Why is it that ancient coins seem to be less expensive than modern ones, or on par in other cases? Shouldn't they be worth more because of their age and provenance? Were there more minted back then? Or is it because of their composition?
Hello, As stated by hamman88 there are lots and lots of ancient. Also, for one ancient coins collector there must be at least one hundred of modern. It's a question of supply and demand. Cucumbor
Also, the definition of a variety is different. For example, type 1 and type 2 buffalo nickels. If they were ancients, odds are people would only collect "Buffalo nickel, 1913-1938" You may have a R5 coin (highest rating from the Roman Imperial Coinage book), but if its based on a legend break it won't be NEARLY as valuable as if its based on a completely different design. Hope that all made sense, lol.
It may be because not many people are looking for ancient coins. There is a HUGE demand, i think, for US coins, especially here in America where we can associate with the history of our country.
Number of collectors is certainly a huge factor. Take a look at Newfoundland coins for a perfect example. (I'm using these rather than ancients because we have exact numbers for them). The 1946 C Newfoundland dime had a mintage of 38,400. The 1909-S VDB cent had mintage of 484,000. Which one is rarer? The US one, obviously, because EVERYONE has to have an 09 S VDB!
It's mostly because of mintage numbers as Ardatirion pointed out. No one knows how many ancient coins were struck. One coin may be extermely valuable today and the next day a huge hoard could be discovered. I enjoy collecting ancients, but only because of the history. If I was in the hobby for velue, then I would probably specialize in a single country with known mintage quantities.
You're assuming that the hoard would just be released onto the publc. When was the last time you got unsearched coins straight from Turkey or the Balkans? Exactly. The hoard would most likely first pass through the hands of a number of very experienced dealers, who would control its release and hide the number available, likely for many years.
If there is a coin with only 3 pieces known, and suddenly 19 coins pop up, I can bet you that no one will pay the same for them now there are 22 around.
Ah, but the point is, if theres only three known, maybe only one or two would be sold publicly, with the rest being sold privately, with no one the wiser.
I think you all make a very good case for the lower prices attached to ancients. Supply and demand...certainly. A load of similar coins hitting the market (i.e. less of a rarity) is, I think, is the main reason. Millions of Constantine bronze hitting the open market is like to bring a huge price, except to the ignorant masses, who think age equals value.
