Roman Coins: Complete Guide

From Republic to Empire – the propaganda, history, and identification of Roman coinage

c. 280 BC – AD 476 Imperial Propaganda Emperor Portraits
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WHAT ARE ROMAN COINS?

State messaging in metal: Republic through Empire

Definition & Historical Significance

Roman coins are the monetary issues produced by the Roman Republic and Empire from approximately 280 BC to AD 476 (Western Empire), with continuation in the Eastern Roman (Byzantine) Empire. They represent the longest continuous coinage tradition in the ancient world.

Roman Coins as Imperial Propaganda

  • Emperor portraits legitimized rule
  • Reverse messages communicated with citizens
  • Military victories and achievements celebrated
  • Religious transitions documented (pagan to Christian)

Vs Greek City-State Coins

  • Roman: Imperial propaganda and ruler portraits
  • Greek: Civic pride and religious symbolism
  • Roman: Standardized, political, centralized
  • Greek: Artistic, varied, decentralized

The Major Periods Collectors Use

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Roman Republic
c. 280–27 BC

Characteristics: Anonymous issues, moneyer names, mythological types

Examples: Early denarii, aes grave, moneyer issues

Collector Note: Advanced collecting area, often pricier

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Roman Empire
27 BC – AD 284

Characteristics: Emperor portraits, standardized messages, silver denarius system

Examples: Augustus denarii, Nero sestertii, Antoniniani

Collector Note: Most popular period, wide availability

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Late Roman Empire
AD 284–476

Characteristics: Crude portraits, mint marks, debased silver, bronze reforms

Examples: Diocletian folles, Constantinian bronzes

Collector Note: Affordable entry point, Byzantine transition

What Makes Roman Coins Hard/Easy to Identify

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Emperor Identification

Portraits can be similar, especially among family members (Julio-Claudians)

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Standardized Types

Many emperors used similar reverse types (Victoria, Pax, Concordia)

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Legend Abbreviations

Requires knowledge of imperial titles (IMP, AVG, CAES, COS, TR P)

Essential Roman Coin Resources

Roman Coin Legends Explained How to Identify Roman Coins Byzantine Coins Hub
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ORIGINS OF ROMAN MONEY (BEFORE COINS)

From raw bronze to standardized coinage

The Evolution Before Coinage

Rome didn't start with coins. The early economy used weighed bronze in various forms before adopting Greek-style struck coinage in the 3rd century BC.

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Aes Rude (Rough Bronze)

Period: 8th–4th centuries BC

Form: Irregular bronze lumps, weighed for value

Usage: Primitive currency, no standardization

Transition: Eventually marked with simple designs

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Aes Signatum (Signed Bronze)

Period: 4th–3rd centuries BC

Form: Cast bronze bars with simple designs

Designs: Pegasus, elephant, weapons

Innovation: First step toward standardized value

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Aes Grave (Heavy Bronze)

Period: 3rd century BC

Form: Cast round bronze coins, heavy modules

Denominations: As, Semis, Triens, Quadrans, Sextans, Uncia

Key Feature: Full series with declining weights

Cast Money vs Struck Money

Cast Coins

Molten metal poured into molds, characteristic of early Roman bronze

Struck Coins

Greek method adopted later, hammering designs onto blank flans

Greek Influence

Southern Italy Greek colonies introduced struck coinage to Romans

Why Rome Adopted Later

Conservative society, agricultural economy, gradual contact with Greek colonies

Why Rome Eventually Adopted Coinage

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Military Expansion

Need to pay soldiers and supply armies across growing territory

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Trade Networks

Standardized currency facilitated commerce across diverse regions

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State Control

Coinage became tool for propaganda and asserting Roman authority

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METALS & DENOMINATIONS (CORE CHAPTER)

The Roman monetary hierarchy from gold to bronze

The Roman Monetary System

Roman coinage operated on a complex but logical hierarchy of metals, each serving specific economic functions and changing significantly over 700+ years of use.

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Gold

Elite Imperial Currency
Aureus

Period: Republic to Constantine
Weight: ~7.3g (variable by emperor)
Value: 25 denarii initially
Role: Imperial gifts, large transactions, army bonuses

Solidus

Period: Constantine onward
Weight: ~4.5g (standardized)
Value: Very high stability
Role: Basis for Byzantine coinage, remained pure gold for centuries

Collector Note: Rare and expensive. Early aurei scarce, later solidi more available but still premium.

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Silver

Backbone of Roman Economy
Denarius

Period: Republic to 3rd century AD
Weight: ~3.9g early, decreasing over time
Value: 16 asses (Republic), 4 sestertii (Empire)
Role: Standard silver coin, soldier's pay, major commerce

Antoninianus

Period: Caracalla to Diocletian (AD 215–294)
Weight: ~5.1g initially
Identification: Radiate crown on emperor
Role: Double denarius (debased silver)

Argenteus

Period: Diocletian reform
Weight: ~3.4g
Value: 1/100th pound of silver
Role: Failed attempt to restore silver standard

Siliqua

Period: 4th–5th centuries AD
Weight: ~2–3g
Value: 1/24 solidus
Role: Late Roman small silver

Debasement Story: Denarius went from 95% silver (Augustus) to 5% silver (3rd century crisis), showing economic decline.

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Bronze/Orichalcum

Everyday Currency
Sestertius

Metal: Orichalcum (brassy yellow)
Size: Large module (30–35mm)
Value: 4 asses
Role: Major bronze unit, excellent for propaganda reverses

Dupondius

Metal: Orichalcum
Identification: Radiate crown on emperor
Value: 2 asses
Size: Medium (25–28mm)

As

Metal: Copper (reddish)
Identification: Laureate head
Value: Basic bronze unit
Size: Medium (25–28mm)

Follis

Period: Diocletian reform onward
Metal: Silver-washed bronze
Size: Large (25–30mm)
Role: Standard late Roman bronze

Collector Value: Most affordable entry point. Sestertii offer best art, folles are common late Roman types.

How to Spot Denomination by Appearance

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Portrait Crowns

Laureate: As, sestertius, denarius
Radiate: Antoninianus, dupondius
Helmeted: Early Republic, special issues

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Size Matters

Large: Sestertius (~32mm)
Medium: As, dupondius (~25mm)
Small: Denarius (~19mm), antoninianus (~22mm)

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Metal Color

Gold: Yellow (aureus, solidus)
Orichalcum: Brassy yellow (sestertius, dupondius)
Copper: Reddish (as)
Silver: White/gray (denarius, antoninianus)

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ROMAN WEIGHT SYSTEMS & REFORMS

Why Roman coins changed over 700 years

The Story of Roman Monetary Instability

Roman coin weight wasn't static. It tells the story of economic crises, inflation, and attempts at reform across centuries.

1
Republican Fluctuations

Early denarius: ~4.5g, reduced to ~3.9g during crises

2
Imperial Standardization

Augustus fixed weights, Nero adjusted them

3
Third Century Collapse

Severe debasement leads to near-worthless antoniniani

Major Reforms Collectors Must Know

Augustan Settlement (27 BC)

What Changed: Standardized imperial coinage system

Key Features:
• Aureus: ~7.8g
• Denarius: ~3.9g, 95% silver
• Sestertius: ~25g orichalcum

Significance: Created stable system for 200+ years

Nero's Adjustments (AD 64)

What Changed: Slight reductions in weight

Key Features:
• Aureus: ~7.3g
• Denarius: ~3.4g, 90% silver
• Introduced orichalcum dupondius

Significance: First major debasement, set precedent

Diocletian's Reform (AD 294)

What Changed: Complete overhaul after crisis

Key Features:
• New silver: argenteus (1/100 lb silver)
• New bronze: follis (silver-washed)
• Attempted return to precious metal standards

Significance: Temporary stabilization, failed long-term

Constantine's Reform (AD 312)

What Changed: Last major Roman reform

Key Features:
• Solidus: ~4.5g pure gold
• Siliqua: small silver coin
• New bronze denominations

Significance: Basis for Byzantine coinage for 700 years

Debasement: What It Looks Like on Coins

Augustus (27 BC – AD 14)

Denarius: 95% silver, bright white
Weight: ~3.9g
Condition: Excellent strike, fine style

Commodus (AD 180–192)

Denarius: ~75% silver, slightly gray
Weight: ~3.3g
Condition: Good style but declining

Gallienus (AD 253–268)

Antoninianus: ~5% silver, bronze core
Weight: ~3.5g
Condition: Crude, poor silvering, often porous

Aurelian (AD 270–275)

Reformed antoninianus: ~5% silver but heavier
Weight: ~4.0g
Condition: XX•I mark, slightly better quality

Practical Weight Guide for Identification

Coin Period Ideal Weight Tolerance Silver Content
Augustan Denarius 27 BC – AD 14 3.9g ±0.2g 95%
Trajan Denarius AD 98–117 3.4g ±0.3g 85%
Antoninus Pius Sestertius AD 138–161 25–28g ±3g Orichalcum
Gallienus Antoninianus AD 253–268 3.2–3.8g ±0.5g ~5%
Diocletian Follis AD 294–305 10–12g ±2g Bronze core, silver wash
Constantine Solidus AD 312–337 4.5g ±0.1g 99% gold
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ROMAN ICONOGRAPHY (COINS AS IMPERIAL MEDIA)

How Rome communicated through coin designs

Portraits and Propaganda

Every element of Roman coin design was carefully chosen to communicate messages about imperial power, legitimacy, achievements, and values.

Portrait Evolution Across Eras

Republican

Style: Realistic, veristic (warts and all)
Subjects: Ancestors, gods, mythological figures
Crowns: Helmeted (Mars, Roma)

Early Empire

Style: Idealized but recognizable
Subjects: Emperor, family members
Crowns: Laureate (victory), radiate (sun god association)

Crisis Era

Style: Crude, stylized, militarized
Subjects: Emperor only, exaggerated features
Crowns: Radiate (antoninianus), laureate

Late Empire

Style: Schematic, symbolic, facing busts
Subjects: Emperor, co-emperors
Crowns: Diadem, pearl-rimmed

Gods & Personifications

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Pax

Appearance: Woman with olive branch, cornucopia
Message: Peace and prosperity under emperor
Common Under: Augustus, Hadrian, Antoninus Pius

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Victoria

Appearance: Winged woman with wreath, palm
Message: Military victory, imperial success
Common Under: All military emperors

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Virtus

Appearance: Warrior with spear, shield
Message: Military courage, masculine virtue
Common Under: Soldier emperors, crisis periods

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Concordia

Appearance: Woman with cornucopia, patera
Message: Harmony (within army, with senate)
Common Under: Transition periods, joint rules

Military Propaganda

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Captives

Bound prisoners, often with specific ethnic features indicating defeated enemies

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Standards

Military standards (aquila, signa) indicating army loyalty and recovered lost standards

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Trophies

Piles of captured weapons, armor celebrating specific victories

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Eagle

Legionary eagle, symbol of Roman military power and Jupiter's favor

Architecture & Monuments

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Temples

Specific temples (Jupiter Capitolinus, Venus and Roma) showing piety and building programs

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Bridges

Engineering achievements, especially Trajan's bridge over Danube

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Arenas

Colosseum, circuses showing public entertainment and imperial generosity

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Columns

Trajan's Column, Marcus Aurelius Column showing narrative military victories

Messages to Specific Groups

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Army

Military types, donative issues, soldier loyalty messages

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Senate

Concordia, restoration coins, traditional values

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People of Rome

Annona (grain supply), liberalitas (generosity), games

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Provinces

Local types, imperial visits, provincial loyalty

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ROMAN LEGENDS & INSCRIPTIONS

Reading imperial messages without knowing Latin

The Language of Roman Power

Roman coin legends follow consistent patterns of abbreviations and titles. You don't need to read Latin—just recognize the key abbreviations that identify emperors and their claims to power.

Core Imperial Titles (Must-Know Abbreviations)

IMP
Imperator
"Commander," military victory title
AVG
Augustus
Emperor title, sacred/revered one
CAES
Caesar
Heir, junior emperor, family name
COS
Consul
Consulship count (dates reign)
TR P
Tribunicia Potestas
Tribunician power (dates reign)
P P
Pater Patriae
"Father of the Country"
P M
Pontifex Maximus
Chief priest of Roman religion

Common Legend Patterns

IMP CAES TRAIAN AVG GER DAC
Full Imperial Title

Translation: Imperator Caesar Trajan Augustus Germanicus Dacicus
Parts: IMP CAES (name) AVG (title) GER DAC (victory titles)
Emperor: Trajan

ANTONINVS AVG PIVS P P TR P XXII
With Reign Year

Translation: Antoninus Augustus Pius Pater Patriae Tribunicia Potestas 22
Dating: TR P XXII = 22nd year of tribunician power
Emperor: Antoninus Pius

D N CONSTANTINVS P F AVG
Late Roman Formula

Translation: Dominus Noster Constantinus Pius Felix Augustus
Meaning: "Our Lord Constantine, Dutiful, Fortunate Augustus"
Note: D N becomes standard in late empire

How to Date Roman Coins Using Legends

Consulship Count (COS)

Format: COS III, COS V, etc.
How It Works: Each number represents a consulship held
Example: Augustus COS XIII = 13th consulship, dates to 2 BC

Tribunician Power (TR P)

Format: TR P XII, TR P XXIII, etc.
How It Works: Renewed annually, counts years of reign
Example: Trajan TR P XVIII = 18th year = AD 115

Victory Titles

Format: GER (Germanicus), DAC (Dacicus), PAR (Parthicus)
How It Works: Added after specific victories
Example: Trajan without DAC = before Dacian Wars completion

Late Roman Mint Marks (4th–5th Centuries)

S M AN

S M: Sacra Moneta (Sacred Money)
AN: Antioch mint
Format: Mint city abbreviation after S M

TR P S

TR: Trier mint
P: Prima (first officina)
S: Silver issue

CONS Δ

CONS: Constantinople mint
Δ: Delta = 4th officina (workshop)
Officinas: Α=1, Β=2, Γ=3, Δ=4, etc.

Practical Reading Tips

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Start with AVG

Find AVG in legend—what comes before is usually the emperor's name.

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Record All Letters

Even partial legends can be searched online for identification.

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Note Unusual Letters

Late Roman uses Greek letters (Δ, Γ) for officina numbers.

For detailed legend reading help:

Roman Coin Legends Explained Guide
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ROMAN REPUBLICAN COINAGE

Moneyers, family power, and political messaging

The World Before Emperors

Republican coinage (c. 280–27 BC) represents a different system—anonymous at first, then with moneyer names, focused on family prestige and mythological references rather than imperial propaganda.

The Moneyer System

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Who Were Moneyers?

Young aristocrats starting political careers (tresviri monetales). Their coin designs promoted family history and political ambitions.

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From Anonymous to Named

Early Republic: No names (Roma/Dioseuri types)
Mid-Republic: Moneyer names appear
Late Republic: Full family propaganda

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Design Purpose

Not state propaganda but family advertising. References to ancestors, family myths, and political alliances.

Key Republican Types & Examples

Early Silver (3rd Cent. BC)

Didrachms: Greek-style, Roma/Dioseuri
First Denarius: c. 211 BC, helmeted Roma/reverse
Characteristics: Crude, heavy, influenced by Greek models

Mid-Republic Moneyers

Period: 2nd–1st centuries BC
Examples: Porcia family (crawfish), Caecilia family (elephant)
Features: Family symbols, historical references

Late Republic Portraits

Breakthrough: Julius Caesar's lifetime portrait (44 BC)
Other Portraits: Pompey, Brutus (Ides of March coin)
Significance: Transition to imperial portrait system

Why Republican Coins Are Challenging

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Moneyer Names

Requires knowledge of Roman families and abbreviations (L AEMILI BVLL = Lucius Aemilius Buca)

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Mythological References

Designs reference obscure family myths and historical events

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Higher Cost

Generally scarcer and more expensive than imperial coins

Common Beginner Traps in Attribution

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Confusing with Imperial

Problem: Assuming all Roman coins with portraits are imperial
Solution: Republican portraits are rare (Caesar onward only)

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Misreading Moneyer Names

Problem: Trying to read as imperial titles
Solution: Learn common moneyer abbreviations

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Overlooking Symbols

Problem: Missing family symbols (crawfish, elephant, etc.)
Solution: Study Crawford's Roman Republican Coinage

Republican Denominations Timeline

Before 211 BC

Didrachm: Greek-style silver
Aes Grave: Cast bronze series
Victoriatus: Lower purity silver

211–27 BC

Denarius: Main silver coin (~4.5g)
Quinarius: Half denarius
Sestertius: Silver quarter-denarius (not yet bronze)
As: Cast then struck bronze

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ROMAN IMPERIAL COINAGE BY ERA

Collector's timeline through 500 years of empire

The Imperial Journey in Coins

Each imperial dynasty and period has distinct characteristics in coin style, quality, and messaging. Knowing these eras helps with identification and appreciation.

44–27 BC
Late Republic Transition

Key Figures: Julius Caesar, Octavian (Augustus before 27 BC)
Characteristics: First lifetime portraits, civil war issues, transition to imperial system
Coin Example: Caesar elephant denarius, Octavian DIVI F coins

27 BC – AD 68
Julio-Claudian Dynasty

Emperors: Augustus, Tiberius, Caligula, Claudius, Nero
Characteristics: Family portraits, idealized but recognizable, fine style
Coin Example: Tiberius Tribute Penny, Nero debased denarius

AD 69–96
Flavian Dynasty

Emperors: Vespasian, Titus, Domitian
Characteristics: Military emperors, Judea Capta series, Colosseum
Coin Example: Judaea Capta denarii, Titus Colosseum sestertius

AD 96–192
Adoptive Emperors (Five Good)

Emperors: Nerva, Trajan, Hadrian, Antoninus Pius, Marcus Aurelius
Characteristics: Peak Roman art, extensive travel/provincial coins
Coin Example: Trajan Dacian captives, Hadrian travel series

AD 193–235
Severan Dynasty

Emperors: Septimius Severus, Caracalla, Elagabalus, Severus Alexander
Characteristics: Military focus, Syrian influence, antoninianus introduced
Coin Example: Caracalla antoninianus, Julia Domna portraits

AD 235–284
Crisis of the 3rd Century

Characteristics: Rapid emperors (20+), severe debasement, crude style
Key Emperors: Gallienus, Aurelian, Claudius Gothicus
Coin Example: Gallienus antoninianus (5% silver), Aurelian reformed

AD 284–324
Tetrarchy & Constantinian

Key Figures: Diocletian, Constantine, Tetrarchs
Characteristics: Military portraits, mint marks, Christian symbols appear
Coin Example: Diocletian follis, Constantine labarum solidus

AD 324–476
Late Roman Empire

Characteristics: Christian symbolism, facing portraits, crude style
Key Dynasties: Valentinian, Theodosian
Coin Example: Theodosius I siliqua, Honorius bronze

Style Evolution Across Eras

Early Empire (27 BC – AD 96)

Portraits: Realistic, individualized, fine detail
Reverse Art: High quality, complex scenes
Legends: Neat, carefully engraved

High Empire (AD 96–235)

Portraits: Idealized but strong, psychological depth
Reverse Art: Peak artistic achievement, propaganda mastery
Legends: Standardized, sometimes crowded

Crisis (AD 235–284)

Portraits: Crude, stylized, militaristic
Reverse Art: Simple, repetitive types
Legends: Often blundered, poorly engraved

Late Empire (AD 284–476)

Portraits: Schematic, symbolic, facing busts
Reverse Art: Simple Christian symbols, standing figures
Legends: Abundant mint marks, officina letters

Collector Focus by Era

Julio-Claudian

Popular: Famous emperors (Augustus, Nero)
Challenge: Expensive, especially good portraits
Entry Point: Lower grade bronzes, worn denarii

Five Good Emperors

Popular: Trajan, Hadrian, Marcus Aurelius
Strength: Best artistic quality
Entry Point: Sestertii (expensive but available)

3rd Century Crisis

Popular: Gallienus, Aurelian
Strength: Affordable, historical interest
Entry Point: Antoniniani (common but crude)

Late Roman

Popular: Constantine, Theodosius
Strength: Christian transition, mint marks
Entry Point: Bronzes (very affordable)

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ROMAN MINTS & MINT MARKS

Where Roman coins were made and how to tell

The Geography of Roman Coin Production

Roman mints moved and multiplied as the empire grew. Mint marks help date coins and identify where they were struck, affecting style and scarcity.

Major Mints Collectors Encounter

Rome

Period: Republic to late Empire
Marks: R, RM, ROM, ROMA, S M R
Style: Official, conservative, highest quality early on
Note: Primary mint until 3rd century crisis

Lugdunum (Lyon)

Period: Augustus to 3rd century
Marks: L, LG, LVG, LVGD
Style: Fine early imperial gold and silver
Note: Major imperial mint under Julio-Claudians

Trier (Augusta Treverorum)

Period: 3rd–5th centuries
Marks: TR, TRE, TRS, TROB, PT
Style: Germanic frontier style, often crude
Note: Important late Roman mint, often usurper issues

Antioch

Period: 1st–7th centuries
Marks: AN, ANT, ANTOB, SMAN
Style: Eastern Roman, Greek influence
Note: Major eastern mint, continued into Byzantine

Understanding Mint Mark Systems

Early Imperial (1st–3rd Centuries)
  • Simple: City abbreviations only (R, L, ALEX)
  • Location: Usually in exergue (line below design)
  • Purpose: Basic mint identification
  • Examples: R (Rome), L (Lugdunum), ALEX (Alexandria)
Late Roman (4th–5th Centuries)
  • Complex: Multiple elements in standardized order
  • Format: [S M] [Mint] [Officina] [Issue Mark]
  • Example: S M AN Δ = Sacred Money Antioch 4th officina
  • Officinas: Α=1, Β=2, Γ=3, Δ=4, Ε=5, etc.

Why Mint Matters for Collectors

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Style Identification

Rome: Conservative, fine style
Trier: Crude, Germanic influence
Antioch: Eastern, Greek lettering

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Scarcity & Value

Some mints produced fewer coins
Certain mints associated with usurpers
Provincial mints often scarcer than Rome

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Dating Clues

Mint opened/closed dates
Mint mark style changes over time
Some mints only active during crises

Common Mint Marks Reference

Mark Mint Modern Location Active Period Notes
R, ROM, ROMA Rome Italy 280 BC – AD 476 Primary mint, conservative style
L, LG, LVG Lugdunum Lyon, France 15 BC – AD 413 Major Julio-Claudian mint
TR, TRE, TRS Trier Germany AD 293–430 Important late Roman mint
ANT, AN, SMAN Antioch Turkey AD 1–610 Major eastern mint, Byzantine continuation
CON, CONS, CONOB Constantinople Istanbul, Turkey AD 330–1453 Founded by Constantine, became Byzantine capital
AQ, AQVIL Aquileia Italy AD 294–425 Important Tetrarchy mint
AL, ALE, ALEX Alexandria Egypt AD 294–421 Egyptian mint, Greek letters, local types
SIS, SISC Siscia Croatia AD 260–387 Important 3rd–4th century mint

Officina System (Workshops Within Mints)

What were officinas? Separate workshops within a mint, each with its own staff and equipment. They helped increase production and provided quality control through competition.

How identified: By Greek or Latin letters/numbers after mint mark:

Greek Letters (Common in East)

Α = 1st officina
Β = 2nd officina
Γ = 3rd officina
Δ = 4th officina
Ε = 5th officina

Latin Letters/Numbers (West)

P = Prima (1st)
S = Secunda (2nd)
T = Tertia (3rd)
Q = Quarta (4th)
V = 5, VI = 6, etc.

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HOW TO IDENTIFY ROMAN COINS (MASTER METHOD)

A practical, repeatable system for attribution

The Five-Step Identification Method

This systematic approach works for any Roman coin, from Republic to late Empire. Follow these steps in order for reliable attribution.

1
Determine Denomination

Check Metal: Gold (aureus/solidus), Silver (denarius/antoninianus), Bronze (sestertius/as/follis)
Measure Size: Large (~32mm = sestertius), Medium (~25mm = as/dupondius), Small (~19mm = denarius)
Check Portrait Crown: Laureate (as, sestertius), Radiate (antoninianus, dupondius)
Weigh: Compare to expected weights for era

2
Identify Emperor

Read Obverse Legend: Look for AVG (after name), IMP, CAES
Analyze Portrait: Compare to known portraits, note distinctive features
Check Imperial Titles: GER, DAC, PAR (victory titles date reign)
Note Family Features: Julio-Claudians share features, beards appear with Hadrian

3
Read Reverse Type & Legend

Identify Reverse Figure: God (Jupiter, Mars), Personification (Pax, Victoria), Emperor activity
Read Reverse Legend: Often indicates occasion (VICTORIA, CONCORDIA, RESTITVTOR)
Note Symbols: Captives, standards, architectural elements
Check for Dating: COS numbers, TR P numbers

4
Check Mint Marks (Late Empire)

Location: Usually in exergue (line below design)
Format: S M [mint] [officina] for 4th–5th centuries
Common Mints: R (Rome), TR (Trier), ANT (Antioch), CONS (Constantinople)
Officina Marks: Greek letters (Α, Β, Γ, Δ) or Latin (P, S, T)

5
Confirm by Style & Fabric

Style Analysis: Fine (early Empire), crude (3rd century), schematic (late Empire)
Fabric Check: Planchet quality, centering, edge treatment
Weight Verification: Does weight match era expectations?
Cross-Reference: Use RIC (Roman Imperial Coinage), Sear, or online databases

Quick "Coin Show Checklist"

Common Misidentifications to Avoid

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Similar Emperors

Problem: Confusing Hadrian with Antoninus Pius
Solution: Hadrian has beard, ANTONINVS vs HADRIANVS legend
Problem: Gallienus vs other 3rd century emperors
Solution: Gallienus has distinctive long face, spiky crown

⚠️
Denomination Confusion

Problem: As vs dupondius (both medium bronze)
Solution: Dupondius has radiate crown, orichalcum (yellow)
Problem: Denarius vs early antoninianus
Solution: Antoninianus larger, radiate crown, introduced Caracalla

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Provincial vs Imperial

Problem: Greek imperial vs Roman imperial
Solution: Greek letters on reverse, local types
Problem: Late Roman vs early Byzantine
Solution: Byzantine has facing portraits, Greek legends, Christian symbols

Essential Identification Tools

📚
Reference Books

RIC: Roman Imperial Coinage (multi-volume)
Sear: Roman Coins and Their Values
Cohen: Description historique des monnaies
Wildwinds: Online database (wildwinds.com)

🛠️
Physical Tools

Scale: 0.01g precision
Calipers: For accurate diameter
Loupe: 10x magnification minimum
Light: Good illumination for detail

💻
Online Resources

OCRE: Online Coins of the Roman Empire
ACSearch: Auction archives
FORVM: Ancient coin community
NumisDon: Our identification guides

For detailed identification help:

Complete Roman Coin Identification Guide
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VALUES & WHAT DETERMINES PRICE

Understanding the Roman coin market

The Roman Coin Market Reality

Roman coin prices aren't random. They're determined by specific factors that collectors and dealers all recognize. Understanding these factors helps you buy wisely and build a meaningful collection.

Key Factors Determining Price

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Emperor Popularity

High Demand: Augustus, Nero, Trajan, Hadrian, Constantine
Why: Name recognition, historical interest, attractive portraits
Premium: Can double or triple price vs similar emperors

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Condition (Grade)

Scale: Poor → Fair → Good → Very Good → Fine → Very Fine → Extremely Fine → AU
Rule: Each grade jump can increase price 50–200%
Reality: Most ancient coins are VF or below

🎨
Eye Appeal

Elements: Centering, strike quality, artistic style, surface quality
Patina: Attractive toning (green, red, rainbow) adds premium
Warning: Artificial patina destroys value

Rarity vs Demand: The Biggest Misunderstanding

Rare But Unloved

Example: 3rd century emperor like Trebonianus Gallus
Why: Historically obscure, crude portraits
Price: May be lower than common Trajan denarius
Lesson: Rarity alone doesn't guarantee high price

Common But Popular

Example: Constantine the Great follis
Why: Name recognition, Christian transition, attractive type
Price: May be higher than rarer but obscure types
Lesson: Demand drives market more than pure scarcity

Realistic Price Ranges (2024 Market)

Entry Level Bronze

Late Roman Bronze: $20–$50
Common As/Dupondius: $50–$150
Worn Sestertius: $100–$300

Examples: Constantius II follis, Claudius II as, worn Hadrian sestertius

Silver Denarii

Common Emperor (VF): $100–$300
Popular Emperor (VF): $300–$800
Republican Denarius: $200–$600
Fine Quality/Type: $800–$2,000+

Examples: Severus Alexander denarius, Trajan denarius, Caesar elephant denarius

Gold & Premium Pieces

Solidus (VF): $1,500–$3,000
Aureus (any condition): $3,000–$10,000+
Exceptional Sestertius: $1,000–$5,000
Rare Reverse Type: $500–$5,000+

Examples: Theodosius I solidus, Nero aureus, Trajan Column sestertius

Smart Buying Tips for Value

🎯
Buy the Best You Can Afford

One EF denarius is better than three poor ones. Quality holds value better.

📈
Focus on Eye Appeal

Well-centered, attractive patina, good strike sells better than technically higher grade.

🏛️
Consider Obscure Emperors

You can often get better condition/type for same price as famous emperor.

The Provenance Premium

📜
What is Provenance?

Documented history of ownership. Old collections, famous provenance adds 20–100% premium.

🏆
Important Collections

BMC (British Museum), Hunterian, Naville, Jameson. Catalog references increase value.

⚠️
Fresh vs Market-Worn

Coins new to market often sell higher than coins circulating in auctions for years.

⚔️

FORGERIES, CASTS & TOOLED COINS

How to avoid fakes and altered coins

The Reality of Ancient Coin Fakes

Fakes exist at all price levels. Some are ancient (contemporary counterfeits), most are modern. Knowing what to look for protects your collection and investment.

Types of Fakes & Altered Coins

🔥
Cast Fakes

How Made: Molten metal poured into mold from genuine coin
Telltale Signs:
• Bubbles/pits on surface
• Rounded details (mushy appearance)
• Seam line around edge
• Wrong weight (often lighter)
Common For: Bronze coins, especially sestertii

⚒️
Struck Modern Fakes

How Made: Modern dies used to strike coins
Telltale Signs:
• Too sharp/perfect for ancient
• Wrong metal composition
• Style anomalies (modern art)
• Die wear patterns wrong
Common For: Gold aurei, rare denarii

🔧
Tooled Coins

How Made: Genuine coin altered to enhance value
Telltale Signs:
• Sharp tool marks in fields
• Re-engraved details (hair, letters)
• Inconsistent wear patterns
• Added symbols/legends
Common For: Adding rare mint marks, improving portraits

How to Detect Fakes

👁️
Visual Inspection (10x Loupe)

Look For:
• Bubbles, porosity (cast)
• Tool marks, re-engraving
• Inconsistent wear
• Style anomalies
• Edge seams

⚖️
Weight & Measurement

Check:
• Weight vs expected range
• Diameter consistency
• Thickness (often wrong on fakes)
• Specific gravity test (for metal purity)
• Compare to known genuine examples

🔊
"Ring" Test & Feel

Sound: Cast coins thud, struck coins ring
Feel: Cast coins often light, wrong balance
Edge: Check for casting seams
Magnetism: Many fakes are magnetic (contains iron)

Commonly Faked Roman Coins

⚠️
Julius Caesar Lifetime Portrait

Extremely rare, expensive. Most on market are fakes or later issues.

⚠️
Gold Aurei (All Periods)

High value targets. Be extra cautious, use expert verification.

⚠️
Sestertii with Rare Reverse Types

Often cast fakes. Check for porosity and weight.

⚠️
Constantinian Bronzes with Chi-Rho

Popular Christian symbol often added to common types.

Artificial Patinas & Toning

🎨
How to Spot Artificial Patina

Too Even: Natural patina develops unevenly
Wrong Colors: Bright green/blue often chemical
Paint-Like: Artificial patina sits on surface, doesn't integrate
Rubbed Areas: High points should show metal through patina
Smell: Some chemicals leave odor (vinegar, ammonia)

Warning: Cleaning removes artificial patina but also destroys any value. Never buy coins with questionable surfaces.

Safe Buying Habits

🤝
Buy From Reputable Sources

Established dealers, major auctions (CNG, Roma, Heritage). Check return policies.

📸
Insist on Good Photos

Both sides, edge, close-ups. Beware sellers who refuse good photos.

⏳
Take Your Time

Don't rush purchases. Research, compare, sleep on decisions.

👥
Get Second Opinions

Use online forums (FORVM, CoinCommunity) to vet coins before buying.

"Tourist Replicas" & Fantasy Issues

🛍️
Modern Souvenir Coins

These are NOT ancient. Common in Mediterranean tourist shops. Characteristics:

  • Often say "COPY" or have modern mint marks
  • Wrong size/weight (usually too light)
  • Sharp edges (not worn like ancient)
  • Shiny new appearance (no real wear)
  • Fantasy combinations (emperor with wrong reverse)

Rule: If price seems too good to be true, it probably is.

⚔️

COLLECTING ROMAN COINS (BEGINNER → ADVANCED)

Building a meaningful Roman collection

Your Roman Numismatic Journey

Roman coin collecting offers endless possibilities. The key is developing a strategy that matches your interests, budget, and learning goals.

Where to Buy Safely

🏛️
Major Auction Houses

Examples: CNG, Roma, Heritage, Nomos
Pros: Expert attribution, guarantees, cataloging
Cons: Buyer's premium (15–25%), competitive bidding
Best For: Quality coins, rare types, building collection

🏪
Specialist Dealers

Examples: VCoins, MA-Shops reputable sellers
Pros: Fixed prices, relationships, advice, returns
Cons: Higher markups, variable stock
Best For: Beginners, specific wants, trusted guidance

🤝
Coin Shows & Clubs

Examples: Local coin shows, ANS events, ancient coin clubs
Pros: Handle coins, meet experts, no shipping
Cons: Limited selection, need expertise to vet
Best For: Experienced collectors, networking

Collection Strategies by Theme

Twelve Caesars Set

Goal: One coin from each Julio-Claudian emperor
Challenge: Caligula rare/expensive, good portraits costly
Budget: $2,000–$10,000+
Tip: Start with common emperors, save for Caligula

Five Good Emperors

Goal: Nerva, Trajan, Hadrian, Antoninus Pius, Marcus Aurelius
Strength: Peak Roman art, historical significance
Budget: $1,500–$5,000 for nice examples
Tip: Sestertii show art best but are expensive

By Denomination

Goal: One of each major denomination
Include: Aureus, denarius, sestertius, as, follis, solidus
Budget: $3,000–$15,000+ (gold expensive)
Tip: Start with bronzes, work up to silver, then gold

By Reverse Type

Goal: All major reverse personifications
Examples: Pax, Victoria, Concordia, Virtus, Aequitas
Budget: $500–$3,000
Tip: Shows how Romans communicated values

Recommended Beginner Paths

Absolute Beginner

1. Start with late Roman bronzes ($20–$50 each)
2. Learn identification basics
3. Practice reading legends
4. Understand mint marks
Budget: $200 for first 5–10 coins

Intermediate Starter

1. Buy one nice denarius ($200–$400)
2. Add a sestertius ($300–$600)
3. Get late Roman silver ($150–$300)
4. Start thematic collection
Budget: $1,000 for quality start

Focused Collector

1. Choose specific emperor or era
2. Buy best examples you can afford
3. Study references deeply
4. Consider die studies
Budget: $2,000+ for focused collection

Storage, Handling & Cataloging

📦
Storage Solutions
  • Mylar flips: Acid-free, clear viewing
  • Capital Plastics holders: For sestertii/large coins
  • Archival boxes: For organized storage
  • Climate control: Stable temperature/humidity
  • Avoid PVC: Causes green corrosion on bronze
👐
Handling Guidelines
  • Clean hands or gloves: Cotton or nitrile
  • Hold by edges: Never touch surfaces
  • Soft surface: Felt pad when examining
  • Never stack coins: Causes edge damage
  • Careful with silver: Fingerprints cause toning
📝
Cataloging System
  • Inventory number: Sequential (ROM001, ROM002)
  • Complete description: Emperor, denomination, date
  • References: RIC number, Sear number
  • Purchase details: Source, price, date
  • Photos: Both sides, scale included
⚠️
Cleaning Rules (STRONG Warnings)

Never clean Roman coins beyond gentle distilled water if absolutely necessary. Cleaning:

  • Destroys historical patina (removes value)
  • Creates artificial, unattractive surfaces
  • Often damages delicate details
  • Reveals corrosion or bronze disease
  • Marks coin as "cleaned" (market penalty)

If unsure, leave it alone. Professional conservation is expensive and only for serious problems like bronze disease.

Collector Progression Guide

Beginner (First Year)

Focus: Late Roman bronzes, common denarii
Skills: Basic attribution, legend reading, mint marks
Budget: $50–$300 per coin
Goal: Build confidence, learn fundamentals

Intermediate (1–3 Years)

Focus: Better silver, specific emperors/themes
Skills: Style recognition, reverse type knowledge
Budget: $300–$1,000 per coin
Goal: Develop specialized knowledge, build theme

Advanced (3+ Years)

Focus: Rare types, exceptional quality, die studies
Skills: Advanced attribution, market knowledge, research
Budget: $1,000+ per coin
Goal: Build significant collection, contribute to field

Essential Reference Library

For All Collectors

Sear: Roman Coins and Their Values (5 vols)
RIC: Roman Imperial Coinage (relevant volumes)
Van Meter: Handbook of Roman Imperial Coins

Specialized

Crawford: Roman Republican Coinage
Cohen: Description historique des monnaies
BMC: British Museum Catalogues

Online Resources

OCRE: Online Coins of the Roman Empire
Wildwinds: Comprehensive database
ACSearch: Auction price archives
FORVM: Ancient coin community

⚔️

ROMAN COINS IN HISTORY

How coins document Rome's rise, crisis, and transformation

Coins as Historical Documents

Roman coins are primary historical sources that document economic trends, political propaganda, religious changes, and military events across 700+ years of history.

Economic Crises Visible in Coinage

Nero's Debasement (AD 64)

What: First major reduction in silver purity
Visible in: Denarius weight drops, silver content decreases
Historical Context: Great Fire of Rome, rebuilding costs

3rd Century Collapse (AD 235–284)

What: Hyperinflation, severe debasement
Visible in: Antoninianus goes from ~50% to ~5% silver
Historical Context: Military anarchy, barbarian invasions, plague

Diocletian's Price Edict (AD 301)

What: Attempt to control inflation
Visible in: New coinage system (argenteus, follis)
Historical Context: Economic reform after crisis, tetrarchy

Political Transitions Documented

👑
Republic to Empire

Coin Evidence: Anonymous issues → moneyer names → imperial portraits
Key Coin: Julius Caesar lifetime portrait (44 BC)
Historical Significance: Visualizes end of Republic

⚔️
Year of Four Emperors (AD 69)

Coin Evidence: Four different emperors in one year
Key Coins: Galba, Otho, Vitellius, Vespasian issues
Historical Significance: Civil war, Flavian dynasty established

🏛️
Tetrarchy System (AD 293)
Tetrarchy System (AD 293)

Coin Evidence: Four equal emperors on coins
Key Coins: Diocletian, Maximian, Constantius, Galerius
Historical Significance: Attempt to stabilize empire after crisis

Religious Transition: Pagan to Christian

Traditional Paganism (27 BC – AD 312)

Coins Show: Jupiter, Mars, Apollo, traditional gods
Imperial Cult: DIVVS (divine) title for dead emperors
Examples: Augustus with Capricorn, Antoninus Pius with temple

Transition Period (AD 312–363)

Coins Show: Both Christian and pagan symbols
Chi-Rho: Constantine's Christian symbol appears
Examples: Constantine labarum standard, Julian pagan revival

Christian Empire (AD 363–476)

Coins Show: Cross, angel, Christian emperor portraits
Pagan Symbols: Gradually disappear
Examples: Theodosius I with cross, Victory becomes angel

Military Campaigns & Victories

Dacian Wars (Trajan, AD 101–106)

Coins: DAC CAPT (Dacia Captured) legends
Types: Captive Dacians, trophies, Danube bridge
Column: Trajan's Column depicted on coins

Jewish Revolt (Vespasian/Titus, AD 66–73)

Coins: IUDAEA CAPTA series
Types: Captive Judea, palm tree, trophy
Temple: Jewish Temple spoils funding Colosseum

Gothic Wars (Claudius II, AD 268–270)

Coins: GOTHICUS MAXIMUS title
Types: Victory over Goths, captive barbarians
Significance: Temporary stabilization during crisis

Why Coins Are Primary Historical Sources

1
Contemporary Evidence

Coins were made during events, not written later like histories (which often have bias).

2
Official State Messages

Coin designs were approved by authorities, showing what they wanted people to believe.

3
Economic Data

Metal content, weight changes show inflation, economic policies, and crises.

4
Geographic Spread

Where coins are found shows trade routes, military movements, and imperial control.

Famous Coins with Historical Significance

EID MAR Denarius (Brutus, 42 BC)

Significance: Celebrates assassination of Julius Caesar
Legend: EID MAR (Ides of March)
Rarity: Extremely rare, most expensive Roman coin

Tribute Penny (Tiberius, AD 14–37)

Significance: Likely the "coin" shown to Jesus
Type: Tiberius with Livia as Pax
Biblical: "Render unto Caesar..." reference

Constantinian Labarum (AD 337–340)

Significance: First Christian symbol on Roman coins
Symbol: Chi-Rho with "In hoc signo vinces"
Historical: Marks Christianization of empire

⚔️

TRANSITION TOWARD BYZANTINE COINAGE

How Roman coins evolved into Byzantine coinage

The Continuity of Roman Coinage

There was no clear break between "Roman" and "Byzantine" coinage. Instead, a gradual evolution occurred from the 4th to 7th centuries AD, with the Eastern Roman Empire continuing Roman traditions for another 1,000 years.

Key Changes in Late Roman Coinage

👑
Portrait Style

Roman: Profile, realistic (early), then schematic
Byzantine: Frontal, hieratic, heavily symbolic
Transition: 4th–5th centuries see facing busts appear

✝️
Religious Symbols

Roman: Pagan gods → Christian symbols
Byzantine: Explicit Christian iconography
Transition: Cross replaces Victoria, Christ appears

🔤
Language

Roman: Latin legends (with Greek in East)
Byzantine: Greek legends dominate
Transition: Bilingual issues, then Greek takes over

Constantine's Reforms: Foundation for Byzantine System

💰
Solidus Introduction (AD 312)

Weight: 4.5g pure gold (24 karat)
Stability: Remained stable for 700+ years
Significance: Became Byzantine nomisma, backbone of economy

🏛️
Constantinople Mint (AD 330)

Mark: CONOB, CON, CONS
Significance: New imperial capital, major mint for centuries
Continuity: Remained primary Byzantine mint

✝️
Christian Symbolism

Labarum: Military standard with Chi-Rho
Appearance: First on Constantinian coins
Significance: Official adoption of Christian symbols

Timeline: Roman to Byzantine Coinage

AD 284–395
Late Roman Empire

Characteristics: Latin legends, imperial portraits, mint marks
Key Coins: Follis, siliqua, solidus
Transition Signs: Christian symbols appear, facing portraits begin

AD 395–491
Theodosian & Post-Roman West

Characteristics: West collapses (476), East continues
Key Coins: Solidus continues, bronze declines in West
Transition Signs: Greek influence increases in East

AD 491–602
Early Byzantine (Anastasian Reform)

Characteristics: Greek legends, facing portraits, follis reintroduced
Key Coins: Gold solidus, copper follis
Transition Complete: Clearly Byzantine style established

AD 602–1453
Byzantine Empire Proper

Characteristics: Christ portraits, full Greek legends, iconographic changes
Key Coins: Histamenon, hyperpyron, trachy
Continuity: Direct evolution from Roman system

Distinctively Byzantine Features

👁️
Facing Portraits

Emperors face front, often with Christ or Virgin Mary on reverse. Hieratic, symbolic style rather than realistic.

🇬🇷
Greek Legends

BASILEUS (king) replaces IMPERATOR, Greek titles and mint marks. Language shift reflects cultural Hellenization.

✝️
Christian Iconography

Crosses, Christ Pantocrator, saints, biblical scenes. Coins become religious objects as well as currency.

🏛️
Constantinople Focus

CONOB mint mark dominates. New Rome becomes center of coin production for millennium.

For Roman Collectors: The Byzantine Connection

🔄
Continuity of Denominations

Solidus → Nomisma → Hyperpyron (gold continuity)
Follis → Byzantine follis (bronze continuity)
Siliqua → Hexagram (silver evolution)

🎨
Artistic Evolution

Roman realism → Late Roman schematic → Byzantine symbolic
Same imperial propaganda tradition, different visual language
Study both to understand full 2,000-year story

📚
Research Connections

RIC (Roman Imperial Coinage) → DOC (Byzantine coin catalog)
Same scholarly methods apply
Many Roman mints continue as Byzantine mints

Starting Byzantine Collecting After Roman

🎯
Natural Progression

Start with late Roman/early Byzantine transition coins (4th–6th centuries). These show the evolution clearly.

💰
Affordable Entry

Byzantine bronzes are often more affordable than Roman. Good quality folles available for $20–$100.

🔍
Similar Skills

Legend reading (just Greek instead of Latin), mint mark identification, style analysis – skills transfer directly.

Continue your journey into Byzantine coinage:

Byzantine Coins Complete Guide

The Roman Numismatic Legacy

Roman coinage represents one of history's most sophisticated systems of state communication, economic management, and artistic expression. From the crude aes rude to the magnificent solidus, Roman coins document the full arc of Western antiquity.

"In their portraits of emperors and messages of power, Roman coins created a visual language of empire that would influence European coinage for a millennium and Byzantine coinage for another millennium beyond that."

Your Roman Journey Continues

Whether you collect Republican moneyer issues, imperial denarii, or late Roman bronzes, each coin connects you to the art, politics, and economy of ancient Rome. The coins have survived empires, and now they await your study and appreciation.

Ready to Start Your Roman Collection?

Browse Roman Coins Identification Guide Byzantine Transition