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Gold coins issued by the Eastern Roman Empire are fairly similar to those issued by the Western Empire. After the fall of the Western Roman Empire in 426AD, the Eastern Roman Empire, based at Byzantium in Constantinople (in modern day Turkey), persisted until 1453AD. Image courtesy of Artemis Gallery and LiveAuctioneersīy 260AD, Germanic tribes had gained enough control over the western territory to effectively cut the Roman Empire into two separate states.

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This very thin solidus featuring Emperor Honorius (395AD-423AD), one of the last co-emperors of Western and Eastern Rome, sold for $1,500 plus the buyer’s premium in November 2018. No matter how small the solidus became, the amount of gold per coin never dipped below 24 karats. Emperor Constantine reintroduced the solidus in 312AD, and it became the official gold coin of the empire, with a weight of 4.5 grams. Because relatively few were circulated, collectors still refer to the Diocletian-era coin as an aureus. In 301AD, Emperor Diocletian phased out the aureus in favor of the solidus, which was minted at 5.5 grams of gold per coin. But constant warfare and state projects prompted inflationary pressures, which nudged state authorities to slowly reduce the weight of the aureus from the 8.1 grams of Julius Caesar’s era to 6.5 grams by the time of Emperor Caracalla in 211AD – a fact that matters at auction. The aureus is the most sought-after Roman coin due to its scarcity, its association with the period of the emperors, and the fact that it was minted 24K pure gold throughout the time of its production.

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They were created with the precious metals acquired during the series of Punic Wars that occurred between 264 and 146BC.Ī somewhat worn aureus from the time of Emperor Nero (54-68 BC) showing a reconstruction of the Temple of Vesta on the reverse achieved $3,000 plus the buyer’s premium in June 2020. Image courtesy of Artemis Gallery and LiveAuctioneers Every time a new coin iteration is unearthed, we learn more about Rome and its history.Īt first, Roman coins were primarily of bronze, with some in silver and relatively few in gold. They highlighted the ruling elite, monuments, battles and victories of the far-flung empire. The introduction of national coinage did at least two things for Rome: coins brought economic stability to a prevailing barter system and, more importantly, the little metal discs were excellent amplifiers of politics and popular culture. Rome adopted the coinage system in the late 4th century BC, about 300 years after the Greeks did. It achieved £6,000 (about $7,900) plus the buyer’s premium in December 2016. Securitas, the Roman goddess of security and stability, appears on the reverse of an aureus showing Emperor Probus (276AD-282AD). Then, as now, these coins are worth much more than their melt value. Like artworks, they tell us what ancient Romans deemed important. The coins of Rome are just as much a symbol of the defunct empire’s reach and influence as its stunning frescoes, statues and architectural ruins. It achieved $3.5 million and became the most expensive Roman gold coin ever sold at auction. For example, many news outlets covered the November 2020 sale of a gold coin issued by Marcus Junius Brutus, the assassin of Gaius Julius Caesar. Often, such coins are sent to auction, where there is no shortage of collectors waiting to bid. One Roman gold coin was even found in Okinawa, Japan. Both of these finds attracted widespread interest.įarmers and construction projects have unearthed hordes of Roman coins throughout the former Roman Empire. Two years earlier, a Roman gold coin from the time of Nero was discovered in Jerusalem.

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In 2018, about 300 gold coins from ancient Rome were found buried in a soapstone jar beneath a closed-down movie theater north of Milan. Whenever Roman gold coins turn up in unlikely places, it’s headline news.

The profile of Roman Emperor Caesar Augustus, also known as Octavian, appears on this period gold coin that realized $3,400 plus the buyer’s premium in January 2016. Image courtesy of William J.

Ancient gold coins