Why I collect the 12 Caesars

I started collecting ancient coins in April of 2015. Before I bought my first coin, I read about the historical eras as well as about the coins struck during these time periods. I found that I became very interested in the 1st century CE. I find that it is a fascinating time in history and can be regarded as a golden era of Roman history. Hadrian’s secretary, Suetonius wrote the Lives of the Caesars, a rather salacious account of the behavior of Julius Caesar and the first 11 rulers of imperial Rome. The chaotic transition from republic to empire including a civil war is exemplified by the career of Julius Caesar. Octavian, later Augustus and the first Roman emperor in many ways set the standard for many emperors to follow. There were numerous types of coins minted during the time of the 12 Caesars, so there is much variety for coin collectors. Coins were struck in copper, bronze, silver, and gold during this period. The number of coins struck were affected by factors such as monetary policy and monetary needs of the empire at the time. In terms of difficulty of acquisition, a set of the 12 Caesars in gold is the most difficult and of course the most expensive to assemble. Silver would be the next most difficult set to acquire. Regarding a set in bronze, Otho (69 CE) did not mint any imperial coins in bronze, so an imperial set in bronze of the 12 Caesars is not possible. However, if one allows provincial coins to be included, there are provincial coins available of Otho. There are other challenges as well when collecting a set in bronze. In fact there are many challenges regardless of the type of metal you collect. Some silver coins are quite rare and or highly sought after and these factors lead to high prices. A set of aurei would be beautiful but one would have to make sacrifices if one wanted lifetime portraits of emperors on the coins. For example, there are no lifetime aurei of Julius Caesar that show his portrait. Challenges can include deciding what metal to collect, whether to limit yourself to lifetime portraits or imperial issues, and budgetary concerns. So collecting a set of the 12 Caesars is not only interesting because of the men and the times represented, it is also a challenging undertaking during which only you can decide the ultimate direction of the pursuit.


One of the reasons this period of history is so interesting is that it marks the transition between republic to empire. During this period lived some of the most interesting people of history, and you can have coins of these figures in your collection. The imperatorial period of Rome which comes right before the 12 Caesars is full of fascinating figures like Sulla the dictator, Cato the Younger, Marc Antony, Cleopatra, and 2 of the assassins of Julius Caesar, Brutus and Cassius. I think it would surprise many people to know they could own a coin of one of these famous figures for very reasonable prices. Of course issues like rarity and condition will affect the price paid, but these coins are available to collectors. Now, most people who collect ancient roman coins want a coin of Julius Caesar. A non- portrait coin of his can be had for as little as a few hundred dollars which is not much considering the impact of the figure represented by the coin. Of course, if you want a portrait coin of Julius Caesar, you should be prepared to pay very much more. The desirability of having a portrait coin of Julius Caesar drives up the price considerably.


The next one hundred years after the ascension of Octavian to Augustus and emperor involve triumphs, victories, setbacks, a civil war, a year of four Caesars, and a period of prosperity and stability under the Flavian dynasty. Many of the coins of this period tell the stories associated with the time periods. Coins were also used to communicate news and propaganda to a largely illiterate public across a massive empire. It is precisely the connection between historical events and the historical figures who influence them that led me to collect the 12 Caesars. I also wanted a challenge so I decided to start a collection in imperial silver. I definitely could not afford the 12 aurei, and I was fascinated by how much information could be transmitted by dime-sized denarii so silver it was. For the rest of this essay I will focus on the coinage of these twelve rulers and will try to describe why their coinage is both interesting in terms of the times in which they ruled, and why it can be challenging to collect.


Coins of Julius Caesar are plentiful which I lucky for collectors who would like one or more of these coins. A mentioned above the portrait denarii of Julius Caesar are expensive. Popularity is one reason, but another is the fact that many of the portrait coins of Julius Caesar were minted moths or even weeks before he was assassinated. Brutus, one of the chief assassins, believed that Julius Caesar was declaring himself king by putting his own portrait on his coins. As a result these portrait coins are sometimes referred to as the coins that killed Caesar. This association is just one reason why these coins are sought after and expensive.


A posthumous portrait of Julius Caesar




Divus Julius Caesar Denarius. 40 BC. Q Voconius Vitulus, quaestor. (20.39 mm, 3.36 g)

Obv:Laureate head right

Rev: Q•VOCONIVS above, S-C to sides, VITVLVS•Q / DESIG below, bull-calf advancing left.

Crawford 526/4, Sydenham 1133. SRCV I (2000) 1428, RSC 45

Ex: Frank Robinson.

Purchased from Frank Robinson Coins Auction September 15, 2015.





Non-portrait coins of Julius Caesar can also be fascinating to collect. They commemorate victories and declare Caesar’s position. For example, one coin I find very interesting is the famous elephant denarius. On the obverse is an elephant trampling a device which has been variously described as a dragon, a Carnyx, or a dragon. The precise meaning has been lost to history but some numismatics and historians speculate that the elephant is a reference to Pompey, the foe of Julius Caesar at the time of minting (about 49 BCE). The reverse is less ambiguous, it depicts the priestly implements which signify the position of Julius Caesar as chief priest.



Iulius Caesar. Denarius mint moving with Caesar 49-48., AR (18.66 mm., 3.85g).

Obv: Pontifical emblems: culullus, aspergillum, axe and apex.

Rev: Elephant r., trampling dragon; in exergue, CAESAR.

Babelon Julia 9. C 9. Sydenham 1006. Sear Imperators 9. RBW 1557. Crawford 443/1.

SRCV I (2000) 1399, RSC 49

Ex: E.E. Clain Stefanelli, Ex: Naville Numismatics Auction #25 Lot 378 September 25,

2016.



Silver coins of Augustus, the first true ruler of the empire are as a group not scarce. There are hundreds of varieties and many of these are quite available to collectors. There are also many varieties that can be quite scarce to very rare. However, it is important to remember that Augustus was quite popular when he rules. Many people at the time would have collected coins with his portrait. These coins are still very collectible today. One fascinating denarius depicts Augustus on the obverse and a Capricorn on the reverse. In my opinion these obverses of Augustus with no legend (anepigraphic) are some of most beautiful coins of Augustus. The Capricorn was associated with Augustus or the majority of his rule and in fact this coin is not the only coin that depicts the association between Augustus and the sign of Capricorn. The heirs of Augustus died before he did, and so he was left to choose a successor.


Augustus (27 BC-AD 14), Denarius, Uncertain Spanish mint (Colonia Patricia?), 17-16 BC, (19 mm 3.73 g).

Obv: Bare head right

Rev: Augustus, Capricorn right, holding globe attached to rudder between front hooves; cornucopia above its back.

RIC I 126; RSC 21 SRCV (2000) 1592.

Purchased October 28, 2016 from vcoins store London Coin Galleries Ltd.




The successor to Augustus was Tiberius. Intrigue and terror marked this reign. Regarding his denarii there were only 3 types. Among these only 2 types are regularly seen. There is a denarius minted with portraits of both Tiberius on the obverse and Augustus as Divus on the reverse. Of the other 2 the famous tribute penny is by far the most common Tiberius denarius. This denarius is often thought to have connections to the bible and so it is very popular with collectors. The type I bought has a portrait of Tiberius on the obverse and a quadriga on the reverse. There are also at least 2 varieties of this reverse. The way to tell them apart is to look at the horses. On some denarii all the horses are looking forward. On some, 2 of the 4 horses are looking back, and on at least one example all four horses are looking back. Personally I find this coin type far more interesting that the tribute penny type. The quadriga type hearkens back to a reverse on a coin of Augustus. On this reverse Tiberius is depicted as Caesar or inheritor of the empire and is driving the quadriga. On the coin of Tiberius, Tiberius is driving the quadriga, but the legend in the exergue is different.


Tiberius, 14-37 Denarius Lugdunum circa 15-16, AR (18.55 mm., 3.85 g).

Obv: TI CAESAR DIVI - AVG F AVGVSTVS Laureate head r.

Rev: TR POT XVII IMP VII Tiberius holding branch and eagle-tipped scepter in triumphal quadriga r.

RIC 4. C 48. SRCV I (2000) 1762

Ex: Naville Numismatics Auction #25 Lot #407 September 25, 2016



Tiberius murdered several members of the family of Gaius. Gaius (commonly known as Caligula) was trained by Tiberius. Tiberius lived many years on the island of Capri and Gaius lived with him for years learning how to rule the empire. There are many theories as to how Gaius became the monster we read about in history books. One theory was that he recovered from an illness the nearly killed him, and the course of this illness changed his personality. Given that Gaius only ruled for 4 years, it is surprising just how many of his coins are available. Notice I said coins, but not coin types. One type in particular- the Vesta reverse, is very common indeed. However, this is a bronze coin. For some unknown reason, his denarii are much much scarcer. Why this should be is a matter of intense debate among numismatists. One theory relates to Gresham’s law. This states that bad money drives out the good money. People will spend the bad money but hoard the good money. The good money becomes much scarcer as a result. In 64 AD Nero debased the silver coinage both in terms of purity and weight. The theory says that the result of this debasement was that the good silver of the denarii of Gaius and Claudius were hoarded and taken out of circulation. However, this theory does not account for the fact that denarii of Tiberius, which were also high-quality silver are very plentiful.




Caligula and Agrippina AR Denarius, aF, toned, bumps and marks,

(17.84mm, 2.680g) 180o

Lugdunum (Lyon, France) mint, end of 37 - early 38 A.D.;

Obv: C CAESAR AVG GERM P M TR POT (counterclockwise), laureate head of Gaius right;

Rev: AGRIPPINA MAT C CAES AVG GERM (counterclockwise), draped bust of Agrippina Senior (his mother), her hair in a queue behind, one curly lock falls loose on the side of her neck,

RIC I 14 (R) (Rome), RSC II 2; BMCRE I 15 (Rome), BnF II 24, Hunter I 7 (Rome), SRCV I (2000) 1825 RSC 2

Ex: the Jyrki Muona Collection, Ex: Forvm Ancient Coins.




Claudius was a survivor of the purge after the murder of Gaius. Because he had some type of physical deformity he was not seen as a serious threat. Claudius had a rather stable rule which included one major accomplishment, the successful invasion of Britain in 43 CE. As with Gaius the base coinage of Claudius is quite plentiful. The denarii are quite scarce and desirable and so they fetch very high prices in the market. The denarii of Claudius are interesting. They celebrate family members, include coins of Nero as Caesar and successor to Claudius, and commemorate his victory over Britain.


Claudius AR Denarius. 41-54 AD. Rome mint Struck 46-47 AD.

(17.28 mm 3.62 gr).

Obv: TI CLAVD CAESAR AVG P M TR P VI IMP XI, laureate head right

Rev: CONSTANTIAE AVGVSTI, Constantia seated left of curule chair, hand raised to face. RIC 32 (R2), RSC 8 BMC 31. SRCV I (2000) 1842

Ex: AU Capital Management LLC


Claudius, with Nero as Caesar. 41-54 AD. AR Denarius. Struck 50-54 AD.

(17.68 mm, 2.78 g, 6h)

Obv: TI CLAVD CAESAR AVG GERM P M TRIB POT P P Laureate head of Claudius right

Rev: NERO CLAVD CAES DRVSVS GERM PRINC IVVENT Draped bust of Nero Left

RIC I 83 (R2) ; RSC 5. SRCV I (2000) 1890 RSC 5

Ex: CNG e-auctions 356, Lot: 469. Closing Jul 29, 2015

Ex: Holding History Coins Agora Auctions Lot 07-158 April 21, 2016



Alas the stability was not to last. Nero who became ruler after the suspicious death of Claudius, destabilized not only the monetary system, but the empire as a whole. His self-aggrandisement

And reckless spending eventually plunged the empire into a civil war. While he probably did not play the lyre as the city burned, his real atrocities were bad enough. Nero is attractive to coin collectors. He had an interesting reign and a larger than life personality. Luckily, his base coinage is readily available to collectors. His denarii can be divided into 2 groups: pre-reform and post-reform. While all denarii of Nero are sought after, the pre-reform denarii are much more scarce and so are very attractive to some collectors. Note that pre-reform denarii are considered scarce for the same reason as denarii of Gaius and Claudius-Gresham’s law.


Pre-reform denarius


Nero. A.D. 61. AR denarius

(18.40 mm, 3.37 g, 7 h).

Lugdunum (Lyon) mint.

Obv: NERO CAESAR AVG IMP, bare head right

Rev: PONTIF MAX TR P VIII COS IIII P P, EX S C across field, Roma standing right, holding and inscribing shield supported on knee, foot on helmet; dagger and bow at feet to right.

RIC 34 (R3); RSC 231. aVF, toned. Rare. From the D. Thomas Collection;

Ex Hohn Leipziger Munzhandlung. Auction 85 June 2-4 2016 Lot 1832

Ex: Agora Auctons sale 68 Lot 195 August 15 2017.



Post-reform denarius

Nero. AD 54-68. AR Denarius Rome mint. Struck AD 68.

(17.68 mm, 3.37 g)

Obv: IMP NERO CAESAR AVG P P, Laureate head right

Rev: Legionary eagle between two standards.

RIC I 68 (R2); RSC 356. SRCV (2000) 1947

Ex: CNG e-auction 370 lot 391 March 9, 2016.



After the suicide of Nero in 68 CE, there was a power vacuum and a rush to see who would fill it. Along came Galba, known as a governor in Spain. In fact, many coins of Galba refer to Spain. Galba was known as the first in the year of the four emperors, a time of much disruption in the empire. One interesting thing about his coins concerns the variety in the portraiture. It is surmised that when Galba took the purple so to speak the chelators engraving the dies for the coins may not have immediately known what he looked like. Therefore, there is inconsistency in the portraits of Galba. He only ruled for several months so some of his coins are scarce but many types were minted over this short period of time. What I find most interesting about the coins are the reverses. They include depictions of real people such as Livia, revered wife of Augustus, and depictions of attributes such as Virtue. Coins of Galba are generally available to collectors, but some types are very scarce indeed.



Galba AR denarius, VF, Rome mint, ( 3.512g, 19.0mm, 180o), Nov 68 - Jan 69 A.D.;

elegant style, light toning on nice surfaces, high-points flatly struck,

Obv: IMP SER GALBACAESAR AVG, laureate head right;

Rev: HISPANIA (counterclockwise starting on left), Hispania advancing left, draped, poppy and two stalks of grain in extended right hand, round shield and two transverse spears in left hand;

RIC I 193 (R2), BMCRE I 16, RSC II 83, BnF III 89, Hunter I 1 var. (no CAESAR, Aug - Oct 68), SRCV I (2000) 2103 var. (same)

Ex: the Jyrki Muona Collection; Ex: Forum Ancient Coins

Purchased from Forum Ancient Coins August 30, 2016

Coin depicted in the Wildwinds.com database.

(Continued in next post)

 

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GALBA, A.D. 68-69. AR Denarius

(3.38 gms),

Rome Mint, ca. A.D. July 68-January 69..

Obv: "IMP SER GALBA CAESAR AVG PM" Laureate bust of Galba facing right;

Rev:: Virtus standing facing, holding parazonium upwards and leaning on vertical spear.
NGC Ch F, Strike: 5/5 Surface: 4/5.
RIC-236

Provenance: From the Graywood Collection.

Stack’s Bowers Galleries Auction August 8 2017 Lot 24114

Coin depicted in the Wildwinds.com database.





Galba promised to elevate Otho to Augustus but instead chose someone else. This angered Otho who caught up with Galba and had him murdered. Around the same time Vitellius was also declared emperor. Otho ruled for three months before committing suicide instead of prolonging the war with Vitellius. Otho is for many 12 Caesars collectors, the last one they acquire. As mentioned earlier, Otho minted no imperial base coinage. Collectors have the choice of adding a provincial issue or choosing between the silver and gold imperial issues. One surprising fact about his denarii is just how many are available. They are sought after and expensive, but they are surprisingly available given his short reign. Of course this only applies to some types of his denarii. Other types are only known from a handful of examples.


Otho AR Denarius. Rome Mint. ( 17.89 mm, 3.08 g)

Obv: IMP M OTHO CAESAR AVG TR P, bewigged head right

Rev: SECVRITAS P R, Securitas standing left, holding wreath & scepter.

RIC I, 8 (R2), RSC 17. SRCV I (2000) 2162




After the suicide of Otho, Vitellus took over sole rule of the empire. He also only ruled for a few months. He was unpopular among the people. He apparently was a glutton and a generally excessive person. His coins are readily available though there are some very scarce types. This is true for both the base and precious metal coinage. Among the denarii there are several reverse types that occur quite frequently while one might go years without seeing other scarcer types. Still, there is some interesting variation in reverse types though definitely not to the extent of the following emperors.


Vitellius Denarius. 69 AD (19.61 mm, 3.09 g)

Obv: A VITELLIVS GERM IMP AVG TR P, laureate head right

Rev: PONT MAXIM, Vesta seated right, holding sceptre and patera.

RIC 107 (S), RSC 72, BMC 34. SRCV I (2000) 2200

Ex: Frank Robinson.

Paid: 151.00 USD


Vespasian was declared emperor by his soldiers and Vitellus was murdered in the street ignominiously. Vespasian was the first of the three Flavian emperors which included the sons of Vespasian Domitian and Titus. The coinage of Vespasian was very extensive. Because he ruled for 10 years there is much variety in his coinage. He was responsible for the sacking of Jerusalem. He paid for the colosseum from the proceeds of the looting of Judea. You can still see scenes of the looting on the arch of Titus in Rome. I find the reverse types on Vespasian’s denarii very interesting. They include depictions of a subjugated Judean people, depictions of war trophies, references to his children and to peace among many others. If you are collecting the 12 Caesars in silver, the good news is that there are many denarii available. While it is true that some are very scarce, there are always interesting examples available to choose amongst.



Vespasian, 69-79 A.D. AR Denarius, 3.16g. 21.41mm. Rome, 73 A.D.

Obv: IMP CAES VESP AVG CENS. Laureate head of Vespasian to right.

Rev: MAXIM PONTIF. Nemesis walking to right holding caduceus over snake.

C 385, RIC 544. SRCV I (2000) 2304

Ex: E. E. Clain-Stefanelli collection. Ex: Numismatica Ars Classica - Auction 92 Part 2, Lot 2133 May 24, 2016 275 CHF ; Ex: Ed waddell September 7, 2016

Coin depicted in the Wildwinds.com database.




Roman Empire, Vespasian 69-79, Denarius,

(17.49 mm 3.24g)

Obv: Laureate head of Vespasian right "IMP CAESAR VESPAS AVG COS II TRPPP" Rev: "AVG" within an wreath, Phi-Alpha monogram above ties. "AVG" in the center. RIC 1414. Ephesos mint, Some roughness on the reverse.

Ex Savoca Auction #9, lot 533 8/21/16, realized 350 Euro + buyer's fee

Lot 152 Aegean Nuismatics Agora Auctions July 20. 2017.

Coin depicted in the Wildwinds.com database


Titus only ruled for 2 years. Like his father he was credited for victory in Judea, and this appears on his coins. He completed the building of the colosseum and in general was considered a good and popular ruler. Many of his coins continued the themes from his father’s coinage. However, there are some interesting denarii which are unique to Titus. His coins are in general not as easy to find as those of Vespasian or those of Titus’ brother Domitian.


Titus. AR Denarius as Caesar, AD 69-79. Rome, under Vespasian, Struck AD 77/8.

(19.04 mm, 3.25 g),

Obv: T CAESAR IMP VESPASIANVS, laureate head of Titus right.

Rev: COS VI, prow of galley right, sides ornameted with intricate cross-hatch and maeander patterns; above, star with sixteen rays. RIC 950 (R); BN 202; BMC 226; RSC 68. SRCV I (2000) 2441

Ex: Incitatus Coins

Paid 205.00 USD

Purchased February 22, 2016 from Incitatus coins

Coin depicted in the Wildwinds.com database.



Domitian was not as popular as Titus. He carried on some of the same reverse themes as Titus. However, he was also responsible for many reverse types that differed from those of his brother. In my opinion Domitian’s coins will be known for the ubiquitous Minerva reverses. Though there are several types of Minerva reverse, and some examples are very scarce, I personally like the reverses without Minerva.


Domitian. AR denarius (18.15 mm, 3.36 g, 7 h). Rome mint, struck A.D. 81.

Obv: IMP CAESAR DOMITIANVS AVG, laureate head right

Rev: TR P COS VII, draped throne, back decorated with grain ears. RIC 3; BMCRE 2; RSC 554a.

Ex: William Rosenblum Coins Ex:Agora Auctions March 22, 2016 lot 52-174

Purchased from Agora Auctions March 22, 2016.



Domitian was the last ruler in the Lives of the Caesars by Suetonius. I hope you will agree that no matter how arbitrary the selection of rulers might have been by Suetonius, this period was anything but dull. Instead I hope you will agree that it is a fascinating period of time to investigate. One of the best ways to investigate this period of time is by collecting and researching the coins issued by these rulers. I want to emphasize one more point. There is no correct nor incorrect way to collect the 12 Caesars. You can collect them in different denominations and metals, you can collect imperial or provincial issues, and you can collect common or scarce type. There is much variety and interest to be had in this pursuit. If you decide to collect this group of rulers I wish you both fun and luck in tracking down coinage of some of the most interesting rulers that ever lived. Pursuing a 12 Caesars set is challenging, interesting, and a great way to feed one’s appetite for history.

 

Some beautiful coins there Orfew, that's one great twelve Caesar collection. And also great history write up, well done.

 

Incredible write up @Orfew !

 

Terrific write-up with so many wonderful coins!! Congrats on your accomplishment

I love them all but I think the JC, Tiberius and several Flavians keep screaming at me that they want a new home....or perhaps they just like snow and heard there's a blizzard heading my way this AM

 

Congrats on the nice set of 12 Caesars in silver @Orfew . My favorite coin is your Vespasian with the AVG reverse, though your Domitian is also a great coin.

Your write up made for a great read too. Any time someone includes Gresham's Law in a post it makes me one happy economist.

I have only one coin from the 12 Caesars, a coin of Vespasian that was a gift from my wife a few years ago.

Vespasian AR Denarius 72 - early 73 AD, Rome mint, 3.299g, 18.0mm.
Obv: IMP CAESVESPAVG P MCOS IIII, laureate head right.
Rev: implements of the augurate and pontificate: simpulum, aspergillum, ewer, and lituus, AVGVR above, TRI POT below.
RIC II, part 1, 356

 

I'll post my orfew aquired Tiberius denarius again!

 

Nice coins in your 12 Caesars set @Orfew

 

Such a beautiful set!! Am I right to guess that you will be targeting a Titus as Augustus in 2018?

 

Now, that is the perfect blend of history and numismatics, both helping the other come alive. A very nice write-up Andrew.

 

Very nice presentation Andrew! Your passion for this wonderful Roman Imperial coin series comes shining through! My favorite coin that you illustrate is the Tiberius Denarius - a rare issue in exceptionally nice condition.

 

Titus AR Denarius

Judea Capta Issue

(18 mm 3.12 g,)

Obv: IMP T CEASAR VESPASIANUS AUG Laureate head right

Rev: TR POT VIII Captive knelling right at foot of trophy

RIC 1, RSC 334a, Sear RCV (2000) 2505.

Purchased from MA Shops INGEMAR WALLIN UTVECKLING AB

April 20, 2017

 

To acquire a complete set of 12 Caesars in silver in such a short period of time is an incredible achievement! Congrats Andrew!

 

My hat is off to you, Andrew. Your enthusiasm for the subject moved me in this past year to get off my lassitude and finish the silver set I started long years ago. Your determination to stay with it is at least as noble as the coins themselves.

 

Thanks, I enjoyed that Twelve Caesars tour... I think you had just the right mix of historical and numismatic with each bio.

I didn't originally think to make a set, but once I had about half of the twelve, it was a matter of keeping a look out for the rest. I have to say I'm glad to have completed it . All Imperial, but I like that it's a mix of metals and denominations. Perhaps someday I'll be able to add an aureus to the tray.

 

Wow!! It's way past my bedtime but I had to stay up to finish reading your wonderful post. Excellent history lessons and terrific coins! Congrats on a job well done.

 

Very nice set zumbly.

 

LOL! a very nice one, too!!

 

Great post and excellent coins!

 

A very nice write up and collection!

I am still working on finishing my set. I have a mix of bronze and silver and doubt i will ever get all silver.