There are many misconceptions regarding ancient coins. Many coin collectors believe that these coins are too rare, too costly to acquire or are too challenging to understand. While some coins from antiquity are indeed rare and extremely expensive, others are less so. Great civilizations and leaders during ancient times produced coins in sizeable quantities, so much so that coins from places such as Athens and Rome are more common than you think. Understanding ancient coins and the value they can bring to your collection can be extremely rewarding.

The History of Coinage

It must first be noted that most mainstream coin shops and online dealers do not carry ancient coins. This is one factor that has fueled the misconception that many collectors have regarding them, that they can only be acquired by museums or the super-rich. However, because the world’s first coins begin appearing around approximately the 7^th Century B.C., mankind has had thousands of years to produce ancient coins in quantities which would allow them to be acquired affordably today, even without modern mint equipment.

The world’s first coins were struck using electrum, a silver/gold alloy which occurs naturally and was located within placer deposits. Overtime, man learned how to split the silver from the gold, and coins started to be issued in the form of currency which was bimetallic. The world’s very first coins are said to have first been struck in Asia Minor after which the practice spread to the Mediterranean and beyond. Various city states begin to feature their own distinct coins with unique designs and these pieces were used both for propaganda and promotional purposes.

Ancient coins were hand produced by pouring the molten metal inside molds to create a flan, which was the coin’s blank piece. After the flan had time to cool it would then be reheated beneath the metal’s melting point and put on a die. This die was made of metal and contained the image desired to be engraved on the coin. A second die would then be hammered into the flan’s top to produce the coin’s image. Each die was hand carved by a celator.

Where and How to Buy Ancient Coins

The majority of the ancient coins sold on the market today were found in hoards buried in the ground. They were discovered by individuals using metal detectors and are then placed on the market to be sold for profit. One of the best ways to purchase ancient coins is through a catalog that is fixed price. It is essential to research and read reviews of the dealer to make sure they are reputable and that the coins they sell are authentic.

Auctions are another good way to acquire ancient coins, but only if you have experience with the process. While most coin shops do not specialize in ancient coins it is possible to find ancient coin dealers in major cities such as New York or Los Angeles. You can also acquire these coins from coin shows but conduct your own research to learn how to separate authentic coins from fakes.