Ancient Roman Coins for Sale

In the earliest years of the Ancient Roman economy, a lumpy bronze ingot, known as Aes Rude (or raw bronze), served as its primary monetary system valued by its weight. In the centuries following, the rudimentary ingot evolved into the first Roman coin, the Aes Signatum, meaning ‘signed bronze.’ While the Aes Signatum was cast in a consistently sized rectangular shape and a standard weight, the lack of fractional versions made making change a challenge. Within a few short years of its introduction, the Aes Signatum was replaced with the Aes Grave coin featuring a round design and several fractional denominations. This version of coinage remained the primary issue in Rome until about 215 BC when it was replaced with the base unit of Roman currency, the As. Over time the As lost monetary significance, similar to the U.S. penny, and was eventually replaced with the Sestertius.

THE VALUE OF THE ANCIENT ROMAN AS

As seen in Sitta von Reden’s book, Money in Classical Antiquities, an interesting comparison of grain prices during the late republican and imperial time frames illustrates the changing value of the As. Of note, a grain shortage during the conflict with Hannibal resulted in the need to import the crop from Egypt, increasing prices.

Modius of Grain Price Changes
Date	Price
250 BCE	1 As
210 BCE	25 Asses
203 BCE	4 Asses
201 BCE	4 Asses
200 BCE	2 Asses
196 BCE	2 Asses
123 BCE	1.6 Sestertius
100 BCE	8 Sestertii
64 CE	3 Sestertii

 

ROMAN DENOMINATIONS DEFINED

While Ancient Roman coin denominations were introduced and eliminated over the centuries, each embodies a significant historical background. Below is a brief description of the denominations frequently found in our Ancient Coin inventory. As one of the world’s foremost numismatic experts, Finest Known will procure specific ancient coins on your behalf. Please do not hesitate to contact us for assistance.

As

The original As coin, cast in bronze, weighed in at an impressive one pound and set the base standard of measurement for Roman coin denominations. Over a period of 70 years, the coin’s weight was reduced to a 1/6th pound and was eventually struck in copper with a traditional stamping process. While the earliest versions of Roman coins often featured gods or goddesses, the later versions depicted emperors with a bare or laureate-adorned head in profile.

Finest Known Specimens have included:

• Twelve Caesars Roman Empire 27 BC - 14 AD Augustus Bronze As NGC CH AU 5 3
  • Grade: CH AU
  • Price: $4350
  • Strike: 5
  • Surface: 3 
• Twelve Caesars Roman Empire 54-68 AD Nero Bronze As NGC CH XF 5 2
  • Grade: CH XF
  • Price: $1090
  • Strike: 5
  • Surface: 2

Aureus

Initially issued by Julius Caesar in 46 BC, the Aureaus was the Roman Empire’s standard gold monetary unit worth 25 Denarii. Gold coins were inconsistently minted when needed during times of conflict or silver mine depletion; Although the Aureus’ gold content remained consistently high over its many years in circulation. Constantine the Great replaced the coin with the Solidus in the reform of AD 312. 

Finest Known Ancient Roman Specimens have included:

• Roman Empire 27 BC AUGUSTUS AUREUS
  • Grade: CH XF Fine Style
  • Price: $50,000
  • Strike: 5
  • Style: 3
• Twelve Caesars Roman Empire 27 BC - 14 AD Augustus Gold Aureaus
  • Grade: CH VF
  • Price: $51,000
  • Strike: 4
  • Style: 3

Solidus

Towards the end of the Roman Empire, the final changes to the ancient Roman monetary system were made. Constantine introduced the gold Solidus to replace the Aureus. The coins minted during his reign took on a new look reflecting artistic interpretations rather than true depictions of the emperor as well as Christian religious references. The Solidus coin, later struck by the Byzantines, circulated for seven centuries in European commerce.

• 685-695 AD Justinian II Byzantine Empire Gold Solidus (First Portrait of Christ) 
  • Grade: MS
  • Price: $16,000
  • Strike: 2
  • Style: 5
• Important Civilizations Byzantine Empire 685-695 AD Justinian II Gold Solidus
  • Grade: MS
  • Price: $7675
  • Strike: 4
  • Style: 2

Denarius

Although silver coinage was introduced into the Roman economy sometime during the tenure of the Aes Graves, the Denarius, first struck in 211 BC, became the silver standard. The Denaurius started out as a 5% silver alloy and slowly decreased to 50% as a result of inflation, diminishing precious metals supply, and the fluctuating state of the Roman Empire. Each coin was originally equal to 10 Asses and in 118 BC was revalued to 16 Asses to reflect the declining value of the As. During the rule of Gordian III, approximately 238 AD to 244 AD, the Denarius disappeared from circulation.

• Twelve Caesars Roman Empire 44 BC Julius Caesar Silver Denarius
  • Grade: CH AU
  • Price: $32,000
  • Strike: 4
  • Style: 3
• SEPTIMUS SEVERUS AD 193-211 SILVER DENARIUS
  • Grade: CH AU
  • Price: $275
• Twelve Caesars Roman Empire 44 BC Julius Caesar Silver Denarius NGC XF 4 2
  • Grade: XF
  • Price: $8325
  • Strike: 4
  • Style: 2

Sestertius

The Sestertius was introduced around 211 BC as a small silver coin valued at 2.5 Asses. With the decline in value of the As, the Sestertius was re-tariffed to 4 Asses and produced until about 44 BC. The coin was reintroduced by Augustus around 23 BC but reformatted to consist of orichalcum (brass). The newly released Sestertius’ impressive size made room for emperors to depict their noteworthy triumphs or virtues. By the 3rd century AD, the Sestertius was once again redesigned into a smaller bronze coin, and after Gallienus' reign from 253 - 268 AD, minting of the coin was completely terminated.

• Twelve Caesars 79-81 AD Titus Colosseum Bronze Sestertius
  • Grade: VG
  • Price: $84,375
  • Strike: 5 
  • Style: 1
• Nero Bronze Sestertius, Port of Ostia, Lugdunum, 31.60g
  • Grade: CH AU
  • Price: $72,500
  • Strike: 4
  • Style: 2

DENOMINATION EXCHANGE CHART:

Units	=	Coins	Metal
1 As	=	One Unit	Bronze, later Copper
2 Asses	=	1 Dupondius	Bronze
4 Asses	=	1 Sestertius	Silver, later Copper-Zinc Alloy
16 Asses	=	1 Denauris	Silver
8 Dupondii	=	1 Denarius	Silver
4 Sestertii	=	1 Denarius	Silver
2 Denarii	=	1 Antoninianus	Silver, later mostly Bronze
25 Denarii	=	1 Aureus	Gold