Why are people the way that they are.

Roman Collector · May 18, 2021

Valentinian said: ↑

If lack of wear is your only criterion, that coin is exceptional. Lack of wear can bring exceptional prices. If one coin is "slightly" better than another, we cannot assume it will cost only "slightly" more. Here is a part of the PCGS price chart for some common coins:
https://www.pcgs.com/prices/detail/copper-type-coins/-9/most-active

View attachment 1305857 In the lower right we see that MS68 examples can worth very much more than MS67 examples, even though most of us could not reliably tell them apart. So, it is the case than a "slightly" better coin can be worth "very much" more.

Now, returning to first Magnentius coin. It is a very common type and not even a special variety. There are better mints (Amiens) and better varieties (e.g. with a chi-rho above the shield). Also, although the lack of wear gives it a high "grade," much of the legend is crowded or missing (which is a big detraction) and the flan is ragged, which is also a detraction. So, is it really one of the best of its type?

Here are two to think about.
View attachment 1305869

This one has better legends, lovely earthen cover, and a bold chi-rho above the shield. However, it is more worn.

View attachment 1305870

This one has better legends (although far from perfect), a cross-rho above the shield (which is desirable), and is from the Amiens mint (a mint that minted only for him and his brother, Decentius). It has a lovely green patina, which shows chipping at the edges. It has little wear, but the strike of the Heritage coin is deeper.

So, among the three coins, which is "best"? The best one might be worth far more than the others.

Well, if I didn't know the Heritage coin sold for so much money, I would prefer either of the other two. I collect early Christian symbols (and many other things) on coins and these two have good examples. The Amiens mint one is from the mint with interesting historical connections to Magnentius. Both have nice surfaces, if in much different ways. Now that I know the Heritage coin sold for so much money, I still prefer these two. I used them to illustrate early Christian symbols on coins on a website.

http://augustuscoins.com/ed/Christian/ChristianTable6.html

The portraits are good and typical. They help tell the story of Magnentius.

Why might one prefer the Heritage coin? Lack of wear. Only lack of wear.

Serious ancient-coin collectors think that there is more to desirability than lack of wear. CoinTalk proves it. Note how many of our threads begin with a historical story that is connected to a coin.

My two coins were bought long ago (for $25 and $23), so their prices are not in 2021 dollars. If those two were less desirable that the Heritage coin I could not say the price multiple was wrong because "slightly" better can cost "much more." Maybe some think the Heritage coin is better. Not me. I think it sold for far more than it should have.
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I could not agree more with Warren here.

Mine has a chi-rho, too. It was $18.10, including shipping. It's every bit as historically interesting -- perhaps more, even -- than the Heritage example, but at 1/50 the price when you account for buyer's fee and shipping.

Magnentius, AD 350-353.
Roman billon heavy maiorina, 4.68 g, 20.1 mm, 6h.
Arles, AD 352.
Obv: D N MAGNEN-TIVS P F AVG, bare-headed, draped and cuirassed bust; A behind.
Rev: VICTORIAE DD NN AVG ET CAE, two Victories holding wreath inscribed VOT/V/MVL/X and surmounted by chi-rho; I//PAR.
Refs: RIC viii, p. 217, 184; RCV 18823; LRBC II 441; Bastien 272.

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Restitutor · May 18, 2021

Terence Cheesman said: ↑

Well it looks like I was wrong in my assertions about the Titus denarius. Good to know. I had thought of actually purchasing one but I already had this coin.
Vespasian Ar Denarius 79 AD Obv, head right laureate Rv. Capricorn facing left. RIC 1058 3.43 grms 18 mm Photo by W. Hansen. View attachment 1305680 I really did not think that I would want two coins with the same reverse type that minted within a short period of time of each other. Also I bought this coin at the ANA in Chicago 2019 so I got to see it in person and I really liked it. I imagine trying to find a Titus denarius with the appropriate reverse in a similar grade would be very difficult. Thank you for solving that dilemma
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That’s a small fortune you have right there!

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Why are people the way that they are.

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