Welcome to the Rare Coins Market! Coin collecting is a most interesting hobby and can be very rewarding. Known as the "Hobby of Kings", collecting rare coins is an old tradition going all the way back to the time of the Roman Empire.
Ancient coins are archaeological treasures from the past. Throughout history, ancient coins have been considered a valuable collectible. Many high quality ancient coins can still be acquired today at surprisingly reasonable prices.
With the advent of the Internet, of course, a vast amount of coin collecting information and resources is only a few mouse-clicks away. Here at the Rare Coins Market, we want to help point you in the right direction and provide a taste of the rare coins marketplace.
Online auction sites like eBay are one excellent source for great deals on rare and ancient coins of all kinds. Use the menu on the left for easy navigation of the current eBay auctions going on.
Coin Condition and Value
In coin collecting the condition of a coin is paramount to its value; a high-quality example is often worth many times more than a poor example. There are always exceptions to this generalization. Collectors have created systems to describe the overall condition of coins. One older system describes a coin as falling within a range from "poor" to "uncirculated". The newer Sheldon system, used primarily in the US, has been adopted by the American Numismatic Association. It uses a 1–70 numbering scale, where 70 represents a perfect specimen and 1 represents a barely identifiable coin.
Several coin grading services will grade and encapsulate coins in a labeled, air-tight plastic holder. This process is commonly known as coin slabbing and is most prevalent in the US market. Two highly respected grading services are the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS). However, professional grading services are the subject of controversy because grading is subjective; coins may receive different grades by different services or even upon resubmission to the same service. Due to potentially large differences in value over slight differences in a coin's condition, some commercial coin dealers will repeatedly resubmit a coin to a grading service in the hope of a higher grade. The grading services came into being (PCGS being first) in an effort to bring more safety to investors in rare coins. While they have reduced the number of counterfeits foisted upon investors and have improved matters substantially, the goal of creating a sight-unseen market for coins remains somewhat elusive.
Damage of any sort (e.g. holes, edge dents, repairs, cleaning, re-engraving or gouges) can substantially reduce the value of a coin. Specimens are occasionally cleaned or polished in an attempt to pass them off as higher grades or as uncirculated strikes. Because of the substantially lower prices for cleaned or damaged coins, some specialize in their collection. There is a market for almost any rare or obsolete coin.
A Very Brief History of Ancient Coins
The Greek World
Coins first appeared in Asia Minor during the seventh century B.C., and ever since have served as an important form of artistic expression as well as a convenient medium of exchange.
These ancient coins usually have a symbol of the city or ruler on the front and a crude punch mark on the back. They were the first true coins because they were made of a rare metal, of a consistent weight, and guaranteed by a government.
Around 600 BC , the island of Aegina produced what are believed to be the first Greek coins. These coins were known as silver drachmae and obols and depicted a turtle on the reverse, the symbol of Aegina.
King Croesus(561-546 B.C.) of Lydia introduced coins of pure silver and gold.
Coinage quickly spread across the island and city states of Greece.
Alexander the Great(336-323 B.C.) spread the usage of coins throughout the lands he conquered.
His successors introduced realistic portraits as a regular feature of their coinage. The likenesses of world rulers were recorded for posterity. Many of these rulers are unknown to history except through their coin portraits.
The Roman World
During the reign of Augustus Caesar, Roman nobles fascinated by Greek culture collected ancient Greek coins and antiquities. This was the beginning of the art and science of numismatics.
The Roman Empire continued the Greek tradition of producing coins having realistic portraits of rulers of the time. Roman coins also served as an important means of political propaganda, and important political events were recorded on coins of the period, during these times prior to modern news circulation.
The first Roman coins date from 269 BC when a mint for the striking of bronze, silver and gold coins was built in Rome. Roman coins were skillfully engraved and are wonderful pieces of art and of interest to the historian.
The Byzantine World
The beginning of Medieval times coincided with the rise of the Byzantine Empire in the East and the rule of Constantine the Great(307-337 A.D.). The Christian Church grew into a major political force in the Byzantine Empire, and the images on coins of the time began to relate to Christian symbols and themes.
The standard Byzantine gold coin, the solidus, was issued for nearly 1000 years and maintained a remarkably consistent weight and gold purity. Excellent quality Byzantine gold coins can be acquired today, beginning at around $350, providing an inexpensive introduction to this fascinating period of history.
The Biblical World
The Persian period(c.400-333 B.C.) has provided us with ancient Judean coinage.
The Roman period included important silver coins during the two Jewish revolts against Rome.
The Roman period included important silver coins during the two Jewish revolts against Rome.
Many other cities and kings mentioned in the Bible appear on coins. It is possible to own coins which circulated at the time of Christ and the Apostles for a surprisingly small amount of money.