Why Some Ancient Coins Are Priced Too High: My Collector’s Confession

I’ve collected ancient coins for decades, and nothing baffles me more than watching common pieces command crazy prices at auctions. It’s something I ponder often while browsing sales, spotting coins that should be affordable yet aren’t. Let me walk you through my experiences with overpriced ancients and share where surprising value might be hiding.

Coins That Make Me Wince at the Price Tag

Through my numismatic journey, I’ve encountered several ancient coins that seem wildly overvalued considering how plentiful they are. Here’s my personal list based on auction observations:

• Athenian Owl Tetradrachms: These appear constantly—I once saw an auction with hundreds. Yet they still fetch 500+ euros! With rumors of a 100,000+ coin hoard surfacing years back, I suspect collector enthusiasm keeps prices inflated.
• Alexander the Great Tetradrachms and Drachms: You’ll find these in nearly every sale. After seeing countless examples across conditions, I’ve started scrolling past them—their stubbornly high prices feel like popularity trumping actual rarity.
• Kings of Lydia Kroisos Staters: Beautiful coins, but recent hoard discoveries make them more accessible. I’ve winced at 50K listings when 5K seems more reasonable.
• Tigranes II Tetradrachms of Armenia: Though a major hoard emerged recently, dealers release them slowly to prop up prices. I adore the design but can’t bring myself to buy at current levels.
• Biblical Association Coins: Tiberius denarii (‘Tribute Pennies’) and Tyrian shekels (‘Thirty Pieces of Silver’) often carry heavy premiums for their stories. Even Widow’s Mites get hyped beyond reason sometimes.
• Augustus Denarius with Lucius and Gaius: This type feels like half the Augustus coins out there! The market hasn’t adjusted for how common they are.
• Tarentum/Taras Didrachms: As plentiful as beach sand, yet they still pull hundreds of dollars. I’ve muttered “Seriously?” more than once while passing on these.

The Bright Side: Unexpected Bargains in Ancients

Here’s where things get fascinating—I often think ancient coins are steals compared to modern US rarities like the 1907 High Relief St. Gaudens. Those can hit $10K+ despite thousands existing, while truly scarce ancients feel undervalued. I once grabbed an AV Aureus from Valerian and Gallienus’ joint reign—a genuine rarity—for far less than comparable US coins. If it were American, it might’ve cost seven figures! This shows how market quirks create opportunities if you know where to look.

Value isn’t just about scarcity though—it’s deeply personal. I’ve bought coins thinking, “Thank goodness that wasn’t cheaper!” because a lower price might’ve meant losing it to another collector. Take my Trajan coin: a debated rarity showing what could be a bathhouse or shrine. Had it been priced lower, someone might’ve snapped it up without realizing it came from the Wetterstrom and Garrett collections. To me, it was a bargain—to an architecture enthusiast, it’s priceless. That’s the beauty of our hobby: worth truly lies in the collector’s eye.

Practical Tips for Savvy Collecting

After years of trial and error, here’s how I avoid overpaying and find treasures:

• Track Hoards and Rarity: Always investigate discoveries like the Tigranes find. Prices lag sometimes—waiting pays off. I regularly use RPC Online for reference.
• Grading and History Matter: Look beyond condition. Coins with museum provenance can justify higher prices, but watch for fakes—I’ve spotted eBay “bargains” that screamed forgery.
• Auction Timing: Wait for unsold lots where reserves drop. That’s how I landed my Trajan piece reasonably. If something seems too high, let it pass—another will come.
• Gauge Demand: Popularity inflates prices (like Alexander tets). Question expensive coins flooding auctions. For underpriced rarities? Move fast—they vanish quickly.
• Study Details: With architectural coins like Trajan’s, examine features closely. Is it truly a bath or temple? Misidentification affects value—always cross-check academic sources.

Ultimately, collecting blends passion with practicality. While some ancients feel overpriced, they keep me sharp and remind me why I love the hunt. What coins make you question the market? I’d enjoy hearing your stories as we explore this wonderful hobby together.