A Beginner’s Guide to Ancient Rare Coins

One of the truisms about coin collecting is that it’s not just about the rarity of a coin, but the history of the coin, too. Owning a rare coin is owning history itself — and that is never truer than when you set out to own ancient rare coins.

Now, you may wonder what defines a coin as “ancient.” Obviously, it must be old, but exactly how old?

There’s no hard-and-fast rule, but most ancient coins were minted prior to around 500 AD. Most ancient coin trading centers on the coinage of the Greek, Roman, Persian, and Hellenistic (including Ptolemaic Egyptian) empires, though there are markets for coins from other Mediterranean and early Asian civilizations as well.

It’s even possible to classify coins from later civilizations as ancient. For instance, Byzantine coinage extended into the 15th century, yet it’s often grouped with ancient coins because of the Byzantine Empire’s direct connection to Rome.

This page is your guide to beginning an ancient coin collection. We’ll highlight several of the most famous minting civilizations, describe what these coins typically look like, and explain how they are valued.

What Ancient Rare Coins Are the Most Prized by Collectors?

Every collector is different. Each has unique preferences and historical interests. Still, a few coins consistently appear on lists of the most desirable ancient pieces.

Some of the universally admired examples include:

• The Lydian Lion – One of the world’s first major coins, minted around 650–600 BC by the Lydian civilization in modern-day Türkiye. These coins were struck from a naturally occurring gold-silver alloy called electrum, making them both beautiful and historically significant.
• The Brutus “EID MAR” Denarius/Aureus – Perhaps the most famous Roman coin, commemorating the assassination of Julius Caesar on the Ides of March. Minted around 42 BC, about two years after the event, the coin depicts Brutus and two daggers symbolizing the deed. The gold aureus version is among the rarest and most valuable coins in existence.
• The Athens Dekadrachm – This large silver coin is one of the most celebrated issues of ancient Greece, believed to have been produced around 470–460 BC. Some evidence suggests it may have been awarded as a bonus to soldiers returning from the Persian Wars. Its impressive diameter, striking Athenian design, and rarity — with fewer than 40 examples known — make it a classic among collectors.
• The Stater of Panticapaeum – A 4th-century BC gold coin from the Bosporan Kingdom in what is now Crimea. It features the god Pan on the obverse and a winged griffin on the reverse, showcasing exceptional artistry and detail. One of these coins sold for roughly $6 million USD at Sotheby’s in 2023.
• The Arwad Shekel – A Phoenician silver coin minted on the island of Arados (now Arwad, Syria) between roughly 450 and 333 BC. It provides a glimpse into the seafaring Phoenician civilization and often features a deity interpreted as Ba’al or Melqart, accompanied by dolphins and a hippocamp — a mythological sea creature.

What Designs Appear on These Coins?

Designs vary widely across civilizations and eras, much as modern coinage does. Still, several recurring themes appear across ancient minting traditions:

• Royalty and rulers
• Deities and mythological figures
• National or military events
• Cultural or religious symbols
• Real or legendary animals

These motifs serve as miniature historical records — offering insight into the beliefs, achievements, and artistry of the cultures that issued them. As with the Arwad Shekel, a coin’s imagery can encapsulate an entire civilization’s identity.

How Rare Are They?

Because ancient coinage spans so many civilizations and centuries, rarity levels vary tremendously. Some late Roman coins, for example, survive in the millions and can be acquired quite affordably.

Others, like the EID MAR Aureus or the Panticapaeum Stater, have fewer than 10 known specimens worldwide.

In general, rarity drives value. Unless a coin carries exceptional historical significance or artistry, a rarer piece will nearly always command a higher price.

What Are the Values of These Coins?

Values range as widely as the coins themselves. Many late Roman bronze coins from the 4th and 5th centuries AD sell for under $20, while more attractive or well-preserved examples might fetch higher prices.

At the opposite extreme, the rarest coins can reach staggering sums at auction. A Panticapaeum Stater realized about $6 million USD in 2023, and a gold EID MAR Aureus sold for roughly $4.1 million USD in 2020.

Ultimately, the sky is the limit for ancient rare coins — but that shouldn’t discourage beginners. There are fascinating, affordable entry points for collectors at every level.

Getting Started

Collecting ancient rare coins can be both intellectually rewarding and financially exciting. As with any collectible, it’s crucial to buy from reputable dealers and verify authenticity, since ancient coin forgeries do exist.

We’re happy to help you begin your journey into ancient coin collecting. Our inventory often includes a range of ancient coins, though availability can vary.

If you’d like to learn more or discuss your options, give us a call at 1-800-276-6508 (Monday – Friday, 8 a.m. – 6 p.m. CST). You can also email us anytime — our team will be glad to help.