My Take on Overpriced Ancient Coins: A Collector’s Reality Check

I’ve been collecting ancient coins for years, and nothing baffles me more than common coins selling for crazy high prices. It’s a topic that comes up often among collectors, so today I’m sharing my thoughts on which ancients seem overpriced to me — and how you can avoid paying too much.

Common Coins That Defy Logic with High Prices

After watching the market for so long, I keep seeing the same ancient coins appear constantly at auctions while carrying surprisingly steep price tags. Here are the ones that make me raise an eyebrow:

• Athenian Owls: I’ve seen auctions with over a hundred of these, and there are tens of thousands in existence. Yet they still go for 500 euros or more. It’s even more confusing when you hear about huge hoards being found.
• Alexander Tetradrachms: They show up in droves at every sale — I practically scroll right past them now. But their prices haven’t dropped a bit, even though they’re everywhere.
• Tyrian Shekels: The biblical connection drives up prices, but they’re not actually rare. The same goes for Tiberius ‘Tribute Pennies’ — they’re more popular than they are scarce.
• Tigranes II Tetradrachms: A big hoard was found recently, which should have brought prices down. But because they’re released slowly, the cost stays high — too high for how attractive they are.
• Tarentum Didrachms: These are as common as dirt, but they still sell for hundreds. It’s hard to see why unless you’re a real enthusiast.

Why Pricing Isn’t Always Black and White

I’ve realized that coin values are really subjective — what I think is overpriced might be a bargain to someone else. Let me tell you about a Trajan tetradrachm I bought: it was an unsold lot at a major auction, so I got it at the reserve price. Turned out it was a rare variant with a ‘BALINEUM’ legend, which might show a bath building or a shrine to Zeus Heliopolitanus. If it had been priced lower, someone else might have snapped it up and missed its rarity and top-notch provenance. So sometimes I think, ‘Thank goodness it wasn’t cheaper!’ — that higher price actually saved me from missing out on a gem.

Demand from collectors is a big factor. Take US coins: the 1907 High Relief St. Gaudens or the 1857-S Double Eagle have thousands of examples around, but they still sell for a premium because they’re so popular. On the other hand, many ancient coins from around the world feel like they’re underpriced and could use a boost.

Spotting Value in Identification Debates

When coins have unclear histories, like that Trajan piece, debates about what they represent can affect prices. I spent a lot of time looking at the details — was it a bath or a shrine? The architectural features (like pediments and columns) are important. Coins with unusual legends or from specific regnal years might be rarer than they seem. My tip: always check references like RPC or numismatic journals to find out how scarce a coin really is before you buy.

Undervalued Opportunities Worth Snagging

Not every ancient coin is overpriced — I’ve found some real bargains. Take rare aureuses: I’ve seen a Valerian joint reign coin go unsold at auction for a reasonable price (around 7,200 euros), even though a similar US coin would cost a fortune. Watch for these sleepers; they show that patience really does pay off in collecting.

Practical Tips for Savvy Collecting

Based on my own successes and mistakes, here’s how you can shop without overspending:

• Track Hoards: When big discoveries happen (like with Lydian staters or owls), they can flood the market. That’s the time to buy, when prices drop after the release.
• Prioritize Provenance: Coins from well-known collections (like Wetterstrom or Garrett) are worth more, so consider that when you’re evaluating a coin.
• Hunt Unsold Lots: After an auction, unsold coins are often available at the reserve price. Set up alerts so you don’t miss these chances.
• Focus on Rarity, Not Hype: Skip coins that are popular because of trends (like biblical coins) and look for ones that are actually rare.
• Research Relentlessly: Check online databases and reference books to confirm legends and varieties — you might uncover a hidden treasure.

In the end, coin collecting is about both love and common sense. If you stay curious and keep a critical eye, you can avoid overpaying and build a collection that’s both meaningful and within your budget.