How often do Caligula denarii come along, and for how much?

I just finished reading Suetonius' Twelve Caesars and am considering putting together a set in silver. Before I commit to that undertaking though, I have concerns about acquiring a few of the coins, most notably the Caligula denarius. I didn't realize quite how scarce the coins are - a quick scan of VCoins, CNG, Forum Ancient Coins, and even eBay shows no non-fourrée (or, in the case of eBay, no non-counterfeit) examples. How often do these coins come along, and how much should I expect to pay for an average example?

Out of curiosity, does anybody know why there were so few denarii produced under Caligula? My assumption is it was related to the financial crisis during his reign.

 

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They're pretty dang rare and usually start at a $1000 or more. That's why so many of us tend to buy his bronzes. More plentiful & cheaper.

As to why there isn't many. It's mostly due to Nero taking all the good silver coins prior to his reign, melting them, and releasing less fine silver under his reign. Claudius is also rare to get denarii of but a bit easier then Caligula.

 

There are at least twelve Caligula denarii listed in auctions which close in the next month or two.

You may not find one in every auction, but they aren't that rare. They're pricey because so many people collect "Twelve Caesars" sets and compared to most of the twelve, his coins are less common.

 

Quoting from Roman Imperial Coinage (RIC) Volume I, revised:

"The volume of Gaius' [Caligula] coinage was perhaps not abundant. Only dubious attention can be given to the report that Gaius' coinage was somehow demonetized after his death: its size would have made this, economically, almost impossible, and such an action would have conflicted sharply with Roman practice: Antony's 'legionary' denarii continued to circulate for two centuries. There may, of course, have been some symbolic damnatio of Gaius' coins -- a ceremony affecting no more than a few chosen examples."

So in general, Caligula's coins are scarce probably due to low mintage.

You can search for these denarii using www.acsearch.info -- a quick search of the phrase "caligula denarius" showed 544 examples, so they're available but generally pricey in about VF or better condition.

 

The two most expensive silver coins for me was Caligula and Claudius.


Since I took this image, I have replaced the Tiberius with:


and the Titus:

 

Caligula and Claudius were the toughest coins in the set for me with the Caligula being the most expensive.

Putting together the set is a lot of fun. I really enjoyed the process. It meant hours of looking at different coins, bidding in many auctions, and pouncing on a coin when found.

There are many ways to put this set together. You can choose all silver which is tough but not impossible. You can also substitute bronze for the tougher coins while begin on the lookout for their silver counterparts. For example an As of Caligula or Claudius, and maybe a provincial for Otho

For myself, I highly doubt I will ever be finished with the set (where is the fun in that). Instead, I have been slowly upgrading the coins one at a time, trying to get the most interesting set I can get. You might want to choose the most popular coins such as a Iudea Capta for the Vespasian, Minerva for Domitian, an elephant denarius for Julius Caesar or a tribute penny for the Tiberius. For me, I tried to find coins with scarcer and in my mind more interesting reverses and I definitely wanted a portrait coin of Julius Ceasar.

There is no right way to do this. Find your own path and by all means have fun.

 

Maybe less common but also maybe just higher in demand. More people can name Caligula as a bad guy emperor and want a coin of his so prices will be higher than they would be were he not a bit infamous. Claudius is probably about as scarce but gets demand from people who remember the TV show I, Claudius. Rarity makes little difference compared to demand and Caligula is a high demand name compared to his relatively few coins for sale. There is another little factor that might play into the matter. Nero debased the silver coinage after a short while in power. This made earlier coins more likely to be melted down. The extremely common coins of Tiberius could afford to lose a few hundred thousand to the crucible and still be common but I suspect more Caligula, Claudius and early period Nero denarii were lost this way since they were more recently in circulation and not as common to start with. I have no particular interest in having a set of 12 Caesar denarii but I would like to have about half a dozen Caligula denarii which I consider more interesting than some others Demand from people like me as well as people who want any of the 12 will add up to making the coin less likely to go cheap.

A point: If I wanted to sell a genuine Caligula denarius, I would not sell it at a flea market or on eBay but would consign it to a big sale where people with money shop. To do otherwise might be foolish. If you want to buy a genuine Caligula denarius, I suggest you shop where people who own them are likely to sell them.

 

Which explains why there are nine listed in the upcoming auctions on sixbid.com, and none apparently available from VCoins dealers.

 

Just one more reason to avoid collecting "The 12 Caesars"

... I like to shop where I have a slim chance of getting a sweet deal

 

I'd like to have a Caligula denarius, but I'm not sure I want to compete with so many others who are likely more determined to get one.

 

Might have to fight with Clio if you did

 

Heh, doubtful. If I were to chase one, it would be more of an "entry level" Caligula . He does seem to buy coins of all grades and conditions when it comes to rare Provincials, but I don't recall seeing him do the same with Imperials.

 

Also, occasionally e-auctions such as CNG's will have Caligula denarii, although usually not of the same quality and condition as published auctions.

You can research these coins by going to CNG's website and clicking the RESEARCH button near the top of the screen. This can be very helpful in providing information and insight into the price range of these coins, and help you set a budget or even consider whether an AE of Caligula is more appropriate for your needs.

 

Good idea ...

=> Here is a CNG search for Gaius Caligula Denarii (all price-ranges included)

https://cngcoins.com/Search.aspx?IS_ADVANCED=1&ITEM_IS_SOLD=1&ITEM_INVENTORY_NUMBER=&CONTAINER_NAME=&ITEM_LOT_NUMBER=&ITEM_DESC=Gaius Caligula denarius&SEARCH_IN_CONTAINER_TYPE_ID_1=1&SEARCH_IN_CONTAINER_TYPE_ID_3=1&SEARCH_IN_CONTAINER_TYPE_ID_2=1&VIEW_TYPE=0

... sadly, even the cheap-ones are hundreds o' bucks (I agree with IOM that you may want to hunt for a sweet AE example instead)

 

There's a very entertaining article in the April 2004 issue of The Celator magazine about one collector's quest for the 12 Caesars, titled "Twelve Caesars, Nine Years and 856 Dollars" by Robert Boston. It's a fun and interesting read:

https://community.vcoins.com/wp-content/uploads/thecelator/18-4/index.html

 

There are many reasonably priced coins of Caligula. They just are not denarii. We each must ask where we want to spend our budgets. One of our regular posters here has expressed the opinion that the common Caligula Vesta as is boring. I may never have a denarius and I can live with my boredom.
Worn


not so worn


Like Caesar, your Caligula will not necessarily have a portrait. Below is a sestertius and a quadrans. I do not have a provincial but they are not rare.

 

A favorite type of Caligula type is mine below. A bit common and usually found in decent shape and reasonable price.


Caligula (37 - 41 A.D.)
AE30 AS
SEGOBRIGA, SPAIN
O: C CAESAR AVG GERMANICVS IMP, laureate head left.
R: SEGO BRIGA in wreath.
Segobriga Mint
30.5mm
10.1g
Burgos 1724

 

Ummm, just because Doug already did it ...



=> good ol' Scratchy As

 

Some very nice silver coins Bing, I can see why Caligula was expensive, outstanding coin.

 

Thanks @IdesOfMarch01 for the link. This was a great read and covers many of the reasons I put together the 12 Caesars.