Coins are classic collectable items. The opportunity to own a piece of history used by people of times gone by has established coin collecting as a popular hobby enjoyed by individuals of all ages. Using coins as a medium of investment is also becoming more widespread.

Collectable coins have a value that depends on two major factors; scarcity and condition. Prices are set by collectors and dealers based around demand. This happens mainly through auctions and a network of coin dealers. As well as rarity and condition, coins can also be attractive due to their cultural or historical significance. Coins featuring famous historical figures can often carry a premium due to their international fame.

Collectable coins are distinctly different from bullion coins, whose value derives solely from the weight of the precious metal they contain.

SCARCITY

The rarest collectable coins exist only in very limited quantities. Own a rare item in first rate condition and you have a reasonable chance that its value will increase in the future. The value of a rare coin is set and evolves through demand from the widespread collector or investor base. Although hoards of coins occasionally come to light, supply is usually strictly limited to known pieces on the marke

AN HONEST, TRANSPARENT MARKET

Coins are bought and sold through a network of dealers. Some specialise in particular aspects of the coin market. Coins are also bought and sold through coin fairs, and at auctions. It is a global market not dominated by any one player. Values are set by supply and demand. Auction records are a reference point for prices and values and there are well documented historical price trends for almost every type of coin.

 

GLOBAL IN SCOPE

There are collectors of, and investors in rare coins in most markets of the world. Many start off by collecting in the coins of their own country, or those of a particular historical period. So whether it is coins of the English Civil War period, American silver dollars, Islamic coins or Ancient Green and Roman pieces, there is an active market to suit the interests of most collectors and investors.

A HUGE VARIETY

The rich variety of historical coins and medals issued over the past 2000 years gives an amazing opportunity to anyone interested in starting a collection of their own. It might come as a surprise to many that it’s possible to own a genuine Roman or Greek coin from over 2000 years ago; or that a medieval silver groat of King Henry VIII, which might appear more at home in a museum is actually available to buy. Paintings from the Elizabethan Period or Ancient Classical Statues would cost a small fortune, but coins from these periods can be far more affordable. Coins are miniature monuments to the times they originate from, and a lasting, physical memory of the rulers and people who used them. It is an exciting prospect for many to build a collection of historical coins from a time period which fascinates them. As well as high value pieces there is a plethora of material available at almost any price point, making it possible for budding collectors of any age as well as seasoned veterans of the coin world to build or enhance a collection.

To guide you through this process, Baldwins’ experienced staff of specialists can tailor an initial pathway of coins to suit your interests, your time horizons, and the amounts – large or small – you wish to spend. 

How did you get started?

On Friday afternoons I used to be taken from school to see one of my two Grandma’s, my Father’s Mother.  She lived in a very Victorian house which had a parlour, dark cold and spotlessly clean; in the sideboard was a wooden box in which were my Father’s medals from World War Two, he was a Wireless Operator Air Gunner with 240 Squadron R.A.F. with Coastal Command and then in the Far East with the Special Duties Flight of 240, where he and his crew delivered Force 136 S.O.E. and O.S.S. agents in to the Japanese-held islands.  My bedtime stories, when small, were taken directly from his RAF Log Book and he would tell me the story of one “Op” from briefing to the target and back, I never got much sleep but the stories were fascinating.  One Friday afternoon in June 1969 on my visit to Nan, my Grandma gave me the box with the medals in; I went home made a display, got a book from the Library and was totally hooked on medals and the stories.  More family medals, cap badges, steel helmets, bayonets and trench art started to turn up as Aunts and Uncles at last found a home for all this military junk they had brought home from various wars; World War Two, World War One and the Boer War were well covered stretching back to my Great Great Great Grandfather, Private Henry Dickerson, who joined the Rifle Brigade in 1854.

What is your favourite medal?

For pure aesthetic look, design and feel the first Arctic Medal, the shape, the star suspension and the pure white ribbon are a joy to behold.  The stories behind the medals are absolutely fascinating, as Franklin and his men wandered through the ice and then the rescue missions to find them, real “Boys Own” adventure stories, but pieces of history you can hold and own.

What is your Top Tip for collectors?

Handle as many medals as you can, go to shops talk to your friends, attend the OMRS Convention, join an OMRS Branch, go to museums and ask to see the medals and handle them to get the naming styles and fonts engraved, (forgive the pun) in your memory. Consulting now for Baldwin’s for just over two years, I have crossed from collector to dealer, a completely different world, fascinating but very different, and the one startling fact that stands out is how many medals are wrong, re-named, broken, reconstituted and alas just fakes.  Know your medals; know what they should look like and feel like.

Do you collect and if so what?

From those early days I was given a poster of all the British Medals from 1815 onwards up to about 1965, my first collection was one of each medal and clasp.  I have now about 500 medals and clasps but I am still looking for the elusive few, Defence of Kelat-I-Ghilzie, South Vietnam, the Newfoundland Volunteer War Service Medal and a few more!

I collect RAF Log Books and have about 70, two for the Battle of Britain, a Dambuster, many to Lancaster crews and of course my most treasured Log Book, my Dad’s.

I started back in 1986 a Great War Casualty collection, a medal or group or Plaque or scroll to a man (or woman) killed during the War; the concept was to collect medals to a man killed on every single day of World War One.  I have about 750 days completed.  I also tried something similar with World War two casualties and found that, although this could not be done by day, it was possible by campaign.  I have about 350 casualty groups from the sinking of H.M.S. Royal Oak, an ARP Warden in the Blitz to Dunkirk, D-Day, the Battle of Britain, Imphal, Benghazi, and Monte Casino etc.

If you could retire to an exotic location where would it be?

Well not exotic but over the many years of travelling to the Battlefields of Northern France it would have to be the Somme, a haunting place that never ever ceases to amaze me.

When not working how do you relax/unwind?

I have managed to turn my life-long hobby into a job.  I was lucky enough to be chosen to be part of the Militaria team on the BBC Antiques Roadshow, and I have taken people to the Battlefields for over 35 years.  I lecture in medals and military history, my days are very full with work but doing something I love.  I have two dogs who I like to take on long walks, I enjoy shooting during the season and I have returned to another boy-hood love, making model aircraft – military ones of course!

 

The island of Sicily has an unusual past.  During the classical period the small island off the coast of Italy was home to a variety of small city states, originally Greek colonies – the largest of which was Syracuse.  Syracuse, unlike many traditional Greek cities, had a tormented political history.  From the 5^th Century BC until the Roman period, it was ruled both a tyranny and a democracy – sometimes both – countless times in its history. One tyrant, however, has become more infamous than any other.

Agathocles was a tyrant of Syracuse and King of Sicily, who, after conquering Syracuse in 317 BC (and promising to uphold the city’s democratic values) murdered over 10,000 of its citizens, made himself master of the city, and formed a massive army to conquer the rest of Sicily.

‘It cannot be called prowess to kill fellow-citizens, to betray friends, to be treacherous, pitiless, irreligious. … Still, if the courage of Agathocles in entering into and extricating himself from dangers be considered, together with his greatness of mind in enduring and overcoming hardships, it cannot be seen why he should be esteemed less than the most notable captain. Nevertheless, his barbarous cruelty and inhumanity with infinite wickednesses do not permit him to be celebrated among the most excellent men.’

Machiavelli, on Agathokles of Syracuse.

Silver Tetradrachm and bronze Trias of Agathocles, depicting the nymph Arethusa. Syracuse, c.317-289.

 

The tyrant’s army of mercenaries needed payment, and for this, gold staters were struck.  Gold coins were always popular with mercenaries, who would be able to take the small, high value objects back to where they came from.   Depicting the Goddess Athena, and a thunderbolt of Zeus, Agathocles’ coins are some of the finest of the ancient world.  Athena’s helmet is decorated with a depiction of Pegasus, the winged horse, which has remained in exceptional condition on this coin, while most examples have completely worn away.  Agathocles also issued silver coins, called tetradrachms, which were common denominations in the ancient world.  They feature a portrait of the local nymph goddess Arethusa, who was said to live in the fresh-water spring on an island in the bay of Syracuse.  She is a common motif on Sicilian coins.  

Agathokles’ gold 100 Litra coins usually feature a portrait of Athena and a thunderbolt. Struck c. 304-289 BC, Syracuse.

The coins of Syracuse, and other Sicilian cities, are considered some of the highest quality of the ancient world.  Prior to Agathokles’ rule, massive silver decadrachms were issued.  These huge silver coins, weighing over 40 grams, were the largest silver pieces of the ancient world.  The artists who engraved the dies for these masterpieces actually included their signatures as a mark of pride in their work.

Agathokles ruled for over two decades, though the final years of his life were plagued by illness.  He died of natural causes in 289 BC.

Huge silver decadrachms were issued by Syracuse at the end of the 5^th Century BC. 

 

The Romans hated kings.  Since XXX BC Rome had been ruled as a Republic, and as a Republic, had risen to become the dominant power in Western Europe.  Hannibal was defeated.  Greece was occupied, and Celtic Gaul was being subdued thanks to a popular general by the name of Gaius Julius Caesar.  The Senate controlled Rome.  A select group of high-ranking citizens controlled the armies and almost all elements of Roman society.

 

Caesar’s military denarius depicts a snake (the senate) being crushed by Caesar’s power.  Silver Denarius, 49 BC, Moving Mint.

 

Caesar is without a doubt one of the most famous figures in history.  He was cunning, ruthless and ambitious.  His ambition, combined with the strength and loyalty of his armies, resulted in him Crossing the Rubicon, and eventually being elevated to ‘Dictator for Life’ – a newly created position reserved only for him.  The Senate hated this, but had to oblige – Caesar had the military might to do essentially what he wanted.  

A traditional Roman Republican silver denarius featuring the head of Roma.  Silver Denarius, Rome, 137 BC.

 

During the Roman Republic, coins were issued by moneyers and featured motifs relevant to Roman history or mythology.  The heads of gods appear commonly on these coins as well as animals and buildings.  During the 1^st century BC, the faces of ancestors begin to appear, but never a living person.  Caesar changed this.  He was the first living person ever depicted on a Roman coin. 

Caesar’s denarii would have caused a stir.  Clearly portrayed are his distinctive facial features. Silver Denarius, Moneyer M. Mettius, Rome, February 44 BC.

Silver denarii were issued in 44 BC onwards, bearing Caesar’s portrait in impressive detail.  All of the dictator’s features were depicted as Caesar wanted, there was no flattery.  Suetonius, writing in the 2^nd Century AD, describes Caesar’s appearance as ‘lean, with a long and wrinkled neck, prominent nose and thinning hair’, all of which are visible on his coins.  Some bear the inscription ‘CAESAR DICT PERPETVO’ or ‘Caesar, Dictator for Life’.  Thanks to Caesar’s historical fame, coins bearing his portrait are very valuable today.

The coins of Caesar’s Assassins were generally more conservative, pushing Roman Republican values.  Silver Denarius, Moving Mint, 43-42 BC.

 

Depicting himself on Rome’s coinage would certainly have infuriated the Senate – it may have been the last straw.  On the 15^th March, 44 BC, knives were drawn in the Senate house.  Caesar was assassinated, and the conspirators ousted from the city.  Caesar’s Assassins struck coins as well.  Brutus, in a somewhat hypocritical move, issued a rare few coins depicting his own portrait, and two daggers, with the inscription ‘EID MAR’ referring to the Ides of March.  He did, however, return to more traditional designs supporting civil liberties and freedoms.  During their campaigns against the Pro-Caesarean factions of the civil war which erupted after Caesar’s death, the assassins Brutus and Cassius issued coins from moving military mints, most of which are rare.  They were both defeated at the Battle of Philippi, in 42 BC. 

 

Octavian’s naval victory at Actum was celebrated on a silver denarius issued for the anniversary.  Silver Denarius, Rome, 27 BC.

 

Caesar’s right-hand man, Mark Antony, and his adoptive son, Octavian, would continue to grapple for power for another decade.  This would eventually culminate in the Battle of Actium, which saw the defeat of Antony and Cleopatra, and Octavian’s ascension to sole ruler of the Roman World, and the first Roman Emperor.  

 

 

 

Constantine’s reign was a turning point in the history of the Roman Empire.  He introduced economic and social reforms which would see the end of a century of crisis in the Roman world, but most importantly he allowed for a religion which had been shunned by Roman Society for three decades to come into the light. 

Constantine was declared emperor by his troops in 309 AD, in the British City of York (then Eboracum), after the death of his father, Constantius I.  At this time, the Roman Empire was ruled by a number of emperors, working together.  Constantine declared himself sole ruler of the empire and marched on Rome, to face his rival Maxentius in battle.

 

A strange event occurred when Constantine was on his way to Rome.  According to sources, Constantine and his soldiers witnessed a massive Christian symbol, the ‘Chi Rho’ on the horizon.  The night before his confrontation with Maxentius, Constantine had a strange dream.  He was told the name of God, and that if his soldiers fought under the banner of Christ, then he would have his victory.  The following morning, to the horror of his generals and no doubt some of his soldiers (most of whom were traditionally Pagan) Constantine ordered that the shields of his men be painted with the ‘Chi Rho’.  They obeyed.  

 

The ‘Battle of the Milvian Bridge’, October 28^th, 312 saw the demise of the emperor Maxentius and Constantine’s elevation to sole emperor of the Roman world.  The Christian symbols appear to have worked.  Not only did Constantine legalise Christianity across the Empire, he actually converted to the religion before he died, starting a lineage of Romano-Christian emperors which would last for a thousand years.

 

    

                                           

Constantine’s reign lasted until 336 AD.  Many of his coins feature radically new artwork which had not been seen on Roman coinage before.  He introduced a new gold coin which would become the staple of the Roman world for centuries – the Gold Solidus.  Very rare solidi feature the emperor’s head facing upwards towards god and after his death, special commemoratives were struck, which include the hand of God welcoming Constantine to heaven.

Constantine paved the way for the Christian Era.  Churches were thrown up in Rome, on the sites of former martyrs’ deaths.  It was no longer a shunned, underground practice and by 380 AD, Christianity was the state religion of the Roman Empire.  Constantine also founded what would become the new capitol city of the Roman world – Constantinople.  

 

 

 

 

 

 

 

 

Commodus is probably best known for his appearance in the 2000 film, Gladiator.  Though quite inaccurate, the film may actually have captured his wild, cruel side quite well.  Commodus has received mixed reviews in history.  He is seen as a mad emperor who indulged in the excitement of the Roman games.  Popular with the masses, but hated by the Senate. The polar opposite of his father, the great Marcus Aurelius, Commodus is known to have appeared in the Colosseum, but rather than just spectating, he would actually get involved in the melee – though he would always win any fight.

In his later years, Commodus is thought to have slipped into madness, believing he was the demigod Hercules, and even depicting himself as such in sculpture and coins.  This splendid gold piece, however, shows us a scarce, young portrait of the ruler, struck at the very beginning of his reign. Surviving in extremely fine condition, with much of its original mint lustre in-tact, it is hard to imagine a finer example.  The coin also holds a fantastic provenance which dates back to the 1970s.

Commodus (177-192) AV Aureus 7.39gm., Rome 178 AD. Laureate, cuirassed and draped  bust right, L AVREL COMMODVS AVG. Rev: Castor, naked except for cloak seen on breast and shoulder, wearing round cap, standing left, in front of horse left, holding it by the bridle in right hand and spear in left,  TR P III IMP II COS P P. (RIC III 648 (Aurelius);   MIR 18, 420-12/37; Calicó 2337B;  BMCRE 774-5 (Aurelius and Commodus);  Biaggi 1014),  Extremely Fine, well struck with considerable amounts of original lustre.             £40,000

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