I went to my first coin show last weekend and I might be going to another in a month or so.... I was surprised by a couple of things; first by the vast volume of Morgans! and the other was the larger-than-expected supply of Ancients. Some dealers had hoards of ancients, even hundreds of them in bowls for $10ea. Question: Generally speaking, are these to be trusted as legitimate coins? It just seemed odd to see SO MANY! I'm way to new to distinguish between most fakes vs real coins. I don't mind buying a few inexpensive ancients (and perhaps a fake or two for comparison) while I learn and study them but I'd like those first few coins to be the real deal. Thanks for reading and Cheers! JP
Ancient coins exist in the MILLIONS because they were struck in the BILLIONS. Go to a really large show where Educational Coins attend. They have quantity on lots of coins. I have seen them have BAGS of Pontius Pilate coins. Yes, they exist in large quantities, and with a good dealer you are pretty sure they are authentic. Too many people get hung up on age. Most ancients are not worth as much as an average BU Morgan. Not that many, (relatively speaking), are worth as much as ax XF/AU bust dollar. Sure, auction firms broadcast expensive ancients, but there exists huge troves of inexpensive ancients if you know the right place to look.
Great answer by @medoraman , 50 years ago I attended a coin fair and bought a fairly decent denarius for the equivalent of 50 cents today. In real economic terms the coin was worth far more nearly 2000 years ago when it would have fed or housed me for a day than in 1971 when 50 cents wouldn't have bought one glass of beer. I always thought that was an interesting perspective.
Ancient coins are literally a dime a dozen in many cases. Nothing to be concerned about unless you're buying silver coins or gold for next to nothing, in which case yes be very concerned.
I got this rare Gallienus from a dealer for $8. Sometimes you can get really good deals from dealers who have too many coins to handle.
Oh yes! There are large lots of fourth century Roman bronze coins that wholesalers sell by the kilogram and dealers make a profit on even at a couple bucks each. We all have coins we've spent less than $10 to acquire.
Thanks to all for the replies.... my mind will be a little more at ease why diving into these ancient hoards at coin shows. and thanks to @hotwheelsearl for the super easy transaction awhile back.
When I first started, I was concerned that coins were too cheap. My first ancient coin was this Augustus as for $10 on eBay, and I thought I bought a fake. I soon learned that if you're lucky/know what you're doing you can easily get great coins for good prices.
Take a look here http://augustuscoins.com/ed/numis/ for a beginner's guide to ancient coins. Page 2 explains why they are so common. Collecting ancient coins is a great hobby!
HIGHLY agree. I still reread it periodically, and Warren's wonderful explanation was the source of my answer OP. Every new collector should read it and thank him.
A story many here have heard but you might enjoy: The late Don Zauche was my favorite show dealer. He always had many cheap coins. At one Baltimore show about 10 years ago he had a container with several hundred small late Roman bronzes in mostly identifiable condition for $2 each. These were most for his kid trade but they sold to people who wanted something 1700+ years old, too. He would even do a quick ID if he was not swamped with customers. After shopping the show, I revisited his table just for a chat. He told me that after I left the first time some guy came by and bought the whole bunch for full price. Actually, neither of them wanted to count them so they agreed on a number (400, I believe) and away went the coins. The man was planning to put them in cheap slabs (NOT NGC but the do it yourself type) and sell them for $29.95 through some magazine ad. These were better coins than many I have seen in such ads but no coin in the bunch was worth $5 IMHO. Of course I have no idea how many the guy sold and for what discounted price. All I know is that Don put out more low end coins that were even better marked $5 your pick. Some show dealers have a hundred coins worth at least several thousand dollars each. Others have 10,000 with none worth $10. A few have coins ranging from $2 to $2000. I miss Don.
