.TheRomanImperialCoinageVol.IVpt.1.London:Spink&Son,Ltd.,1936HaroldMattingly,EdwardA.SydenhamandC.H.V.Sutherland.TheRomanImperialCoinageVol.IVpt.2.London:Spink&Son,Ltd.,1938HaroldMattingly,EdwardA.SydenhamandC.H.V.Sutherland.TheRomanImperialCoinageVol.IVpt.2.London:Spink&Son,Ltd.,1949HaroldMattingly,EdwardA.SydenhamandPercyH.Webb.TheRomanImperialCoinageVol.Vpt.1.London:Spink&Son,Ltd.,1927HaroldMattingly,EdwardA.SydenhamandPercyH.Webb.TheRomanImperialCoinageVol.Vpt.2.London:Spink&Son,Ltd.,1933C.H.V.SutherlandandR.A.G.Carson.TheRomanImperialCoinageVol.VI.London:Spink&Son,Ltd.,1967C.H.V.SutherlandandR.A.G.Carson.TheRomanImperialCoinageVol.VII.London:Spink&Son,Ltd.,1966

J.P.CKent.TheRomanImperialCoinageVol.VIII.London:Spink&Son,Ltd.,1981J.W.E.Pearce.TheRomanImperialCoinageVol.IX.London:Spink&Son,Ltd.,1951

J.P.CKent.TheRomanImperialCoinageVol.X.London:Spink&Son,Ltd.,1994DavidR.Sear.ByzantineCoinsAndTheirValues.London:Seaby,Ltd.,1987

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eric section2 intro

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