I think I'm going to adjust my collecting strategy

I have my share of attractive coins, but I've always had a weakness for rarities/expensive types in decrepit shape (one can always find a nicer one later). I think I'll try to focus on more attractive coins.

As a relatively budget buyer (generally $500 or less - mostly sub $300), this budget still allows for some pretty nice types.

My recent Heraclius Sear 882 buy inspired me to go on an attractive coin kick. A really nice one was always on my bucket list and I've always collected by patina, so a super nice one was an easy choice.

But...what was it St. Augustine said? I foggily remember reading about him saying something to the effect of help me Lord..just not yet. My latest buy was of some relatively decrepit ones, albeit of types I've always wanted. One of them was an Imperatorial coin, the other an early 8th century Byzantine. But most Byzantine AE coins of the period 695-720 are fairly decrepit... Until it wears off, I've been on a Byzantine kick lately. I normally collect Roman and sometimes Hellenistic kings.

And I was better about it, I recently bought a nice Leo III.

Some ideas in my budget range; Hellenistic Tetradrachms, Rome style Philip Antioch Tetradrachms, nice patina coins, etc.

Athough I enjoy large flan Ants of Philip I (and Carausius), Antoninianii generally don't do all that much for me.

And if they have a nice patina, I might actually go after coins of emperors' wives. I have exceptionally few of those. Other than Didia Clara, I might not have any others...

One can also find some pretty nice 3rd century Sestertii in that price range. Or a somewhat not feeble Nero As/Dupondius.

Any ideas? (Hint, I don't care much for small coins and I don't go too much for Ant's.) I do enjoy the Roman Republic, esp. the period from Marius to the end. I also really enjoy Alexandrian Drachms, large Ptolemaic AE, Seleucid kings, etc.

 

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Oh, and I love Double Sestertii of Postumus. I've always wanted a Sestertius, but I've never found one at the right moment.

 

Greek bronze? Roman Republic?

 

I do enjoy denarii of the very late Republic.

 

The change isn't so much what I collect, but how I collect. I'm going to try to be disciplined and generally focus on attractive coins.

But Octavian's Actium arch and Tiberius Apsimar were calling to me.

Attractive patinas can also make a lower grade coin (VG or F) attractive and save for terrible surfaces, the large posthumous Tets (33+mm) are attractive.

Up to $500 (It's rare that I go over that threshold) should still open a lot of coins to this new strategy.

Old way; about 60+% of my personal buys of the last 10 years were decrepit rarities. My new goal is to perhaps have a 75% beautiful to decrepit ratio.

 

It going to be tough to collect large, rare Ancient coins and stay in the $300 or less range. What about the family of Constantine? You could collect the larger nummi in nice condition + some rarities?

 

Maybe you can consider saving up and buying fewer, pricier coins of higher attractiveness. That usually works.

 

When I started my collection I too fell into the "trap" of buying low grade coins because they were "rare". Because of this I had a hodgepodge of coins ranging from EF to Good. Please note: I believe that the highest grade attainable for an ancient coin is EF but that is just me. The end result was that I became dissatisfied with the lower grade coins. I didn't even like looking at them. After awhile I established a minimum standard. This standard was not fixed. I believe that the more expensive the coin is the better the coin should look. For the last 40 odd years this system has worked for me. I have found that when I have broken my own rules I usually regret it rather quickly.
Denarius of M. Iunius 145 BC Obv, Helmeted head of Roma right. Rv. Dioscuri on horseback charging right spears leveled Crawford 220/1 4.13 grms 17 mm Photo by W. Hansen I bought this coin in 1986. It was in a Swiss auction and was remaindered. I bought it along with three other unsold lots another of which I still own. I have been happy with this coin ever since. As for the lower grade coins I purged them decades ago.

 

Well, as Joseph Campbell said, "Follow your bliss". If your bliss is for attractive, high quality coins, so be it. They often fetch the higher prices at auction, if not only for their more universal appeal to collectors and non-collectors.

My coins run the gamut, mostly because I am sometimes attracted to a coin that has characteristics that are not necessarily those of high preservation or even beauty, such as coins with interesting countermarks, coins of unusual origins, coins that imitate a popular type, coins that interesting, but not necessarily aesthetic strikes, such as major rotations, and coins that even have stuff on them that look like an animal on top:




But, yes, generally speaking quality trumps quantity. I wonder when I'll ever learn that lesson?

 

I'm team #decrepitrarities. As a specialist, I really have no other choice.

For instance, would you turn this away because it isn't EF (or even VF for that matter)?



Vespasian
AR Denarius, 2.84g
Rome mint, 74 AD
Obv: IMP CAESAR in exergue; Vespasian stg. r., with branch and sceptre, in quadriga r.
Rev: VESP AVG across field; Victory on prow r., with wreath and palm
RIC 688 (R). BMC 147. RSC 569. BNC 121. Hendin 1484 corr. (rev. legend).
Ex Nomos Obolos 4, 21 February 2016, lot 575. Ex GH Collection. Ex Superior Galleries, The Moreira sale, Part II, 10-11 December 1988, lot 2374.

It's one of my favourite coins of all time.

 

Beauty is in the eye of the beholder ... it's hard to know what you will find attractive. Personally I would go to Vcoins, put $300 to $500 in the filter, and see what grabs your attention. I just did that; not much shows up that I would call attractive, but your tastes are likely different.

 

That type is very, very neat.

I could buy somewhat more expensive coins, but I want to be somewhat true to a budget. I have been known to venture into the >$500 pool. It just isn't often.

The most I've ever spent on a coin was an HJB Tremissis of Johannes, purchased in the 90s. It's relatively worn for gold but not terrible; a quite decent fine.

Even with hideous gold prices, Solidi of Leontius (695-8) aren't THAT expensive. I have always wanted one...

AE of the Constantinian dynasty are a nice suggestion, but other than a few neat bust types or issues, my interest during that period deeply trails off after the defeat of Maxentius. It does pick up with Magnus Maximus, and I am lucky enough to have a nice Siliqua of his. My interest then drops off again after Eugenius.

A coin of Eugenius has always been on my bucket list. I usually luck into things in my hobbies, so the right Siliqua could come along.

I have zilch interest in re-selling any of my coins, so it really doesn't greatly matter if I continue on the VG or F trail of more desirable types.

Even I shy away from G or below, unless it's something I've always wanted and can't otherwise afford. Bronze disease is another dealbreaker. That's too much of a pain in the neck to deal with.

There are quite a few really attractive AE coins that can be had for $500 or less in the pre-294 Roman series, especially when it comes to Asses or Dupondii.

While I'm still on the Byzantine kick, I'm trying to acquire some really nice examples of certain types, like that S882 I recently posted, and I have my eye on a certain coin which is better than the Sear plate coin. I'd also like to upgrade the Heraclius Seleucia. Mine isn't all that great, but it was literally the only one of that type available for sale on vcoins.

Or I suppose I could wait a month or two and snag a common Solidus. However, gold's currently too high for me to justify an AV purchase unless it's something I always wanted. The Jack Benny in my just won't allow that.

Here's an of example of what I mean by a budget example of a nicer type: I had always wanted this type and along came one which wasn't totally terrible. One can always upgrade a lower grade coin. It does get one's foot in the door for the type, however.

And yes, I do have some nicer coins (random example):


I've been an opportunistic buyer over the years. Some buys were pretty decent.

One buy that I do deeply regret on missing out on; somewhere in the 2011-2014 ranger there was a vcoins Carausius Denarius for sale, somewhere around $700. I wasn't all that flush at the time or else I would have hopped on that long-time want.

 

I think I remember that one, and I too have hesitated too long....

Q

 

I can't afford a proper Tetrarchs Sacrificing Argenteus. I got this one from eBay for £20 instead. My opinion on rarity vs grade varies from day to day.


My biggest regret is not paying £70 for this because of the surfaces. I would really like an ADOPTIO type. I've pivoted away from the Travel Series and this is now my Hadrian goal.

 

I am a bottom feeder.
My most expensive ancient coin is a Julia Titi dupondius (120 EUR+ fees). Being Julia Titi, it's obvious the coin is not in excellent condition.


But it pretty much depends on what you want and what you can afford.
I pay a lot (for my income) on coins and I will stop at least for a while as I have other priorities but I also feel my urge to buy new coins has decreased a lot. I am happy with my collection and I managed to add most of my targets.

Collecting means buying what you like and what you afford.
I was discussing with a collector who told me "you need to add an Otho".
I think that a collector doesn't need to add anything. Especially in ancients where the number of coins to choose is huge. If I want to add one, I will see.
Rather than paying 300 EUR for a very modest coin of Otho I would prefer 5 denarii from common emperors or Republican or Greek or Provincials, but coins I like.

My advice would be simple - if you see a coin and you like it and it fits your budget, buy it. If you see one that you like but you feel it's expensive (either an expensive type or a high price due to a bidding war) skip it. If you see a coin and your first thought is "I want this type but slightly better" make sure you get it with a low price.
I have some coins in very modest conditions (well, for an exigent collector probably 90% of my coins are like this). But I made sure the price is also ... modest and when I browse my album, I look at them with the same pleasure like for better coins.

 

Yes, there's certainly no shame in being a budget collector. A collector of $5 Constantinian coins can have the same love of history as the finest collector. There's a lane for both the budget collector and the finest collector.

It's a hobby and any prudent person should spend commensurately with his or her free income. And with today's increasingly uncertain world one would be very foolish to be reckless.

I'm a regular guy and I split my disposable income between two main hobbies. While I always have loved coins, the coin part was relatively dormant for almost a decade. In my other hobby I didn't have the biggest income but I managed to meet and exceed all my goals. The ultimate rarities all seemed to come to me in time.

I also have the advantage of having collected for a long time; I was able to get my Otho back in the 90s when they were cheaper.

As a budget collector I also avoid auctions like the plague. Besides hating the idea of having to duke it out with someone else over the item and usually paying too much, what's the point if one can only focus on one or two lots? I haven't done auctions since the late 90s, although a few of my favorite coins were unsold lots. While not disrespecting it at all for people who do hold it in high esteem, provenance also means little to me. All of our coins have some kind of story. The ugly and decrepit Postumus Double Sestertius could have been part of the 1773 East Tar Pit Hoard for all we know.

The provenance of my S882 Heraclius was all very interesting, but would it have influenced my buy at all if it had been owned by Harold Appleknocker? Not at all. I saw a very attractive example of a long time want and hopped on it.

But getting back to the subject at hand we budget collectors have to use our wits and be nimble. One usually knows where to get deals on some very attractive coins. If one's smart and/or lucky, one can even pick up attractive coins of the 12 Caesars - even sub $200.



I've only just purchased this coin, but since it isn't very expensive I don't think I'll jinx myself by posting it. I have far more attractive coins on my to buy list but before pivoting back to Roman I present to you a way nicer than average S805. One almost never sees facial features of the emperors or legends. There's an XF example I have my eye on with full legends and details, arguably less attractive though with corroded surfaces, probably because the way it was cleaned, and is five times the price of this one. I may or may not get that one.

 

Buying more attractive / higher quality coins certainly makes sense from the point of view of eventual resale, and hopefully either getting most of your money back or maybe some appreciation.

Of course it depends on what you collect. If you have broad interests then you can afford to skip certain coins because they don't meet the quality bar, but on the other hand if your goal is to complete a set of some sort then you may have no choice but to compromise on quality for some based on rarity or price.

Part of this is understanding the true market place rarity of types you are interested in - when you can pass and hold out for a better specimen, and when you need to lower your standards if you hope to own a rare type at all.

 

To answer the rhetorical question: yes, I would. No matter how rare the coin is I could not enjoy it in this condition. But that is just as well. Since people like me and the other generalists stay away, you, the specialists, can get it cheaper. I think it is a good thing that people have different preferences. There is no right or wrong in collecting coins. Everybody should collect what gives him or her the most joy.

 

I fully agree with that statement. The only strategy that works long-term is "buy what you like (and can afford)".

 

Right from the start at 10 years of age, I liked coins in pristine condition. Back then, I would get inexpensive coins like common date AV Sovereigns/ French 20 Francs/ stuff in MS. Then, when I got a job, started collecting better coins.
I would be happier with a European graded EF then TPG MS-62/63/64 in medieval hammered coinage.