Ancient Coin Cons Going Mainstream?

Yes, but it's still a fair question to ask. On the one hand, the value of ancient coins is always based only on what a collector is willing to pay. I'm quite glad that there is no "Red Book" fo ancients. It forces people to think about what they enjoy in a coin rather than about what it's worth according to some catalogue. That's a good thing, I reckon.

On the other hand, here are my reasons for having paid $20 for each of the coins above. Both are in high grade, have good surfaces and full legends, and don't miss major parts of the design. That's my entry requirements for considering to buy common LRBs.

The first coin gets quite a couple of extra points for the expressively brutal portrait and the excellent facial detail on Sol. The flan flaw is a slight minus, but doesn't bother me that much. The coin's color is unremarkable, and the Rome mint is nothing special in my book.

The second coin gets minus points for lack of facial detail on Sol. For me, this is partly outweighed by an attractive two-tone patina and a good London style portrait. What finally made me buy it at $20 is the mint, though. Due to the historical significance of these places for Constantine's career, I'm willing to pay a small premium or accept minor detail flaws in early LRBs from London and Trier. Everybody is free to disagree with that, of course.

If I had to choose only one, I'd probably take the first coin. Yet, who says I can't have two nice Constantines with a Sol reverse? As a matter of fact, I even have three. By chance, the third was also about $20, and I bought it mostly for Constantine's mean crooked nose. Did I overpay for that one? Maybe. Am I unhappy with it? Nope.


Constantine I, Roman Empire, AE3, 313 AD, Rome mint. Obv: IMP CONSTANTINVS P F AVG; bust of Constantine I, laureate, draped, cuirassed, r, Rev: SOLI INVICTO COMITI; Sol, radiate, chlamys draped across r. shoulder, standing l., raising r. hand and holding globe in l. hand. 19.5mm, 3.41g. Ref: RIC VII Rome 2.

 

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That brings us to the bottom line: 'think'. The sale add is not for people who want to think but for those who had no idea that there was something to think about. Most of us would think a little and buy something else for the same money. We are not the target market. For that matter, most of us are not the target market for slabbed coins. We would prefer to buy from trusted sellers or decide for ourselves whether a coin is what we want. I fear that the time will come when all ancients are sold without thought like we see in so many modern coins already. This does not concern people my age but were I fifty years younger, it most certainly would.

 

I have no problem with the price on these coin. If you are going to try to market coins to the masses, you have to charge more. This ad probably costs close to $75,000. Clearly they are just trying to get you in the door. My guess is they sell out pretty quickly. The average person has no idea that ancient coins are even buyable and to be able to get a coin of Constantine I for under $100 is a great deal for most people. I wish more dealers figured out ways to mass market ancient coins. The hobby could use an influx of new collectors. For what it's worth, there are plenty of Sol folles of Constantine on VCoins priced higher than $100.

https://www.vcoins.com/en/Search.as...cords=100&SearchOnSale=False&Unassigned=False

Barry Murphy

 

I've often wondered why the larger firms don't advertise in more popular places-- in the pages of National Geographic, or on the History Channel, etc. Maybe have a targeted one-time add during Pawn Stars or something.

 

I have noticed that some of the high quality Constantines are going for $100-200 on both vcoins and m-a shops. Has there been a recent price uptick with these coins?

 

Actually there is a coin program that plays periodically on the History Channel or Discovery - I can't recall which channel exactly. I think it is probably focused on U.S. and world coins though. I think it is called "Coin Show" or something like that. I have never watched it though.

 

I suspect part of the reason you don't see more ads like this is the "it belongs in a museum" attitude and increasing restrictions on unprovenanced coins. I don't doubt for a minute that the archaeological community would attack a National Geographic type publication for allowing an ad like this.

Does the hobby really need an "influx" of new collectors? Ancient coins are already in demand enough to bring new material into the market, bring old collections back into the market and overall provide a strong enough market for us as collectors. I'm sure it would be great for dealers and for companies like NGC but would increasing demand actually benefit "the hobby" and the collectors who make up the majority of its participants? I doubt it.

 

Things have changed. Magazines are desperate for advertising money. National Geographic has been running ads from Sadigh Gallery for 'antiquities'. He is one of the most prolific and successful of all the sellers of fakes, pre-dating the internet. All his stuff is fake of course, but he advertises it as real.

I think so. I'd hate to see this hobby die off like stamps did. Can you imagine if ancient coins become of so little value people toss them in the trash like pennies? We will always need new blood to the hobby. I think it is probably fine for now with the influx of collectors from the modern and US side.

 

Great ad from Sadigh. 3 of the 5 coins are clearly fake.

Amber is all fake as well.

Barry Murphy

 

Nothing in the ad is genuine, though a few of the antiquities are slightly passable. He used to sell genuine stuff back in the 80's, but fakes are far more profitable.

 

So I suppose the front cover that I saw years ago about having found the captain of the Titanic in a rowboat with his pipe still lit was fake too?

 

I've seen Sadigh before. I'm surprised they advertise in National Geographic but wonder if it wouldn't cause more problems if they weren't selling so many fakes. Would the Egyptians and others raise more of a stink if they weren't selling fakes?

 

I think it was an ad for a Holy Land Coin Collection in the back of either “Archeology” or possibly “Smithsonian” magazine that hooked me into buying my first ancient coins.

Don’t forget the Certificate of Authenticity!


This set, by the way, contained my first serrated (bottle cap-esque) coin.


On second thought it may have been the slabbed Wise Men coins


It doesn’t matter—whichever—it was the start of a great hobby.