Byzantine Coins
The Gold Solidus • Constantinople • A Thousand Years of Imperial Coinage
The Origins of Byzantine Coinage
Byzantine coinage begins where Roman coinage effectively ends — a direct, unbroken continuation of Roman imperial monetary tradition after Emperor Constantine the Great founded his new capital at Constantinople in 330 CE. Rather than representing a sharp break from Rome, Byzantine coinage is best understood as Rome's eastern half continuing to strike coins in the imperial tradition for another thousand years after the Western Roman Empire collapsed in 476 CE — a numismatic continuity almost without parallel in world history. Historians and numismatists generally date the "Byzantine" period from either Constantine's founding of Constantinople or, more narrowly, from the reign of Anastasius I around 491 CE, when a significant coinage reform gave Byzantine coins their own distinct character.
What makes Byzantine coinage so remarkable to collectors is precisely this millennium-long continuity, combined with the empire's gradual but profound cultural transformation. Over a thousand years, Byzantine coins document the empire's evolving relationship with Christianity, its shifting territorial fortunes as it contracted and occasionally expanded, and an artistic evolution from naturalistic late-Roman portraiture toward the increasingly stylized, iconic imagery that would come to define Byzantine art more broadly — an aesthetic shift you can trace coin by coin, reign by reign, across the centuries.
The Gold Solidus — The Medieval World's Most Trusted Currency
No single coin defines Byzantine numismatics more than the gold solidus, introduced by Constantine the Great around 312 CE and struck at a remarkably consistent weight and purity for the better part of seven centuries. This extraordinary stability — in an era when most currencies were regularly debased by rulers desperate for revenue — made the solidus the most trusted international currency of the medieval world, accepted from Western Europe to the Islamic caliphates to the trading cities of the Silk Road. Merchants, rulers, and travelers across an enormous geographic span relied on the solidus precisely because its gold content could be trusted not to change from one reign to the next.
The solidus's reliability was so exceptional that it directly influenced monetary systems far beyond Byzantine borders — Islamic gold dinars were initially struck to match the solidus's weight standard, and the coin's Latin name (solidus) is the direct root of the word "soldier" (paid in solidi) and survives today in the abbreviation "s." for shillings in pre-decimal British currency. Later Byzantine gold issues — including the hyperpyron introduced by Alexios I Komnenos in 1092 as a reformed, slightly debased successor to the classic solidus — continued this tradition of high-value gold coinage, though none matched the original solidus's extraordinary multi-century stability.
Imperial Portraits and the Christian Empire
Byzantine coin portraiture underwent a dramatic artistic transformation over the empire's lifespan, moving gradually away from the naturalistic, individualized imperial portraits inherited from Rome toward increasingly stylized, symbolic representations that prioritized imperial dignity and religious authority over physical likeness. Early Byzantine coins, particularly under Justinian I (527–565 CE) — the emperor whose military campaigns briefly reconquered much of the former Western Roman Empire, including Italy and North Africa — still show clear continuity with late Roman imperial portrait conventions.
A profound shift arrived under Justinian II, who in 692 CE became the first Byzantine emperor to place a portrait of Christ Pantocrator on the obverse of his coins, relegating the emperor's own image to the reverse — a striking statement that ultimate authority belonged to Christ, with the emperor ruling merely as his earthly representative. This innovation, though interrupted during periods of religious controversy (notably Byzantine Iconoclasm in the 8th–9th centuries, when religious images were periodically banned from coinage entirely), became a recurring and defining feature of later Byzantine coin design. Collectors particularly prize solidi and later gold issues bearing detailed Christ portraits, which represent some of the most historically and artistically significant coins of the entire medieval world.
Byzantine Coin Value Guide
Values shown are approximate market ranges for authentic examples in collectible condition. Gold preservation and portrait clarity significantly affect value across the Byzantine series.
| Coin Type | Era | Metal | Typical Value Range | Shop |
|---|---|---|---|---|
| Early Byzantine Gold Solidus | 4th–6th century CE | Gold | $400 – $10,000+ | eBay → |
| Justinian I Gold Solidus | 527–565 CE | Gold | $500 – $10,000+ | eBay → |
| Christ Portrait Solidus | 692 CE onward | Gold | $600 – $15,000+ | eBay → |
| Byzantine Bronze Follis | 6th–11th century CE | Bronze | $25 – $500+ | eBay → |
| Hyperpyron (reformed gold) | 1092 CE onward | Gold (debased) | $300 – $5,000+ | eBay → |
| Silver Miliaresion | 8th–11th century CE | Silver | $150 – $3,000+ | eBay → |
| Late Byzantine Trachy | 12th–15th century CE | Electrum/Billon | $40 – $800+ | eBay → |
| Anastasius I Reform Follis | 491–518 CE | Bronze | $50 – $1,000+ | eBay → |
Gold Solidus
Seven centuries of remarkably consistent gold coinage — the medieval world's most trusted international currency.
Justinian's Empire
Coins from the emperor whose reconquest briefly restored much of the former Western Roman Empire.
Christ Portrait Issues
Justinian II's landmark 692 CE innovation — Christ Pantocrator on the obverse, the emperor on the reverse.
Bronze Follis
Everyday Byzantine currency — accessible entry point spanning six centuries of production.
Constantinople Mint
The imperial capital's mint — the heart of Byzantine coin production for a thousand years.
Islamic Influence
The solidus's standard shaped early Islamic gold dinars — a numismatic bridge between two civilizations.
Collecting Byzantine Coins
Byzantine coin collecting offers exceptional value relative to comparable Greek or Roman material, largely because the field attracts a smaller community of dedicated specialists despite its comparable historical depth and genuine numismatic significance. Bronze folles from the 6th through 11th centuries — the everyday currency of the Byzantine Empire — are widely available and surprisingly affordable, often trading for $25–$100 in decent condition, offering collectors genuine thousand-year-old history at accessible prices. This relative affordability, combined with the field's rich historical narrative spanning the empire's rise, golden age, and eventual fall to the Ottomans in 1453, makes Byzantine coins one of ancient numismatics' most underappreciated collecting opportunities.
Gold solidi and later gold issues carry meaningful premiums, particularly examples with sharp Christ portraits or connections to historically significant emperors like Justinian I or Basil II. Authentication follows the same principles as other ancient coins — NGC Ancients certification provides professional third-party verification, and purchasing from established dealers affiliated with the Professional Numismatists Guild (PNG) or International Association of Professional Numismatists (IAPN) offers additional confidence, particularly for gold issues where forgeries carry higher financial stakes. Byzantine coins are often collected alongside their Islamic contemporaries — see our Asian Coins guide for related Islamic gold dinar coverage.
Where to Buy Byzantine Coins
eBay — Certified Byzantine Coins
PCGS and NGC certified Byzantine coins across all periods — early imperial through late Byzantine. Filter by emperor, denomination, and grade for the most reliable buying experience.
Shop Certified Byzantine Coins →eBay — Byzantine Gold Solidi
Search across seven centuries of gold solidus production — early imperial, Christ portrait, and reformed hyperpyron issues from specialist ancient coin dealers.
Shop Gold Solidi →
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 Byzantine gold issues.
Shop on Amazon →Related Coin Guides
Frequently Asked Questions
What is Byzantine money called?
The primary Byzantine gold coin was called the solidus, introduced by Constantine the Great around 312 CE and struck at a remarkably stable weight and purity for roughly seven centuries. The everyday bronze coin was called the follis. In 1092 CE, Emperor Alexios I Komnenos introduced the hyperpyron as a reformed successor to the debasing solidus. Silver coinage included the miliaresion. Together these denominations formed the Byzantine monetary system across the empire's thousand-year history.
Why was the Byzantine gold solidus so trusted internationally?
The solidus maintained a remarkably consistent weight and gold purity for centuries at a time when most contemporary currencies were regularly debased by rulers seeking short-term revenue. This stability meant merchants and rulers across an enormous geographic area — from Western Europe to the Islamic world to Silk Road trading centers — could accept solidi with confidence, without needing to verify gold content on every transaction. This trust made the solidus the closest thing the medieval world had to a truly international reserve currency, a role it held for the better part of seven centuries.
Who was the first Byzantine emperor to put Christ's portrait on coins?
Justinian II was the first Byzantine emperor to place a portrait of Christ Pantocrator on the obverse of his gold coinage, beginning in 692 CE — moving his own imperial portrait to the reverse. This innovation represented a striking theological statement about the divine source of imperial authority. The practice was interrupted during periods of Byzantine Iconoclasm in the 8th–9th centuries, when religious imagery was periodically banned, but ultimately became a recurring and historically significant feature of Byzantine coin design in later centuries.
Are Byzantine coins a good value compared to Greek or Roman coins?
Byzantine coins generally offer excellent relative value compared to comparable Greek or Roman material, largely because the collecting community for Byzantine coins is smaller despite the field's comparable historical depth. Bronze folles in particular are widely available and quite affordable — often $25–$100 for decent examples — offering genuine thousand-year-old ancient history at accessible prices. Gold solidi command higher premiums but still often trade for less than equivalent-rarity Roman gold aurei, making Byzantine coins an attractive area for collectors seeking historical significance without Roman or Greek gold-level price tags.
How long did the Byzantine Empire and its coinage last?
The Byzantine Empire, dating from Constantine's founding of Constantinople in 330 CE (or, by some historians' reckoning, from the Western Roman Empire's fall in 476 CE) to the city's conquest by the Ottoman Turks in 1453, lasted over a thousand years — making it one of history's longest-lived states. Byzantine coinage was struck continuously throughout this entire period, evolving from close continuity with late Roman conventions to a distinct, increasingly stylized Byzantine artistic tradition, providing numismatists with an unbroken thousand-year visual record of one of history's most durable empires.
What is the difference between a follis and a solidus?
The solidus was Byzantium's premier gold coin — a high-value denomination used for major transactions, taxation, and international trade, struck at a consistent standard for centuries. The follis was the everyday bronze coin that ordinary Byzantines actually used for daily commerce — buying food, paying small debts, and other routine transactions. The relationship is roughly analogous to the difference between a gold sovereign and a copper penny in later British currency: both circulated simultaneously, but served entirely different economic functions within the same monetary system.
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The Beginner's Guide to Identifying Byzantine Coins - Eastern Roman Empire from Anastasius I (491518) to Constantine XI (14481453) with an overview of the period of Diocletian in 284
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