Ancient Roman Coins
Republic • Imperial • Provincial • From Augustus to the Fall of Rome
The Origins of Roman Coinage
Rome's monetary history began modestly, with early cast bronze currency (aes rude and aes signatum) used in the centuries before standardized coinage took hold. The Roman Republic began striking silver coinage in earnest during the 3rd century BCE, drawing heavily on Greek numismatic conventions from the southern Italian city-states already under Roman influence. What began as a regional currency serving Rome's expanding Italian territories would, within a few centuries, become the monetary backbone of the largest and most enduring empire the ancient Mediterranean world would ever see.
The genius of the Roman monetary system lay in its combination of standardization and scale. Unlike the fragmented city-state coinages of the Greek world, Rome eventually imposed a single, unified currency system across territory spanning from Britain to Mesopotamia, from the Rhine to the Sahara. This standardization facilitated trade, taxation, and military pay across an empire of unprecedented size, and it left behind a numismatic record — millions of surviving coins spanning nearly a thousand years of continuous production — that remains unmatched by any other ancient civilization.
The Roman Republic — Denarii and Political Drama
The silver denarius, introduced around 211 BCE during the Second Punic War, became the backbone of Roman commerce for the remainder of the Republic and well into the Imperial period. Republican denarii are prized by collectors for their extraordinary thematic variety — moneyers (the officials responsible for coin production) used their coinage to commemorate their family's ancestors, celebrate military victories, and occasionally make none-too-subtle political statements, all within the small canvas of a silver coin roughly the size of a modern dime.
The late Republic's civil wars produced some of the most historically dramatic coins ever struck. Julius Caesar's lifetime portrait denarii — issued in 44 BCE, mere weeks before his assassination — represent a genuinely revolutionary act: the first time a living Roman had placed his own image on coinage, a practice that had been reserved for gods and deceased ancestors. This act of self-glorification, which many senators viewed as a step toward kingship, is widely considered a contributing factor to the conspiracy that killed him on the Ides of March. Coins from Brutus and the assassins, including the famous "EID MAR" denarius commemorating the assassination itself, are among the most sought pieces in all of Roman numismatics.
Imperial Rome — Emperors, Gold, and a Monetary Legacy
Augustus's establishment of the Principate in 27 BCE inaugurated the Imperial period and with it a new era of Roman coinage — one in which nearly every emperor's portrait, virtues, and achievements were broadcast across the empire on silver denarii, gold aurei, and bronze sestertii. This unbroken sequence of imperial portraits, spanning from Augustus through the empire's decline in the 5th century CE, provides numismatists with an unparalleled visual record of Roman political history — you can trace the rise and fall of dynasties, the reigns of soldier-emperors during the chaotic 3rd century, and the empire's gradual Christianization simply by following the coinage.
The gold aureus, struck at roughly 7.3 grams of nearly pure gold, represented the pinnacle of Roman coinage — a denomination reserved for major transactions, military donatives, and displays of imperial wealth. Aurei of well-documented emperors like Augustus, Nero, Hadrian, and Marcus Aurelius are among the most valuable ancient coins traded today, with exceptional examples regularly reaching six figures at major auction houses. The large bronze sestertius, meanwhile, offered Rome's engravers their largest canvas, and many of the empire's finest portrait work survives on sestertii from the 1st and 2nd centuries CE — genuine miniature sculptures in relief.
Roman Coin Value Guide
Values shown are approximate market ranges for authentic examples in collectible condition. Certification and provenance significantly affect value at the upper end of the market.
| Coin Type | Era | Metal | Typical Value Range | Shop |
|---|---|---|---|---|
| Roman Republic Denarius | 211–27 BCE | Silver (3.9g) | $75 – $5,000+ | eBay → |
| Julius Caesar Denarius | 44 BCE | Silver | $500 – $25,000+ | eBay → |
| Augustus Gold Aureus | 27 BCE–14 CE | Gold (7.3g) | $3,000 – $100,000+ | eBay → |
| Imperial Silver Denarius | 27 BCE–215 CE | Silver | $50 – $2,000+ | eBay → |
| Bronze Sestertius (portrait) | 1st–2nd century CE | Bronze (25g) | $100 – $10,000+ | eBay → |
| 3rd Century Antoninianus | 215–290s CE | Debased Silver | $15 – $300+ | eBay → |
| Constantine Gold Solidus | 4th century CE | Gold | $1,500 – $30,000+ | eBay → |
| Late Roman Bronze (AE) | 4th–5th century CE | Bronze | $5 – $75+ | eBay → |
Republic Denarii
Silver coinage struck by moneyers before the emperors — family crests, deities, and historical scenes across two centuries.
Imperial Portraits
An unbroken sequence of emperor portraits from Augustus through the empire's decline — a visual history of Rome itself.
Gold Aurei
Rome's prestige denomination — nearly pure gold, reserved for major transactions and imperial displays of wealth.
Bronze Sestertii
The largest Roman denomination and the finest canvas for imperial portraiture — miniature sculptures in relief.
Civil War Issues
Coins from Caesar's assassins, rival claimants, and usurpers — some of the most historically dramatic pieces in numismatics.
Late Roman & Christian
4th–5th century coinage documenting the empire's Christianization and eventual transition into the Byzantine era.
Collecting Roman Coins
Roman coin collecting is one of the most accessible entry points into ancient numismatics, thanks to the sheer volume of coins the empire produced over nearly a thousand years — millions of Roman coins survive today, meaning common types can be acquired for remarkably modest sums. Late Roman bronze coins from the 4th–5th centuries CE, struck in vast quantities during the empire's final chaotic decades, can often be found for $5–$20 in worn but recognizable condition, offering genuine 1,600-year-old history at pocket-change prices. This abundance makes Roman coins an ideal entry point for new ancient coin collectors, while the depth of the series — thousands of documented emperor, mint, and type combinations — provides decades of collecting depth for advanced specialists.
Authentication remains important even given this abundance, particularly for higher-value gold and rare silver issues, where forgeries are more likely to appear. NGC Ancients and PCGS both certify Roman coins, and their attribution services (which identify the exact reference number for a given type using standard catalogs like RIC — Roman Imperial Coinage) add both authentication confidence and cataloging convenience. For coins above $200–$300, certification is generally worth the investment; for common late Roman bronzes trading under $50, the cost of certification often exceeds the coin's value, and raw purchases from reputable dealers are standard practice.
Where to Buy Ancient Roman Coins
eBay — Certified Roman Coins
PCGS and NGC certified Roman coins across all eras — Republic, Imperial, and Late Roman. Filter by denomination, emperor, and grade for the most reliable buying experience.
Shop Certified Roman Coins →eBay — Roman Coins by Emperor
Search by specific emperor — Augustus, Nero, Hadrian, Constantine, and more. A great way to build a themed collection tracing Roman imperial history.
Shop by Emperor →
Standard Catalog of World Coins, 1901–2000
The definitive Krause reference for 20th-century world coinage.
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Gold Coins of the World
The industry-standard reference for identifying and valuing gold coins worldwide, including Roman imperial gold.
Shop on Amazon →Related Coin Guides
Frequently Asked Questions
What is the most common ancient Roman coin?
Late Roman bronze coins from the 4th and 5th centuries CE — often simply cataloged as "AE" (aes, or bronze) — are by far the most common ancient Roman coins available to collectors. Millions were struck during the empire's final centuries, and worn but identifiable examples can often be found for $5–$20. Imperial silver denarii from the 1st–2nd centuries CE are also relatively common and affordable, typically starting around $50–$100 for recognizable emperor portraits like Hadrian or Antoninus Pius.
How much is a Roman coin worth?
Roman coin values span an enormous range — from a few dollars for common late Roman bronzes to well over $100,000 for exceptional gold aurei of notable emperors or historically significant issues like Julius Caesar's assassination-era denarii. Value depends primarily on metal (gold commands the highest premiums), rarity of the specific emperor or type, condition and strike quality, and historical significance. A common Constantine bronze might sell for $10, while a rare Nero gold aureus in excellent condition could exceed $50,000.
What does RIC mean on a Roman coin listing?
RIC stands for "Roman Imperial Coinage," the standard multi-volume reference catalog used to identify and classify Roman imperial coins. A RIC number (such as "RIC 123") pinpoints the exact type, variety, and reference entry for a given coin, similar to how a Redbook number functions for U.S. coins. Dealers and auction houses routinely cite RIC numbers in listings, and learning to read them helps collectors quickly understand exactly what type of coin they're looking at and compare it against known examples and current market values.
Why did Julius Caesar's coinage cause such controversy?
Before Julius Caesar, Roman coins featured images of gods, personifications, and deceased ancestors — never a living Roman. When Caesar placed his own portrait on denarii in 44 BCE, it was widely interpreted as a step toward declaring himself king, a title Romans had rejected since expelling their last king nearly 500 years earlier. This perceived monarchical ambition is considered one of the key factors that motivated the conspiracy of senators who assassinated him on the Ides of March, just weeks after the coins were struck — making these among the most historically loaded coins ever produced.
How do I authenticate an ancient Roman coin before buying?
For any purchase over $200–$300, buying NGC Ancients or PCGS certified examples provides the strongest authentication confidence. For raw coins, purchase from dealers who are members of the Professional Numismatists Guild (PNG) or International Association of Professional Numismatists (IAPN), both of which enforce authenticity standards. Genuine ancient coins show natural wear patterns, appropriate metal composition and weight for their type, and die characteristics consistent with known genuine examples — developing an eye for these details takes time, which is why certification is especially valuable for newer collectors.
What is the difference between a denarius and a sestertius?
The denarius was Rome's standard silver coin, roughly the size of a modern dime, and served as the backbone of everyday Roman commerce for centuries. The sestertius was a larger bronze (originally brass) denomination worth one-quarter of a denarius, but its much larger size — roughly the size of a modern half dollar or larger — gave Roman die engravers far more room to create detailed portraiture and elaborate reverse scenes. As a result, many of the finest examples of Roman imperial portrait art survive on sestertii rather than the smaller, more common denarii.
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