A Beginner’s Guide to Investing in Roman Coins

The Roman Empire did everything on a grand scale. Although it was not the only major civilization in ancient history, its breadth and its overlap with the rise of Christianity have made it one of the best known.

One of the many things the Roman Empire did was mint coins —lots of them. An exact count is impossible, but estimates suggest billions of coins were produced over the life of the Empire.

There were roughly a dozen to twenty active mints scattered throughout the Empire at various times, and all of them were highly productive. Roman minting output was enormous for its era — rivaling the lifetime production of some modern mints — despite relying on ancient hand-struck methods rather than machines.

There are plenty of Roman coins available to collectors today. So, let’s discuss the different Roman coins that a beginning investor might consider purchasing, or at least keep an eye out for when building a collection.

What Are Rare Roman Coins That Collectors Covet?

The Romans struck coins in gold, silver, bronze, and copper, creating nearly a dozen denominations over the centuries.

At the time, a coin’s value corresponded to the value of its metal. Gold was used for the aureus, which was worth about 25 silver denarii, and each denarius was worth roughly four sestertii.

For collectors, though, the metal content is far less important than the emperor, condition, rarity, and historical appeal of the coin. Coins with clear portraits, notable emperors, or famous designs tend to attract the most attention.

Some of the most coveted Roman coins include:

• EID MAR Aureus of Brutus: A gold coin celebrating the assassination of Julius Caesar by Brutus and other senators — one of the most famous ancient coins ever struck.
• Galba Aureus: A rare gold coin minted during the brief reign of Galba, who ruled for just a few months in 68–69 AD — the “Year of the Four Emperors.”
• Domitianus II Antoninianus: A rare double-denarius coin from the breakaway Roman-Gallic Empire, known from only one or two surviving specimens.
• Titus Colosseum Sestertius: A large bronze coin featuring one of the earliest depictions of the Roman Colosseum. Only about ten are known to exist today.

Who Appears on These Coins?

Coins depicting prominent emperors or key moments in Roman history are the most desirable. If you start by asking who or what is on the coin, you’ll be well on your way to identifying something valuable.

Look for Roman coins featuring:

• Julius Caesar
• Augustus (also known as Octavian)
• Tiberius
• Caligula
• Claudius
• Nero
• Vespasian
• Trajan
• Hadrian
• Marcus Aurelius

In addition to famous emperors, coins commemorating iconic events, such as the assassination of Julius Caesar, the completion of the Colosseum, or Rome’s victories in the Jewish Revolt, are also highly collectible.

Keep in mind that older coins tend to be more valuable than later ones. Over time, the Empire debased its coinage, reducing silver and gold content, especially during the third century AD.

How Rare Are They?

Roman coin rarity varies enormously. Some types survive in the tens of thousands, while others are known from fewer than a dozen examples.

Naturally, the rarest issues command the highest prices. In addition to the coins listed above, notable rarities include:

• Augustus Aureus
• Marc Antony & Cleopatra Denarius
• Nero Port of Ostia Sestertius
• Julius Caesar Portrait Denarius

What Are the Values of These Coins?

Just as rarity varies, so do prices. Some Roman coins sell for millions, while others cost less than a meal.

• A gold EID MAR Aureus sold for about $4.2 million in 2020, setting a record for an ancient coin.
• Common bronze coins from the late Empire (4th–5th centuries AD) can often be found for under $10.
• Mid-grade silver denarii from the 2nd or 3rd centuries AD often sell in the $80–$100 range.

Even among older coins, condition, legibility, and emperor portrait quality can dramatically affect value.

Getting Started

Collecting Roman coins can be both fascinating and rewarding. As with any collectible, it’s important to buy from reputable dealers and ensure authenticity, since counterfeits do exist.

We’re happy to help you begin your journey into Roman coin collecting. Our inventory includes a variety of ancient coins, though availability can vary.

If you’d like to learn more or discuss your options, give us a call at 1-800-276-6508 (Monday–Friday, 8 a.m. – 6 p.m. CST). You can also send us an email anytime, day or night — our team will be glad to help.