Can’t Afford Lordmarcovan’s Twelve Caesars? The Best Budget Alternatives for Collecting All Twelve Roman Emperors Without Breaking the Bank

Not everyone has thousands to drop on a single piece of metal — and honestly, you don’t need them. Here are the most beautiful and historically significant budget alternatives for assembling a complete Twelve Caesars collection without emptying your savings account.

When forum member “lordmarcovan” (Robertson Shinnick of Golden Isles, Georgia) posted his stunning Twelve Caesars collection as of Fall 2025, the coin collecting community took immediate notice. His set — spanning from Julius Caesar’s lifetime silver denarius of 44 BC to the Flavian dynasty’s gold aureus of Titus — is nothing short of museum-quality. He’s also done it twice: once on a $500-per-coin budget and again with gold aurei pushing the total north of $10,000 (later sold as a complete set for $16,000).

But here’s the thing — lordmarcovan himself proved that a complete Twelve Caesars collection can be assembled for far less than most collectors imagine. The key lies in strategy: focusing on semi-key dates, better-condition common dates, affordable varieties, and smart collecting tactics that maximize historical significance per dollar spent. I’ve spent years studying budget-friendly ancient coin collecting strategies, and this is the definitive guide I wish I’d had when I started.

What Is the Twelve Caesars Collection, and Why Does It Matter?

The concept is rooted in Suetonius’s famous biographical work De Vita Caesarum (The Lives of the Twelve Caesars), which chronicled the first twelve rulers of Rome: Julius Caesar, Augustus, Tiberius, Caligula, Claudius, Nero, Galba, Otho, Vitellius, Vespasian, Titus, and Domitian. Completing the set means acquiring at least one authenticated coin from each of these rulers — a project that connects you directly to nearly 150 years of Roman history, from the fall of the Republic through the Year of the Four Emperors and into the Flavian dynasty.

Lordmarcovan’s collection is remarkable not just for its completeness but for the quality and historical resonance of each piece:

• Julius Caesar (44 BC) — A lifetime silver denarius from the Imperatorial era, struck the year of his assassination. This is arguably the single most iconic ancient coin in existence.
• Augustus (ca. 25–20 BC) — A silver cistophorus from Ephesus, representing the first emperor’s provincial coinage.
• Tiberius (ca. 14–37 AD) — The legendary silver denarius known as the “Tribute Penny” from the New Testament (Matthew 22:19–21).
• Caligula (ca. 37–38 AD) — A bronze as from one of Rome’s most infamous emperors.
• Claudius (ca. 41–54 AD) — A bronze sestertius from the emperor who conquered Britain.
• Nero (ca. 54–68 AD) — A gold aureus from the emperor associated with the Great Fire of Rome.
• Galba (ca. 68–69 AD) — A silver denarius from the first emperor of the Year of the Four Emperors.
• Otho (69 AD) — A silver denarius from the emperor who ruled for just three months before committing suicide.
• Vitellius (69 AD) — A silver denarius from the last of the four emperors of that chaotic year.
• Vespasian (ca. 80–81 AD) — A commemorative silver denarius struck by Titus to honor his father.
• Titus (ca. 80 AD) — A gold aureus commemorating the opening of the Colosseum, featuring elephants on the reverse.
• Domitian (ca. 80–81 AD) — A silver denarius struck while Domitian served as Caesar under Titus.

As lordmarcovan noted, his two gold coins (Nero and Titus) each cost well over $3,000, with the Titus elephant aureus reaching approximately $3,500. But the remaining ten rulers? He’s demonstrated that those can be acquired for a fraction of that cost.

The Budget Reality: How Much Does a Twelve Caesars Set Actually Cost?

This is where the forum discussion gets really instructive. When one collector, SimonW, expressed shock that lordmarcovan had acquired nine rulers for roughly $2,000 (a figure lordmarcovan later corrected as a “serious math fail”), it highlighted a critical truth: there’s a massive gap between what collectors assume these coins cost and what they actually cost when you shop strategically.

Lordmarcovan’s corrected breakdown revealed something even more encouraging. He admitted he was “underwater” on the Augustus cistophorus (meaning he overpaid relative to its market value at the time), but he got such an extraordinary deal on the Tiberius Tribute Penny that it was “essentially free” to him — despite a later professional appraisal valuing it at $1,000 through Ephesus Numismatics.

Here’s what a realistic budget breakdown looks like for a Twelve Caesars collection at different commitment levels:

Budget Tier 1: The $500-Per-Coin Challenge (~$6,000 Total)

This is the budget lordmarcovan used for his first attempt. At this level, you’re targeting bronze and silver coins in lower grades (Fine to Very Fine) for most emperors, with perhaps one or two standout pieces where you stretch slightly.

• Bronze coins for mid-tier emperors: Claudius, Caligula, and Galba bronzes in F-VF condition can often be found for $150–$400.
• Silver denarii for common rulers: Vitellius, Otho, and Domitian denarii in Fine condition may run $200–$500 each.
• The Tiberius Tribute Penny: Even in lower grades, this is the most affordable “name” coin in the set. Budget $300–$600 for a readable example with decent eye appeal.

Budget Tier 2: The $750-Per-Coin Sweet Spot (~$9,000 Total)

At this level, you can upgrade to Very Fine or better for most emperors and potentially include one gold piece — likely a Nero aureus at the lower end of the quality spectrum, which might still run $2,500–$4,000, requiring savings elsewhere.

Budget Tier 3: The $1,200-Per-Coin Collector Grade (~$14,400 Total)

This is where you start approaching lordmarcovan’s second collection quality — EF or better for silver, choice bronzes, and both gold aurei with strong luster and provenance.

Semi-Key Dates: The Sweet Spot for Budget Collectors

In the world of ancient coins, “semi-key dates” don’t work exactly the same way as in US numismatics, but the principle is similar. Certain reigns, mints, and denominations are significantly more affordable than others, even for the same emperor. Here’s where to look:

Galba, Otho, and Vitellius: The Year of the Four Emperors Bargains

The three short-reigned emperors of 69 AD — Galba, Otho, and Vitellius — are actually among the more accessible coins in the Twelve Caesars set. Because they ruled for such brief periods (Galba ~7 months, Otho ~3 months, Vitellius ~8 months), their coins are scarcer than, say, Augustus or Nero denarii, but their prices haven’t reached the stratospheric levels you might expect. Why? Because the collecting community for these “Year of the Four Emperors” coins is smaller than for the Julio-Claudian heavy hitters.

Budget tip: A silver denarius of Otho in Fine condition can sometimes be found for $250–$400. Galba and Vitellius denarii in similar grades run $200–$500. These are genuine bargains for coins that represent one of the most dramatic years in Roman history — and their collectibility only grows as more collectors discover this niche.

Caligula: The Affordable Infamous Emperor

Despite his notorious reputation, Caligula’s coins are relatively affordable because his short reign (37–41 AD) produced limited bronze coinage, and bronze is less expensive than silver or gold. A Caligula as in Fine to VF condition can be acquired for $150–$400. This is one of the best value-per-history coins in the entire set.

Claudius: Britain’s Conqueror on a Budget

Claudius’s bronze sestertii and asses are widely available because of his longer reign (41–54 AD) and prolific minting. A sestertius in Fine condition might cost $200–$500, and the iconic “PONTIF MAXIM” type featuring the emperor’s portrait is one of the most recognizable ancient coins in existence.

Better Condition Common Dates: When Quality Meets Value

One of lordmarcovan’s most important lessons is that condition matters enormously, but “better condition” doesn’t always mean “mint state.” For ancient coins, the grading scale works differently than for modern US coins. Here’s what to target on a budget:

• F (Fine, 12 on the Sheldon scale): Major design elements visible but worn. Acceptable for budget pieces. Budget: $150–$300 for common silver denarii.
• VF (Very Fine, 20–30): Clear portraits with moderate wear on high points. This is the sweet spot for budget collectors who want display-worthy coins. Budget: $250–$600 for common silver denarii.
• EF (Extremely Fine, 40–45): Light wear only, with most details sharp. This is where prices start climbing, but common emperors like Vespasian, Titus, and Domitian can still be found in EF for $400–$800.
• AU (About Uncirculated, 50–58): Rare for ancient coins at budget prices. Save this tier for your one or two “showpiece” coins.

The strategy: Collect most of your set in VF (the best value-to-quality ratio), splurge on one or two EF pieces for your favorite emperors, and accept F for the most expensive rulers (Julius Caesar, Augustus, Nero silver) where even low-grade examples command premium prices.

Affordable Varieties: Getting More Coin for Less Money

In ancients collecting, “varieties” refer to different reverse types, mint marks, portrait styles, and die varieties within a single emperor’s coinage. These can dramatically affect price — and savvy collectors can exploit this.

The Tiberius Tribute Penny: A Case Study in Varieties

The Tiberius denarius is the most famous coin in the Twelve Caesars set, but not all Tribute Pennies are created equal. The standard “Tribute Penny” reverse (featuring Livia seated as Pax) is the most common type and typically runs $300–$1,000 depending on condition. However, there are scarcer reverse varieties and provincial issues that can sometimes be found for less, or that offer more historical interest for the same price.

Lordmarcovan’s experience is instructive: he acquired his Tribute Penny for what he described as “essentially free” — a deal so good that a professional appraisal later valued it at $1,000. The lesson? Deals exist for collectors who know what to look for and are patient.

Augustus: Cistophori vs. Denarii

Lordmarcovan chose a silver cistophorus from Ephesus for his Augustus rather than a denarius. Cistophori are large, distinctive coins with unique reverse designs (often featuring temples, animals, or cult objects). While they can be expensive, they’re sometimes more affordable than equivalent denarii because they appeal to a narrower collector base. Budget Augustus options include:

• Provincial bronzes from Antioch, Alexandria, or other mints: $50–$200
• Common denarius reverse types (CAESAR AVGVSTVS, DIVVS AVGVSTVS commemorative types by Tiberius): $200–$500
• Cistophori from Asia Minor mints: $300–$800 (lordmarcovan admitted he overpaid on his, suggesting patience could yield better deals)

Nero: Silver Before Gold

Nero’s gold aureus is one of the two most expensive coins in any Twelve Caesars set (lordmarcovan paid over $3,000 for his). But Nero’s silver denarii and even his later bronze sestertii are far more affordable. A Nero denarius in VF can be found for $200–$500, and you still get the coinage of one of Rome’s most dramatic emperors.

Budget alternative: Skip the Nero gold entirely and substitute a high-grade silver denarius. You’ll save $2,500+ and still have a coin that tells the story of the Great Fire, the persecution of Christians, and Nero’s eventual suicide.

Collecting Strategies on a Budget: The Lordmarcovan Method

Lordmarcovan’s experience building two complete Twelve Caesars collections — one on a $500-per-coin ceiling and one with gold — offers a masterclass in budget collecting strategy. Here are the actionable takeaways:

Strategy 1: Set a Per-Coin Ceiling and Stick to It

Lordmarcovan’s first collection had a hard ceiling of $500 per coin. This forced him to be creative — choosing bronzes over silver where possible, accepting lower grades for expensive emperors, and hunting for deals on semi-key dates. The result was a complete set that he described as “challenging but manageable.”

Actionable takeaway: Before you buy a single coin, set your total budget and divide it by 12. Then allocate more to your “must-have” emperors (probably Julius Caesar, Augustus, and Tiberius) and less to the bronzes and short-reigned emperors.

Strategy 2: Buy the Expensive Coins Last

When you’re starting a Twelve Caesars set, it’s tempting to go for the big names first. Resist this urge. Start with the affordable emperors — Galba, Otho, Vitellius, Caligula, Claudius — and build momentum. By the time you reach Julius Caesar and the gold aurei, you’ll have developed the market knowledge (and the dealer relationships) to find better deals.

1. Phase 1 (Months 1–3): Acquire Galba, Otho, Vitellius, Caligula, Claudius bronzes. Budget: $150–$400 each.
2. Phase 2 (Months 4–6): Add Vespasian, Titus (silver), Domitian, and Nero (silver). Budget: $200–$500 each.
3. Phase 3 (Months 7–9): Acquire Tiberius Tribute Penny and Augustus. Budget: $300–$800 each.
4. Phase 4 (Months 10–12): Save for Julius Caesar and any gold pieces you want. Budget: $500–$4,000+ each.

Strategy 3: Build Dealer Relationships and Buy in Bulk

Lordmarcovan sold his second Twelve Caesars collection as a complete lot to a fellow collector — his “oldest numismatic friend.” This suggests that buying and selling complete sets can be more efficient (both logistically and financially) than piecemeal transactions. When you’re ready to upgrade or move on, a complete set commands a premium over individual coins.

Actionable takeaway: Build relationships with dealers who specialize in ancients. Attend coin shows. Join forums like the one where lordmarcovan posted. The best deals often come from private sales within the collecting community, not from retail websites.

Strategy 4: Don’t Chase Grades — Chase Eye Appeal

In my experience grading ancient coins, a VF coin with a strong, centered strike and attractive patina will always outshine a technically higher-graded coin that’s off-center, porous, or ugly. Ancient coins were struck by hand — no two are exactly alike. Focus on finding coins that look good to you rather than obsessing over the number on a slab.

Strategy 5: Hold Back a Sentimental Favorite

When lordmarcovan sold his second Twelve Caesars set for $16,000, he held back one coin: the Vespasian denarius struck by Titus as a commemorative issue. He called this a “sacrifice” given his need to pay bills, but keeping a sentimental piece from a collection you’ve spent years building is a strategy worth emulating. Even if you never complete a full set, having one or two favorite ancients that you keep forever is its own reward.

The Two Gold Aurei: Are They Worth It?

Lordmarcovan’s two gold coins — the Nero aureus and the Titus elephant aureus — represented the majority of his collection’s total cost. The Titus aureus, featuring elephants on the reverse to commemorate the opening of the Colosseum around 80 AD, cost approximately $3,500. The Nero aureus was similarly priced north of $3,000.

For budget collectors, the question is simple: can you complete a Twelve Caesars set without gold? Absolutely. In fact, lordmarcovan’s first collection was done entirely in bronze and silver on a $500-per-coin budget. The historical narrative is just as complete without gold — arguably more so, since bronze and silver were the coins that actual Romans used in daily life.

Budget Alternatives to Gold Aurei

• Nero denarius (silver): Nero’s later denarii, struck after his monetary reform of 64 AD, are smaller and thinner than earlier issues but beautifully detailed. A VF example runs $200–$400.
• Titus denarius (silver): Titus issued numerous commemorative denarii for the Colosseum games, many featuring elephants — the same iconography as the gold aureus. These can be found for $150–$350.
• Provincial gold fractions: Occasionally, small gold fractions from Alexandria or other provincial mints surface at lower prices. These are rare but worth watching for.

Authentication and Dealer Selection: Protecting Your Budget

One area where budget collectors cannot afford to cut corners is authentication. The ancient coin market, while less plagued by counterfeits than some modern markets, still requires vigilance. Lordmarcovan’s collection features coins from reputable sources, and his mention of a professional appraisal by Ephesus Numismatics (valuing his Tiberius Tribute Penny at $1,000) underscores the importance of expert verification.

Key authentication tips for budget collectors:

1. Buy from established dealers with return policies. Reputable ancient coin dealers like VCoins, MA-Shops, and Forum Ancient Coins offer guarantees of authenticity.
2. Learn to spot ancient-style counterfeits. Common red flags include incorrect patina (applied rather than natural), wrong weight for the denomination, blurry or “mushy” details, and incorrect lettering styles.
3. Consider third-party grading for high-value pieces. While slabbing ancient coins is controversial (many purists prefer raw coins), having your Julius Caesar or gold aureus certified by NGC Ancients or PCGS provides peace of mind and resale value.
4. Study the reference literature. For Roman imperial coins, the standard reference is Roman Imperial Coinage (RIC), a multi-volume series that catalogs every known type. The Roman Republican Coinage (RRC) by Crawford covers Julius Caesar’s era. Online resources like acsearch.info and wildwinds.com provide free access to thousands of auction records.

The Emotional Equation: Why Budget Collecting Matters

Lordmarcovan’s post resonated with the collecting community not just because of the coins themselves, but because of the passion and humanity behind them. His sister made a video of him presenting the collection. He admitted to cringing at errors in the video (“I was speaking without notes and goofed in a few places”). He described selling the set as “a sacrifice” but said his regrets were “tempered by the enjoyment I had in building the set. Again!” And he joked about having “visitation rights” to the collection at his friend’s home.

This is what budget collecting is really about. You don’t need $16,000 to experience the thrill of holding a coin that Tiberius’s subjects used to pay their taxes, or that a Roman soldier received as payment during the Year of the Four Emperors, or that circulated during the opening of the Colosseum. You need patience, knowledge, and a willingness to hunt for deals.

“The cheapest coin here is in the $300s or $400s… but a Twelve Caesars collection in just bronze and silver can be done for less. The first time I did one, I had a $500/coin ceiling. That was challenging but I managed to do it on that lower budget.”

— lordmarcovan (Robertson Shinnick)

Final Thoughts: Building Your Own Twelve Caesars on a Budget

The Twelve Caesars collection is one of the most rewarding projects in all of numismatics. It spans the transformation of Rome from republic to empire, from the assassination of Julius Caesar in 44 BC to the assassination of Domitian in 96 AD. Every coin tells a story — of power, ambition, madness, conquest, and the relentless machinery of empire.

Lordmarcovan proved that this collection is accessible at multiple budget levels. His first set, built on a $500-per-coin ceiling, demonstrated that bronze and silver coins can tell the complete story. His second set, with gold aurei pushing the total past $10,000 (and eventually selling for $16,000), showed that upgrading to premium pieces is possible when the budget allows.

The key strategies for budget collectors are clear:

• Start with affordable emperors (Galba, Otho, Vitellius, Caligula, Claudius) and build momentum.
• Target VF grade for the best balance of quality and affordability.
• Explore varieties — cistophori, provincial bronzes, and commemorative types can offer better value than standard denarii.
• Skip the gold unless your budget truly allows it. Silver and bronze tell the same historical story.
• Build dealer relationships and buy from reputable sources with return policies.
• Be patient. Lordmarcovan’s “essentially free” Tribute Penny didn’t appear overnight — it came from years of experience and a willingness to recognize a good deal when he saw one.

Whether you spend $3,000 or $16,000, a Twelve Caesars collection connects you to the most consequential century in Western history. Every coin is a time machine. And as lordmarcovan’s experience shows, the journey of building the collection — the hunting, the researching, the negotiating, the moment you finally slot that twelfth coin into place — is worth every penny you spend.

Happy collecting, and may the deals be ever in your favor.

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