My Insights on Overpriced Ancient Coins

As an ancient coin collector, I’ve spent years tracking auctions and sales, and nothing gets me going like the debate over overpriced ancients. It’s a common frustration among collectors, but there’s more to it than meets the eye. Let me share what I’ve learned to help you avoid paying too much in this tricky market.

Coins That Seem Permanently Overpriced

Through my collecting journey, I’ve noticed certain ancient coins that consistently fetch surprising prices despite their abundance. These always make me pause:

• Athenian owl tetradrachms: You’ll see dozens in any major auction, yet they still command 500+ euros. With rumors of massive undiscovered hoards, I find this hard to swallow.
• Alexander the Great tetradrachms and drachms: So common I often skip past them in auction listings—they’re everywhere.
• Tyrian shekels: The biblical “Thirty Pieces of Silver” connection drives hype, but availability doesn’t justify those premiums.
• Persian darics and Lydian staters: When gold fever kicks in, I’ve seen these sell for 50K when they should be closer to 5K.
• Tigranes II tetradrachms: A recent hoard discovery hasn’t budged prices much—the slow trickle into the market keeps them artificially high.
• Augustus denarius with Lucius and Gaius: Feels like every other collector has one, yet prices stay stubborn.
• Tarentum didrachms: Common as pebbles, yet they still fetch hundreds.

What Keeps Prices High?

From what I’ve observed, a few things prop up these prices. Hoards matter—like that rumored mountain of owls—but when coins drip slowly into the market, prices don’t adjust. Popularity plays a huge role too. Take the US 1907 High Relief Saint-Gaudens: over 10,000 exist, yet they bring $10,000+. When something’s iconic or has cultural weight (like biblical coins), collectors open their wallets wider. I always check auction histories and hoard reports before bidding—it’s saved me from hype more than once.

Value Is In The Eye Of The Beholder

Here’s something interesting: I often find ancient coins underpriced next to US issues. World coinage from 670 BC to 1933 might need to double or triple to match US prices. Value is personal though. I remember winning a Trajanic BALINEUM coin at reserve after it went unsold. Honestly? I was glad it wasn’t cheaper—someone else might’ve grabbed it! That piece, tied to the Wetterstrom and Garrett collections and published in RPC, could be gold to an architectural-type collector as a rare variant. Sometimes I actually hope coins cost more just so they’ll still be there when I bid!

The BALINEUM Coin Mystery

One fascinating case involves Alexandrian coins with the ΒΑΛΑΝΗΟΥ legend. We used to think they showed bathhouses (balaneum), but details like Corinthian columns and pediments suggest they might actually depict a shrine to Zeus Heliopolitanus at Baalbek. That’s why getting the details right matters—misattributions can inflate prices. Always double-check legends against references like RPC or Emmett catalogs before paying a “rare” premium.

Practical Tips From My Experience

After years of wins and misses, here’s what works for me:

• Research hoards and actual rarity: Check sites like RPC Online for mintage clues before buying.
• Patience pays at auctions: Watch for unsold lots—that’s how I grabbed that Trajan coin.
• Seek undervalued gems: Rare aurei sometimes go for 7,200 euros when they’d pull six figures in US markets.
• Verify everything: Demand clear photos and provenance details—fakes abound.
• Collect what moves you: If a Widow’s Mite speaks to you at a fair price? Grab it, even if it’s not the “smartest” buy financially.

At the end of the day, coin prices mix scarcity, demand, and passion. While some ancients feel overpriced, others are absolute steals. Keep digging, trust your research, and happy hunting!