Featured Why I Switched From Collecting U.S. Coins To Ancient Coins

No need to worry about that. There aren't enough around to cover the marketing fees. The only ancients they can even do the with are widow's mites and a few common Roman bronzes - all in excavated condition.

 

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My view in the 1950's was that it was foolish to pay more than face value for a coin. I collected from circulation and sold/traded duplicates to the local coin store. My parents were divorced when I was eight and my mother left me alone while she was at work (that was acceptable then). To keep me occupied, she loaned me $50 so I could buy a bag of cents from the local vending machine company and take the 99% I did not want to the bank in rolls. Rarely, I got bags of higher denominations. One day I noticed a dish of low end ancients at the coin store and it was all over for US coins. When I was old enough to get a job, I stopped looking at coins by the bag and spent my funds on ancients. I had absolutely no problem justifying spending a dollar or two on an ancient but never understood buying legal tender over face. I still have a few I found.

 

Exactly!!

Those who have been on CoinTalk for a number of years may have read my story before, but here it is again.

...

In late 2012 I became seriously interested in coins--- mostly US classics. I grew up around piles and piles of those coins. My grandparents collected old coins from their drugstore cash register in the 1930s-1970 plus my grandfather was an avid trader and hoarder. As a child, visiting my grandparent's house meant playing with endless cigar boxes piled full of strange old coins. Some looked the same as modern coins, others were obsolete.

Growing up, I knew a few things basic things about coins but a serious numismatic interest didn't take hold. That's a shame; it would have pleased my grandfather greatly. When he died, most of the valuable coins were sold for a song. Tens of thousands of mostly well-circulated coins remained though, divided between my mom and uncle who weren't terribly interested in them. The boxes remained under beds for a few more decades.

In late 2012 my mom decided to sell her half. I went home to help. There was only one coin store in the area and I didn't feel very comfortable or confident in them. Still not knowing much about numismatics, when the dealer kept talking about "melt value", I took that literally. I came close to bypassing the middleman and sending them directly to the refiner myself!

Fortunately, within days I came to my senses. Then full-blown coin fever set in. I found PCGS's site, bought books, joined forums, and spent every spare moment sorting and cataloguing coins. Date and mintmark? Not deep enough. Microscopic exam! Doubled dies! RPMs! Rick Snow's books! VAMming! Spreadsheets! I couldn't get enough.

I became active on a coin forum. Then another. And another. Once or twice I looked at the Ancients sections but it was so vast and confusing. Those people must study ancient coins for decades to be able to have such discussions, I thought.

One day I read a CoinCommunity ancients thread in which people posted cropped pictures of emperors and the game was to be the first with a correct ID. It seemed impossible. Loving a challenge, I tried to play. In doing so I must've looked at thousands of coin pictures every day for a month or two, trying very hard to be the first to identify an emperor correctly. It was an unusual way to begin learning about ancient coins-- not very systematic-- but it really did jumpstart my ancient education. Within a week of playing that dangerous game, the sorting and cataloguing of my grandfather's coins ground to a halt as my attention became riveted to ancients.

Still though, buying a coin? Please . Coins are something you get in change. If it happens to be worth more than face value someday... lucky you.

Snort. I'm not going to buy a coin. Who does that?? On the other hand, I'm not going to find an ancient coin in change...

Well, maybe it wouldn't hurt to buy some gnarly uncleaned coins. That might be fun. Clean them up, study them, identify them. Maybe I'll find something super duper rare! Plus, it will educational. How can it be wrong if it is educational?

I bought several batches. They didn't clean up very well at all. It was unsatisfying.

Maybe I could buy just one already-cleaned ancient coin. Nothing wrong with that. It's not excessive, not too indulgent. Pontius Pilate issued coins [edited: no, not really... Tiberius issued coins; Pilate was the procurator in Judaea at the time.]? Hmm. I'll buy one for a dear friend. He's very religious; it would mean a lot to him. Hmm, Heritage has one but it is part of a lot of 9. That's okay, it's for my dear friend. Of course he deserves the gift, who cares if I have to buy a few more coins than I need...

...I guess I could keep one for myself...

...Maybe I'll just keep all but one Pontius Pilate.

Five years later I still haven't given him the coin.

Look, a flying horse! Well, every girl should have a Pegasus, right? I've seen those around. There are many jewelry stores around here with those coins set in gold. If I were going to buy just one nice ancient coin, that's what I'd choose. I should buy one very nice ancient coin. Everybody should have one nice ancient coin, right?

Ooooh, Heritage has a gorgeous Corinth stater-- some disheveled bearded guy doing an ancient photobomb behind Athena's head. Must have. Mine mine mine!

The auction was very exciting. My heart was about to break out of my chest when I won. I was embarrassed to have spent that much money on a coin. I bid on and won another in that same auction (shh, don't tell!). I was just being practical. I saved on shipping, right?


CORINTHIA, Corinth
345-307 BCE
AR stater, 8.65 gm
Obv Pegasus flying left, qoppa below
Rev: helmeted head of Athena left wearing necklace; mask of Silenus behind
Ref: Ravel 1046. Calciati 408. Scarce variety.
from Heritage Auctions, June 2013

I didn't tell my family what I'd done. Coins are something you get in change.

I wanted to buy more.

Another rationalization was in order.

A themed collection. Yeah! I'll only buy coins for a certain theme-- a collection which hasn't been done before. If it hasn't been done before, someone should do it. I'll have to step up. It's my duty.

Several months later, I accumulated enough coins to fully represent the theme although I will undoubtedly add more and upgrade some over time. [Edited: of course I'll continue adding coins. When is a coin set ever complete??]



https://prezi.com/q7mw1k1zur65/pink-floyd-animals/. Let it load, hit Full Screen and play; sound up.


Crack? Heroin? Gambling? Hah. They've got nothing on ancient coin collecting. Individual coins weren't enough. I bought many large mixed lots. It was more exciting if they were unphotographed and minimally described. Since there are no ancient coins lurking in the ground where I live, it's the closest I can come to the thrill of discovery. Searching out the attribution and historical information is loads of fun.

Never in my life have I had I been interested in history… now I love reading about the ancient world as it relates to each coin. If only my grade school teachers had shown actual artifacts to match the topics…

I still enjoy the thrill of large lots but lately have been trying to not to buy every coin that catches my eye, instead focusing on fewer coins of higher quality. It's hard.

The fever has settled into a slow and delicious burn. I'm having so much fun not only learning about the coins and their history but in meeting other collectors. The interesting people, the friendships made... this may be the real treasure the hobby has unearthed.

So, that's the gist of my ancient coin collecting history. Life is good.

...

Happy Holidays, everyone! Here's to a joyful, healthy, and prosperous new year .

 

I started collecting coins in 1968 when I was 9. The prior year, my Grandmother let me go through her coffee can of coins. I found this bizarre "penny" as I was going through the US Cents... I asked her if I could have it as I thought it was different and very cool.

TODAY, I am DUMFOUNDED that I found that coin. However, we found out several years later that my Great Uncle, whom collected coins, probably left it laying out on her kitchen counter and my Grandmother probably scooped it up with the rest of her change. It is not verified, it IS possible that it was in circulation, but I tend to the latter story...


US CWT AE Cent 1863 Eagle - Carpeles Dry Goods Groceries Waterloo Wis Coin no 1

This is my Coin #1. I moved on to 1968 working for 50cents an hour working farms, cleaning stalls (yeah, shoveling s.....), cleaning dog runs, etc. I made enough to start collecting Odd-Type US coins: Large Cents, Half-Cents, 2cent, 3cent Nickels, 3cent Silvers, 20cent, Trade Dollars, and yes, got more Civil War Tokens.

Did that until the 90's, and became disgusted with the Slabbing. My collecting US coins was OVER, it became an investment vs. a Hobby. I dumped them all and pursued my passion for Ancient History. Jumped in with a purchase of 4 Owls and a beat-up Alexander III Drachm - all for the love of History.





Athens Owl all~17g approx22x6.5mm Late Classical 393-300 BC, Sear 2537, SNG Cop. 63

Makedon Alexander III 336-323 BC AR Drachm


I then started collecting Roman Republic Denarii later in the 90's...

RR M Furius LF Philus AR Denarius 119 BCE Janus Sear 156

 

John, your point is well taken. The scope of ancient coins is so broad & so much territory is still uncharted it would take the "investment weenies" an eternity to apply their stranglehold. But they do have an important resource in their tool kit, the internet. NGC is already compiling census numbers of Athenian Owl Tets !

 

Allow me to add my voice. I came to collecting late in life. I have been a hard money advocate since I was a teen, but I never got into the numismatic value in bullion coins until much later. (More on that in a different thread.) I dabbled at US classic coins, but it was clear that they were modeled on Greek and Roman archetypes.

Two events brought me to ancients: I discovered that they cost no more and often less than US coins of comparable collectibility; and I watched an episode of Carl Sagan's Cosmos, "Backbone of the Night" about the Greek philosophers. I assembled a set of about 50 Ancient Greek coins worth a day's wages from the towns and times of philosophers from Thales of Miletos to Hypatia of Alexandria.

I fell out of collecting per se back in 2000, but as an active writer, I still buy, usually with a mind to write an article, whether than happens or not. For me, it is the research and reporting that makes numismatics interesting.

With US coins, no one really cares about the history. No one buys a Seated Quarter because of the Missouri Compromise -- not many, anyway... I would... With ancients, as compelling as some examples can be, like Al Kowsky's Volusian, if you don't know who Volusian was, it is just another shiny coin, and the world has no shortage of those. So, for me, it is all about the history, and hence the ancients.

 

Kind of a theme amongst CT'ers when ever this topic comes up.

 

I started much later than any of you, now days it is a grave yard of zincolns and state quarters. The only few things I have found were a few wheaties, a 1939 nickle and a 1964 dime. I want to start collecting ancients but I think I will stay as a jack of all trades. I still enjoy buying US coins that are raw or not too expensive and also enjoy my banknotes as well.

 

I've been collecting coins since 1985 when I was 9. However since I had no allowance coins were hard to come by. My dad gave me some Canadian coins l left over from a trip and I thought they were the coolest thing ever. Between the ages of 9 and 18 if I acquired anything it was Bicentennial quarters, Wheaties, more Canadian coins, and SBA dollars out of circulation, going through my parents change jars or were gifted to me. My 8th grade Language Arts teacher gave me a 1921-S Cent from a contest where we got a penny per point. Fast forward 29 years later I still get a thrill finding a wheat cent in change. I still love US coins but I now collect foreign as well as they are cheaper and I have a lot of the US series completed. I don't look for investment coins but if I end up making a profit great! Happy collecting!.

 

Same reason I switched from collecting US paper money to foreign. ITS SO MUCH CHEAPER.

The Canadian equivalent of the US Educational Series can be purchased for basically 1/10 of the cost of the US ones. AND they look nicer.

 

(Never mind.)

 

ok

 

Same here. also I heard China is now making counterfeit Morgan Dollars with real silver so perfect that you need a XRF analyzer to detect the impurities ( to prove its not silver mined from US soil)
Ancient coins are a lot harder to fake in comparison

 

I had not. So, thanks for sharing.Your narrative underscores the two reasons that collectors pursue ancients: the history; and the freedom to pursue your own passions.

 

And there’s less of a reason to fake ancients too

 

I guess my story is different. I was kinda dragged into the hobby by my Dad. He at the time collected Canadian coins/ and World gold/ silver coinage. As I was more fascinated by the gold coins in his collection, I started getting them for Birthday/ Christmas presents at 10. By the time I finished highschool and got my first "job" working for you guessed it a lawn maintenance firm So, I hoarded all my $ and bought (stupid me) modern proof sets/ gold proof coins from the Franklin Mint Thank God, a saw an ad from NFA in a coin magazine, so I wrote them, for their auction catalogues. The rest is history, I finally with my meagre coin budget back in 1980 ($2500) was able to score some mintstate gold solidi. From there I started my own "Army of one" business doing lawns and never looked back. However, I went from ancients to all periods in history, and now even got 30 US high quality gold coins! Now, I have surpassed my Dad in my collection, but he is darn proud about that. My New Year's Resolution is to work even harder in 2019, and add at least 50 coins to my collection, including a mintstate Ptolomaic AV Octodrachm.
John

 

As a kid in the Netherlands around 1960, there still were pre-war coins in circulation, especially the 10 cents. In those days, the baker and the milkman were paid at the door and the always had masses of small change. They were friendly gays and helped me finding the old silver coins and exchange them for the new nickle ones. Later I got a box full of coins from the gasmeter man who found all sorts of coins in the meters as people hoped they would start the gas running again. On the other hand I had found out that the US cents were accepted in many slotmachines as an equivalent (in size and weight) for a Dutch quarter.
When I was in my early twenties, I had started to buy real old coins from the Netherlands, but they became increasingly expensive. It was in 1974 that I switched to Roman coins. They still fascinate me immensely and will probably do so for years to come!

Frans

 

I so look forward to seeing your future new gold coins. Have you made a virtual album of all your gold coins yet ?

 

This tale reminds me how the role of coinage has changed in the last 50 years. Today with so few people paying with cash of any variety the young people lack the experience we had needing not just money but a certain kind of money to make a small purchase. Who remembers the Automat in New York City? Who still uses vending machines that don't take paper or give change?

Where I live there is an Aldi grocery store that requires shoppers to push a quarter in a slot on their shopping cart to free it from the rack of carts. The quarter is returned when the cart is put back in the stack but the checker usually switches carts at the register so you don't get the same quarter back that you put in. I wonder, nationwide, if there are any kids that are anxious to see what quarter comes back and help mom with cart return for that purpose. They are the coin collector candidates of the future. I fear there will soon be a generation who won't switch to ancient coins because they won't know what coins are.

 

I don't know any kids that collect coins from circulation today . There isn't the incentive to look anymore because there are so few collectible coins in circulation today. Ancient coins appeal to educated people who enjoy history & disaffected collectors of modern coins who can't afford what they like anymore . I do most of my grocery shopping in a Walmart Super Store located in the small town of Bergen, NY. The number of physical cashiers (real people) has dropped & the self-checkout section has expanded. I like the self-checkout because it's fast & I can put a $100 bill in the machine for a $2.00 purchase & not get a dirty look from a cashier . All the hand baskets have electronic devices attached that are triggered if someone tries to walk out of the store with one . They also have outdoor cameras that monitor the parking lots for people trying to make-off with the shopping carts. We can't bring back "the good old days", just try to adjust to the future .