Overpriced Ancients: My Collector’s Take on Market Madness

I’ve been collecting ancient coins for years, and I still can’t get over how some coins fetch sky-high prices even when they’re pretty common. In this post, I’ll share my thoughts and some tips to help you avoid overhyped pieces and find the real treasures.

Coins That Make Me Wince

Over the years, I’ve come across a few ancient coins that always seem too expensive, usually because of big hoards or just collector buzz. Here’s my list of the usual suspects:

• Athenian Owl Tetradrachms: Auctions are often packed with these – I’ve seen over 100 at once! With rumors of a hoard of more than 100,000, paying 500 euros or more for one just doesn’t sit right. They’re everywhere!
• Alexander Tetradrachms: You can’t swing a cat at an auction without hitting a few hundred of these. But the prices? Still sky-high. I usually skip right over them.
• Tyrian Shekels and Tiberius Denarii: The biblical connection (think ‘Thirty Pieces of Silver’) pumps up the price, but there are plenty to go around. The same goes for Prutot, those ‘Widow’s Mites’.
• Tigranes II Tetradrachms: A big hoard has been slowly hitting the market, but the prices haven’t come down nearly enough for me. It’s a shame because they’re beautiful coins.
• Tarentum Didrachms: These are as common as dirt, yet they still go for hundreds of dollars. Overkill, right?

Why Prices Defy Logic

In my experience, it’s all about what collectors want. A coin’s popularity can drive up the price more than its actual rarity. Take the 1907 High Relief St. Gaudens $20 gold piece: thousands exist, but you’ll rarely see one sell for under $10,000. Sometimes, I’m actually glad when a coin doesn’t go cheap. Once, I picked up a rare Trajan coin with the BALINEUM legend after it didn’t sell at auction. If it had been priced lower, someone else might have snapped it up without realizing how special it was. This variant shows a bath building and has a great pedigree from the Wetterstrom and Garrett collections.

Underpriced Opportunities I’ve Spotted

But not every ancient coin is overpriced! I’ve found some real bargains that give you a lot for your money:

• Rare Aureus of Valerian and Gallienus: I watched one sell for only 7200 euros. It was an R-5 unique coin with Calico plate provenance. In the US, that could go for six figures!
• General World Coinage: Rare coins from 670 BC to 1933 are often real steals compared to US or Canadian pieces. I’ve seen them undervalued by as much as 200%.

Grading and Authenticity Tips I Swear By

Do your homework and be careful. Take that $20,000 eBay listing someone pointed out to me – it was obviously fake. Look for coins with solid provenance, like those published in references such as RPC. And watch out for tooled coins. I remember that horribly messed up Trajan piece from the Art Institute of Chicago. Always buy from trusted auctions, and double-check details like buildings on the back to make sure you’re getting the real deal.

My Personal Collecting Philosophy

For me, collecting ancient coins isn’t just about the money – it’s a passion. I’ve kicked myself when a coin sold for a song before I could place a bid, wishing it had been priced higher to scare off others. Be patient: wait for unsold lots or look for coins with a cool history. My advice? Buy what you love, keep an eye out for hoard reports, and remember that value is in the eye of the beholder. One collector’s overpriced coin is another’s bargain. Happy hunting – I hope you find coins that speak to you without breaking the bank!