by Adam Crum
Last week, two major auction houses in Europe saw record-shattering results in the category of “12 Caesars” ancient gold and silver coins. Many lots in the sale hammered at previously-unseen prices, confirming again what I have been telling our customers for months: Ancient Roman and Greek coins are white-hot, and I believe we are in the early stages of a long-term bull market. As I have stated in all previous writings, these coins in investment grade with problem-free surfaces and edges are extremely scarce to excessively rare, and there are simply not enough to go around to satisfy the surging demand of the past few years.
I’ve instructed our agents in North America and throughout Europe to pursue every auction and every lead to acquire as many select ancient gold, silver, bronze and copper coins as they can – as long as they fit our criteria of “problem free” surfaces. I’m sure you can appreciate that most ancient rarities have significant problems given their history and age. I continue to believe that the discriminating collector will see the biggest benefits as the groundswell of collectors continue to enter this exciting market place from all over the globe. Yes, this is a global growth market as almost every country in the world can tie historical roots to the ancient western world. With a market as global as this one is, is it any wonder that growing demand is forcing prices higher?
As a major market-maker in this arena, we were armed and ready for the auctions in Europe last week, and we had intended to buy as many lots as we could get our hands on, only to discover we were being blown out of the water and outbid by many other buyers!
I am more convinced than ever that we are at the beginning of a fascinating graded ancient coin market that is seeing incredible growth and opportunity. As a new wave of information and education continues to grow, in addition to the relatively new third-party grading and certification by NGC, I believe there is little doubt that confidence and demand will explode. This new demand will only intensify, and prices are poised to increase, and I believe, significantly. This is one of those “in the right place and at the right time” kind of moments, and I encourage you to explore and study these ancient world wonders.
The following are some of the highlights from last week’s sales:
| Descripton | Listed Grade | Price Realized |
|---|---|---|
| Tiberius | Choice AU+ | $21,500 |
| Tiberius | Choice AU | $17,500 |
| Tiberius | Choice AU+ | $20,250 |
| Claudius | AU | $92,000 |
| Galba | AU | $135,000 |
| Titus | XF | $28,500 |
| Titus | AU | $36,750 |
| Titus | AU | $44,000 |
| Nero | Choice XF | $13,000 |
The above coins are all part of the first “12 Caesars” coinage of the Roman Empire. They are extremely popular, and quality, problem-free coins are difficult to acquire. Some of the “12 Caesars” coins are so rare we hardly see them at all, and as you can see by these results, collectors are taking notice!
There is no better time to get started on your “12 Caesars” collection than right now. Call your Monaco Account Representative, or click on the link below to see our current inventory of these exciting Ancient coins.