Get started collecting ancients right now!

 I’ve only been collecting ancients for a little over 5 years. Before my preoccupation with them, I felt quite ignorant on how to get started. I was left with many assumptions, such as ancients generally being expensive, undecipherable, or teeming with fakes. These assumptions were wrong! Here’s how to get started immediately:

-       - The first and paramount task is to not buy the coin, but BUYTHE BOOK!  That’s a common saying in our hobby, considering the plethora of insider knowledge involved and scammers out there. I cannot emphasize this point enough, and furthermore keep in mind that the learning should be continuous. Scholarly works and articles in addition to more hobby-oriented material abounds for most areas of numismatics.

-        - Study the Market: search eBay listings (completed ones too) and study what common coins sell for, and sellers to avoid. The more studying here, the better your prospects will be in avoiding scammers and obtaining hidden gems.

-        - Study eBay or other listings of graded coins: The two main TPGs (Third-Party Graders), NGC and PCGS, are the way to go. Their grading is conservative and market-acceptable, so any other TPGs should be avoided unless you’re confident in evaluating the coin by its own merits. The reason to study graded coins is twofold:

o   1) You learn how ancients are graded, sometimes only accounting for the level of detail left on the coin. Other times, the TPG will breakdown not just the technical grade/wear of the coin, but will also rate the surfaces or mention other phenomena like scratches, accretions, etc.

o   2) Besides being eye candy, graded ancients also help you learn the portraits of rulers and design types. In other words, it’s a good way to acquaint yourself with what’s circulating out there.

Delmatius and his elusive coinage

 

Late Roman Imperial coinage is appealing to collectors due to its abundance and affordability. The Constantinian dynasty is a common focus in this area of the hobby, since it comprises many historical figures, reverse types, and themes to collect. The well-known Gloria Exercitus series is ubiquitous, so finding the scarcer Delmatius issue of this type is fulfilling.

 There are two respects in which Dalmatius’ imperial roman, bronze coinage is elusive: generally, regarding any type appearing in the market; and specifically, his Gloria Exercitus (Glory to the Army) two-military standards issue. The latter issue’s lack of visibility will be a main contention in this essay, ignoring his rare gold issues.

 Quick Bio

Delmatius (or sometimes spelled Dalmatius) was a nephew of Constantine the Great. He oversaw Greece from 335-337 AD. After Constantine’s death, both Delmatius and his brother Hanniballianus were likely killed upon the orders of Constantius II, Constatine’s longest-reigning son from 337-361 AD.

 General Collecting

Delmatius’ most common and virtually only available coin is the Gloria Exercitus bronze coin, namely it’s smaller module with only one military standard between two soldiers on the reverse side of the coin.

In AORTA, an encyclopedia of Roman imperial coinage by Rasiel Suarez (2011), the author designates Delmatius’ coinage as generally common. However, he does mention a problem of his coins appearing regularly on the market. The “C” or common rating for Delmatius’ coinage in the market in AORTA belies the collector experience and Suarez’ own admission of scarcity in the market.

Since gold is beyond my collecting means, and silver is even more rare in the later empire, bronze and billon coins are always my target. Delmatius officially has only one bronze coin type, his Gloria Exercitus type.

 Gloria Exercitus Type

Among Delmatius’ AE 3/4 coin entries in AORTA, 23 records out of 92 are specifically for his two standards Gloria Exercitus type. In other words, 25% of his bronze coinage in the catalog! In around 15 years of collecting, I have only seen (virtually or in person) one of these types with two standards. Just one!

Rasiel indicates 11 out of 13 mints issued this coin module. David Sear in Roman Coin (Volume IV, 2011) indicates the price difference between the one-standard and two-standards coins is for VF $35-40 versus $40-50, respectively. XF is $100-120 versus $120-140. So, the price disparity is negligible despite the two-standards issue being almost non-existent in the market.

 Conclusion

Let’s assume my experience is just anecdotal . I then suggest you check E-bay, it’s current and completed listings. Check VCoins, check anywhere. If you run across the Gloria Exercitus, two-standards module for Delmatius, I suggest you purchase it before I do!

Grading Ancient Coins

 If you are familiar with grading US coins, let alone world coins, you're ahead of the game.

If you can grade world coins too, you're further ahead. 

Ancient coins usually have suffered some environmental damage or influence to a larger degree than modern coins because of their history. So with ancients you have two primary aspects to consider when evaluating a coin: 1) it's wear or technical grade; and 2) it's present condition as affected by environmental factors. 

With modern coins, you have to be cognizant of number 2, i.e. environmental factors like encrustation, porosity, corrosion, glue, etc.- but with moderns these issues are less common. 

Ancient coin condition or its level of preservation is always paramount along with the wear or technical grade.  

Take for example this Constans late imperial bronze coin - how would you grade it?

Here's my answer: about VF (Very Fine) details, full patination but rough in spots.

When grading an ancient, you want to look at both sides, however. The final grade typically averages the two sides, but the obverse or heads side carries more weight as with modern coin grading. 

How about this Licinius bronze coin below:

My answer: XF details evident by full hair details, sharp facial and crown features, smooth/unworn fields around face and legend lettering, nice light-green patina. A coin of this caliber might simply be given an XF (extremely fine) grade, with no further mention of condition.

In sum, be mindful of the amount of wear a coin has and it's level of preservation or condition. For wear, you have to see many examples of a given type to know what is good detail vs more worn states. Experience is key, and this goes for discerning die wear from circulation wear also, which can sometimes complicate things. 

Practice! Look at graded coins online, validate seller descriptions, be an informed collector and you'll have grading down in no time.