Ancient Roman Coins
Coins minted 2,000 years ago — and still collectable today. Your complete guide to identifying, valuing, and collecting ancient Roman coins, from common bronze sestertii to rare gold aurei.
Ancient Roman coins are one of the most accessible entry points in the world of ancient numismatics. Unlike many historical artifacts, Roman coins survive in large quantities because the Roman Empire minted billions of them over seven centuries. Today you can own a genuine coin that passed through the hands of Roman citizens, soldiers, and merchants for as little as $5 — or invest in museum-quality rarities worth tens of thousands of dollars.
A Brief History of Roman Coinage
The Major Roman Coin Denominations
| Denomination | Metal | Period | Size | Typical Entry Price |
|---|---|---|---|---|
| Aureus | Gold | 1st c. BC – 4th c. AD | 19–22mm | $500 – $50,000+ |
| Solidus | Gold | 4th–5th c. AD | 20–21mm | $400 – $5,000 |
| Denarius | Silver | 3rd c. BC – 3rd c. AD | 17–21mm | $25 – $500+ |
| Antoninianus | Silver/Billon | 215 – 295 AD | 20–24mm | $15 – $150 |
| Sestertius | Brass (orichalcum) | 1st–3rd c. AD | 32–38mm | $30 – $1,000+ |
| Dupondius | Brass | 1st–3rd c. AD | 25–28mm | $20 – $200 |
| As | Copper | 3rd c. BC – 3rd c. AD | 24–29mm | $10 – $200 |
| Follis | Bronze/Copper | 294 – 5th c. AD | 20–28mm | $8 – $100 |
| AE4 (small bronze) | Bronze | 4th–5th c. AD | 9–17mm | $5 – $40 |
Most Collectible Roman Emperors and Their Coins
Augustus
Founder of the Roman Empire and one of history's most consequential rulers. His portrait denarii are among the most sought-after ancient coins. Common types are accessible; rare reverse types command significant premiums.
Nero
Nero's coins are wildly popular due to his historical notoriety. His early reign sestertii feature some of the finest portrait work in Roman numismatics. Later issues show the decline in his popularity and the empire.
Trajan
One of Rome's greatest military emperors, Trajan's coins are plentiful and well-struck. His Dacian war issues are especially prized. Excellent portrait quality makes these ideal for new collectors.
Hadrian
Hadrian's extensive travels produced remarkable "provincial" coin issues. His PROVINCIA BRITANNIA sestertius (rare) commemorates his famous wall in northern England. Common denarii are very affordable.
Marcus Aurelius
The philosopher-emperor and author of the Meditations. His stoic reputation and philosophical legacy make him a perennial favorite. His coins are plentiful in circulated grades and attractively priced.
Constantine I (The Great)
The first Christian emperor, Constantine transformed Roman religion and the empire. His SOLI INVICTO (to the unconquered sun) and GLORIA EXERCITVS (glory of the army) bronzes are plentiful and popular entry-level ancients.
Vespasian
Founder of the Flavian dynasty, Vespasian's coins commemorate his conquest of Judaea and the destruction of the Jewish Temple. The IVDAEA CAPTA sestertius is one of ancient numismatics' most historically significant types.
Pertinax
Reigned only 87 days before being assassinated by the Praetorian Guard. One of the rarest "Year of Five Emperors" coins — even a damaged example is worth $500+. A true rarity driven by historical significance.
Grading Ancient Coins
Ancient coins are graded differently from U.S. coins. The Sheldon numerical scale doesn't apply — instead, traditional descriptive grades are used, and surface preservation (patina, centering, strike) often matters as much as wear.
| Grade | Abbreviation | Description |
|---|---|---|
| Poor / Barbarous | P | Barely identifiable; date and legend unreadable. Historical value only. |
| Fair | F | Type identifiable, heavy wear, legend partially visible |
| About Good | aG | Heavily worn; outline only of design visible |
| Good | G | Design identifiable; major elements visible though flat |
| Very Good | VG | Design clear; some detail; legends readable |
| Fine | F (Fine) | Moderate wear; major features clear; legends complete |
| Very Fine | VF | Light wear on highest points; most detail visible |
| Extremely Fine | EF / XF | Slight wear on very highest points; sharp portrait |
| Near Mint / Mint State | nEF / MS | No appreciable wear; full luster if silver; original surfaces |
How to Buy Ancient Roman Coins Safely
Always Buy from Reputable Sources
Fake ancient coins are common, particularly for popular types like Julius Caesar denarii and Alexander the Great tetradrachms. The safest approach for new collectors is to buy from established dealers who belong to the American Numismatic Association (ANA) or the International Association of Professional Numismatists (IAPN), or from certified (NGC Ancients) examples.
NGC Ancients Certification
NGC (Numismatic Guaranty Company) offers specialized certification for ancient coins through their NGC Ancients program. Certified coins include authenticity guarantees and attribution details. For any purchase above $100, NGC certification adds significant peace of mind and resale value.
Provenance Matters
Ancient coins with documented provenance — a record of prior ownership and legal export from their country of origin — are more valuable and legally safer to collect. Look for coins with published auction records, old collection labels, or documented legal import history prior to 1970 (the threshold used by many collecting standards).
Start With Common Emperors
For new collectors, the most satisfying entry points are well-preserved denarii of the Five Good Emperors (Trajan, Hadrian, Antoninus Pius, Marcus Aurelius), large-denomination Constantine I bronzes, and worn-but-recognizable Republican denarii. These are genuine, 1,900–2,100 year-old Roman coins available for $20–$100 from reputable dealers.
Explore the World of Ancient Coins
From Rome to the Byzantine Empire — find authenticated ancient coins through our trusted sources.
Shop Roman Coins on eBay U.S. Coin Price Guide Coin Value EstimatorFrequently Asked Questions
Is it legal to collect ancient Roman coins?
In most countries, including the United States, it is legal to buy, sell, and collect ancient Roman coins that were legally exported from their country of origin before relevant cultural property laws came into effect. The key is provenance — coins with documented prior ownership history from before 1970 are generally safe to collect. Avoid coins that cannot be traced or that were clearly removed from archaeological sites without authorization.
How can I tell if an ancient Roman coin is authentic?
Authentication involves examining metal composition (weight and specific gravity), style of the portrait (Roman dies have a distinctive hand-engraved quality), patina (genuine ancient patina develops over centuries and can't be perfectly replicated), and edge characteristics. For beginners, the safest approach is to buy only NGC Ancients-certified coins, or to purchase from ANA or IAPN member dealers with written authenticity guarantees. If you find what appears to be an ancient coin at a very low price with no provenance, treat it with extreme skepticism.
What is a realistic budget to start collecting Roman coins?
You can assemble a genuinely interesting collection of authentic Roman coins for $200–$500. At that budget, you can acquire several late Roman bronze coins in VF condition, a few common Imperial denarii of well-known emperors, and potentially a recognizable Republican piece. The entry price for a real, identifiable Roman coin from a reputable source starts around $10–$15 for small late bronzes and $30–$50 for recognizable mid-grade denarii.
Do ancient Roman coins increase in value?
The ancient coin market has shown steady appreciation over decades for quality, well-attributed pieces. Common late bronzes in worn condition have limited appreciation potential. However, EF or better examples of popular emperors, rare types, and historically significant coins have consistently outperformed inflation. The market is driven by a growing global collector base and a finite, non-reproducible supply.
What's the difference between a Roman coin and a Greek coin?
Greek coins pre-date Roman coinage and typically feature deities, mythological creatures, and city-state symbols rather than ruler portraits (with some exceptions). Greek coins are generally made of silver and are often larger and more artistically sophisticated than Roman bronzes. Roman coins are distinguished by the imperial portrait tradition, Latin legends, and the long continuity of types across centuries of imperial rule. Greek coins are generally rarer and more expensive than equivalent-grade Roman coins.
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