Ancient Coin Collecting Can Be An Absorbing And Profitable Hobby

Humans have, and do, collect just about anything – from amulets to zippers! This article focuses on the absorbing hobby of collecting ancient coins for sale - a hobby that can result in financial rewards as well.

So Just What Coins are Considered Ancient?

Unfortunately that wartime quarter your granddad gave you as a kid doesn't cut it, as the settled definition is that the coin must have been minted before the end of the Mongol era in circa 1260 AD. As a matter of interest, he first known coins were minted by the Ancient Greeks around 500 BC.

There's Plenty of Knowledge out There

• Before you set about beginning a collection of ancient coins, it is wise (and fascinating) to get an idea of the scope of the market, and particularly to see at least one renowned collection. The Smithsonian Museum in Washington DC has a magnificent collection of nearly half a million ancient coins, and if you have the opportunity it is well worth a visit.
• If your trip to the Smithsonian has to wait for the time being, there are many online sources of information for you, including ancient coin videos made by avid collectors and even academics in the field.

It Doesn't Have to be Gold to be Precious

Ancient coins were minted from a variety of metals, with copper, silver, and bronze being the most common.

In fact, in ancient times gold coins were not commonly used, as that precious metal was considered to be too soft and much better suited to jewelry or ornaments. In 2011, an ancient silver Greek coin (a one drachma piece) owned by a private American collector was valued at a cool 3.3 million dollars. Considering that a drachma was worth around four cents in 2001 when it was replaced by the Euro, this is a stunning example of reverse inflation at work!

A sound and economical way to begin a collection of ancient coins is to ignore the metal they're minted from and instead concentrate on sourcing the best examples of each one that are available – budget permitting of course.

What Affects the Value of an Ancient Coin?

As its age is pretty much out of contention – as if it is ancient, then it's already got a wealth of age on its side - here are some factors to look for when assessing the likely value of an ancient coin.

Rarity

As with just about every collectable, the more uncommon an ancient coin is, the more potentially valuable it is. While Roman coins typically have beautiful, intricate designs, they are not considered rare as a group. The Romans were unrelenting colonizers and as a result they left their coins in large numbers across European and North-African countries.

Conversely, ancient Greek coins have greater rarity and therefore usually a higher value. The Greeks were the first known society to mint coins, and it appears that for centuries they didn't distribute many of them outside of their nation. Most of their trading partners had no use for these mysterious Greek metal discs, and so opted for barter instead. If you want to begin a collection with quality over quantity, a few ancient Greeks coins are a great way to go.

Damage

All ancient coins are, by their very nature - old, and have been exposed to nature for a very long time. No collector of ancient coins expects wear free samples to turn up, but there are a couple of features that can reduce a coin's value.

Over-cleaning

There is a trap for new enthusiasts here, as they often have the urge to clean and polish an ancient coin. Don't! An important element of its worth is what is known as the 'patina of age', so the best practice is to leave an ancient coin as you found or bought it.

Fractures

Copper and silver are highly malleable base metals, but the compound of Bronze is a good deal more brittle. While fractures in ancient bronze coins are to be expected, it does decrease their value - as does having a fragment of a coin. When you are starting out with your collection it is advisable to stick to whole coins without fractures. In particular be especially wary of vendors selling you on the 'legend of the fracture'* as a value-adding feature.

*Unscrupulous vendors may offer up some written legend on a piece of tattered and aged paper, telling of how this very coin was bent out of shape by the tip of an enemy soldier's spear in some ancient battle. Forget it – these stories might be entertaining but are wholly unreliable.

Over time, a collection of carefully chosen ancient coins will bring you a lot of enjoyment and knowledge, and just maybe a very sound investment as well!

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