When Does Rarity Matter?

The bronze coinage struck by the Flavian dynasty was quite massive. Many different types and variants were struck at various imperial and provincial mints throughout the empire. Flavian silver coinage, although quite plentiful, pales in comparison when looking at the raw numbers of types and variants and quantities struck. A rare silver coin is something special. Rare bronzes are quite 'common'. For example, take a look at p. 104 of RIC II.1. Every bronze coin listed on that page has a frequency rating of at least 'rare', some are unique. You can't swing a dead cat (sorry Hershey) without hitting one.



My latest coin, like the Asses on the page cited above, is rated as 'rare' but really has nothing that would appeal to most punters outside the speciality.


Vespasian
Æ As, 9.68g
Lyon mint, 71 AD
Obv: IMP CAESAR VESPASIAN AVG COS III; Head of Vespasian, r.; globe at point of bust
Rev: VICTORIA AVGVSTI; S C in field; Victory adv. l., with wreath and palm
RIC 1177 (R). BMC Spec. acquired 1934. BNC -.
Acquired from Zuzim, November 2020.

A fairly rare Lugdunese As Struck during the great bronze issue of 71 when both Rome and Lugdunum (modern Lyon) produced a massive issue of base metal coinage. Victory was a common theme on Vespasian's early issues and should be most generally viewed in a generic context with no specific link to the Jewish War. This type with Victory sans prow is scarcer than those that include it. This variant features CAESAR fully spelled out in the obv. legend.

I didn't purchase the above coin because it's a rare variant, but rather because I simply just liked it. And the price was right.

Rare variants of common Flavian reverse types in bronze occur all the time. Conversely, rare bronze types, IMHO, are quite special. This extremely rare sestertius is a prized addition. https://www.cointalk.com/threads/enough.368271/#post-4943038

So, when does rarity matter?

Feel free to post your 'common' or 'uncommon' rarities.

 

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As far as I know, I am the only person in the world who has one of these tiny (11mm, 0.8g) bronzes:

That doesn't seem to make it particularly valuable, though.

Obv: [VRBS or POP?] - ROMA
Rev: PIETA-S REIP - Pietas, standing, with infant at breast.

 

Always nice to obtain a new acquisition for one's collection, @David Atherton, and if it's a rarity, all the nicer. But, as @dougsmit has said time and again, there's nothing as common in ancient numismatics as a rare coin. I have several such rarities -- even in the Roman imperial series -- such as the one I'm going to post in the near future for "Faustina Friday." In the meantime, here's a rare Faustina I dupondius:


Faustina Senior, AD 138-141.
Roman orichalcum dupondius, 16.19 g, 26.1 mm, 10 h.
Rome, AD 140-141.
Obv: DIVA AVGVSTA FAVSTINA, bare-headed and draped bust, right.
Rev: CONSECRATIO, Funeral pyre in three stories, set on base, ornamented and garlanded, surmounted by Faustina in biga right; S C in exergue.
Refs: RIC 1189; BMCRE p. 236 *; Cohen 187; RCV --; Strack 1238.
____

Sestertii with this reverse type are not infrequently sold at auction; however, this coin is very rare in the middle bronze denomination. The British Museum does not have an example and it is not to be found at Wildwinds, OCRE, The Coin Project, coinscatalog.com, in the CNG archives or on a search at acsearchinfo. RIC lists it, citing Cohen. Strack cites examples in Paris (the specimen cited by Cohen) and Naples. Neither of these specimens are available for viewing online.

The only other example I have been able to track down in two years is this one sold by Münzhandlung Basel (Auction 1), June 28,1934, pl. 29, 1171, which is a reverse die-match to my coin:



So, that makes four known examples of the coin:

1. Paris specimen
2. Naples specimen
3. Münzhandlung Basel specimen
4. My specimen.

 

In my (small) collection, mostly out of curiosity, I have checked all the coins to see the rarity index in RIC. This was part of the great fun I find in identifying coins.
I found some of them with nice degrees, however I don't care too much about this.
The coins I like have nice designs (for me) or from certain emperors...

I have a lot of coins rated C but I like them more than some rated R2.

Also, I'm sure everybody knows that RIC rarity index is not 100% relevant as many things have changed since the volumes were written and the ancient coins domain is way to vast.

For example this coin is listed as Scarce in RIC so not very "special"
http://numismatics.org/ocre/id/ric.2.tr.693

BUT... Woytek 601 reports just three specimens, all from the same pair of dies, in Glasgow, Paris and CNG 38, 1996 auction (I managed to find that)
Mine is the fourth, however, just an S coin in theory.

 

You've made the important distinction for me already David. Rare types are the thing I actively pursue in my Romano-British collection, and rare legend and bust varieties of types that have common variants are much less of a focus for me. If offered the choice between a £30 common and £150 rare variant of the same type in equivalent condition, and if the variation isn't historically significant, I'll usually go for the common coin. I'll happily note in my records if a coin is a rare variety, but I won't pay a lot because a coin has AG rather than AVG in the legend.

I recently acquired an ADVENTVS coin for Constantine's arrival in Britannia to recruit troop for the upcoming battle against Maxentius, which is a rare type with a number of equally rare legend and bust varieties. If another example with a legend variety cropped up for a good price, I'd certainly be happy to add it to my collection, but for my personal collecting criteria, the hole for a -/*/PLN ADVENTVS coin has been filled, and I would rather focus on the many other types currently missing from my collection altogether.

 

As an addendum to the above, I must also say that I will eagerly pursue minor varieties and interesting differences as and when they crop up as 'snacks'. I currently have a low limit bid on an interesting cuirass depiction on a coin type which I already have in my collection, just because I find the variation interesting and it seems to only have existed in one die, which I've matched to two other examples online.

 

Much of the question is how different a coin must be to be different. Most would separate the two below from wolf left to wolf right but what other differences are significant?

 

Well at least it is now recorded-that's the value

 

This one was listed as rare by Frank Robinson

Lucius Verus, 161-169 A.D.

Type: AE As, 25.5 mm 12.1 grams, R1 according to ACSearch

Obverse: L VERVS AVG ARMENIACVS, Bare-Headed Bust Facing Right

Reverse: TRP IIII IMP II COS III, Emperor on Horseback Charging right holding spear, riding down foe.

Reference: TBD, not in Wildwinds - edit: RIC 1404, rare type

 

Ancients are always tricky. Yes, we have a TON of "rare" coins. But like others mentioned, it will always be of when does it matter? You guys are talking in the realm of small legend or bust variations, one important area where degree of variation is the main determinant factor. However, another huge one is area of collecting. I have coin TYPES from Central Asia that only a handful or one is known and I didn't pay much for them.

Rarity only matters when there is demand. That is why a lincoln cent where they polished away a mintmark is worth so much, or an insignificant tiny difference in tail feathers on a silver dollar matters in terms of price, while other areas of the world you can own unique types for a fraction of that.

Its actually a wonderful benefit of our area of the hobby versus others. An average collector, with knowledge and perseverance, can still assemble an important collection of rare coins on a collector budget. That simply is not possible any more in many other areas of numismatics.

I would direct everyone to read @Valentinian wonderful page on the subject. I read it years ago and still reread every few years, it is so good:

http://augustuscoins.com/ed/numis/rarity.html

Btw, his whole site is excellent and in my mind required reading for all ancient collectors.

 

Rarity matters when I own it.

When you own it, or are selling it, it is immaterial.

 

LOL

 

This is Thompson issue #1 Obv 3 of which there were only 2 coins in NSSCA both of differing reverses. Mine made 3. Research by me now shows that there are now 8 known differing reverses coupled with that one obverse, while obverse 1 & 2 are still only known as singletons.

Why? It still is a unique coin as far as the reverse is concerned but of at least 8 examples now.
It's all in the research-until it comes time to sell!

 

I agree with @medoraman ; @Valentinian has an excellent write-up on his site discussing Rarity.

I do not worry too much about Rare. However, when I find items that fit my collecting focus, it is fun for me to be able to capture some RARE items that are in my specialties. I feel that the RARE items are more for MY benefit, and realize that it may mean absolutely NOTHING to someone else. However, this Hobby is for my enjoyment, as it is a Hobby. I know some folks like to state that it is "Our" Hobby, but I do not view it that way. If it were, we would ALL be collecting the EXACT same items. My collecting follows items that I enjoy, and are perhaps more unique to my tastes. Ergo, what is RARE for my areas may be, understandably, NOT interesting to another.

I actually have several coins that are considered RARE on the rarity scales. However, because they are not "mainstream" Ancients, most folks may have interest (thank you), but would probably never buy them. I am happy with that. My coins make me happy, and what makes it a Hobby for me.



Carthage Zeugitania First Punic War 264-241 BCE Double Shekel 26 mm 13.9 g Wreathed Tanit Horse stndng r star above SNG Cop 185 Rare

 

Great lesson everyone, thank you.

 

A very interesting discussion. Ancient rarities come my way from time to time, always by accident.

Here is a Flavian I could not find another example of - unless I am mistaken (and there is a real good chance I am mistaken) this is an obverse legend variety - "CAES VESPAS AVG". The others seem to be either VESP AVG or VESPASIANVS from what I could find:



Vespasian Æ As
(75 or 76A.D.)
Rome Mint
IMP CAES VESPAS AVG COS [VI or VII ?], laureate head right / S-C, Spes standing left holding flower and hem of skirt. Holed planchet.
RIC 823 (VI) or 894 (VII)?
("CAES VESPAS" var. ?)
(9.89 grams / 26 mm)

Just last week I got this little Geta provincial that seems to be the second one in existence (online existence, anyway):



Geta as Caesar Æ 16
(c. 198-209 A.D.)
Bithynia, Prusa ad Olympum
K Λ CE ΓETAC, bare head right / ΠPOYCAEΩN, Eagle standing left on thunderbolt.
RG 114; SNG Leypold -; SNG von Aulock -.
(2.47 grams / 16 mm)

Notes: Found one example (in two different auctions):

Leu Numismatik AG Web Auction 9 7-8 Sep 2019 Lot 676 Price realized: 150 CHF
https://www.numisbids.com/n.php?p=lot&sid=3366&lot=676


Saint Paul Antiques Auction 18, Lot 286, 13.10.2018
https://www.acsearch.info/search.html?id=6017369

 

This is a rare coin which I think may have some significance numismatically. It’s a Galerius argentus from Nicomedia. It’s unlisted in RIC, and possibly unique. I think it ought to be owned by someone who specializes in that mint or time period. Instead it belongs to me, a general collector. Which is fine too, when I come to think of it.

 

Very nice coins! I need to get into Flavian bronze - they are quite attractive and decently affordable, even in nicer grades.

As far as rarities - I own this one, which is apparently RIC 381 without a rarity rating, but it is the only example I have ever seen.

It is a rare combination of TR P XXXI + IMP VIIII, struck around October/November 177, in the narrow window before his 9th imperial acclamation and the renewal of his tribunician powers for the 32nd time in early December of that year. The fact that it is rare is just icing on the cake - I bought this coin for the portrait only.


Personally, where rarity really matters to me is when it is an historically important individual whose portrait is rare on coinage. Some favorites:

Quinctilius Varus, the general who lost three entire legions in the Teutoburg Forest; he is only known on coinage from his brief stints as governor of Africa and Asia, and only the African coins bear his portrait


Vedius Pollio, a man mostly remembered for his cruelty to his slaves - specifically for feeding them alive to ravenous eels, which he would later cook and eat. Appears only as governor on a small issue from Tralles in Lydia


This one depicts Lucius Caesar, grandson of Augustus by Julia and Agrippa. After years and years of propaganda depicting Gaius and Lucius as the bright future of Rome, Lucius died of an illness en route to his first military assignment in Hispania. He is not rare on coinage, but he is rare by himself, and especially so with a legible name. This tiny AE from Antioch ad Meandrum is one of only two known, and is by far the finest.

 

Nice coins! I especially like that Lucius Caesar. Here is his brother Gaius Caesar and (step?) grandma Livia:


Gaius Caesar Æ 20
Tralles, Lydia
(5 B.C.-1 A.D.)
ΓAIOΣ KAI[ΣA]Ρ, bare head r. / KAI[ΣA]ΡEΩN ΛEIBA, Livia, veiled, as Demeter standing front, holding corn-ear and poppy, right hand raised, crescent beside her head.
(5.50 grams / 20 x 18 mm)
RPC I 2648; BMC 117; Imhoof LS 27; Waddington 5419-5420 etc.

 

Nice catch @David Atherton. As mentioned, for a provincial coin this portrait is rendered very well indeed!

To answer your question, well... not quite sure. Some coins appeal to me that are not rare. Some coins appeal to me that are rare, or scarce. Sometimes desirability and rarity go hand in hand. It's a bonus if I catch a coin that is both, but rarity is not decisive on itself. And to be honest, rare and cool coins generally tend to be out of my price range

Here's an example of a coin where rarity and desirabilty go hand in hand:
Why is it rare? Because of the drapery on the bust. But the main reason I got this, is 1) the reverse and the history behind it, 2) the beautiful bronze highlights, and 3) because it was very affordable for me -)). The rarity is a great bonus, but not decisive.