Hard Asset of Choice: Ancient Coins

 

When selecting your Hard Asset of Choice you might want to consider Ancient Coins.

Why Ancient Coins?

Ancient Coins require the most knowledge of any Hard Asset.  To fully understand Ancients you need to understand the History, Monetary systems and Art.   Some things to consider: 

1, The Historical Figures of the Period, the Kings, Tyrants, Consuls, Satraps, Generals, Usurpers, and their political and military achievements.  It's good to have a basic knowledge of Latin and Greek so you can read the coins.  Ancient coins were often meant to be Proclamation Issues as well as monetary units.  They tell stories about who is in charge, and what their accomplishments are.  It's good to know the context of those rulers and their acheivements.

2. The monetary systems of the areas that interest you: Staters and their division, Darics, Drachms, obols,  Mnaeion,  Aurei and Denari etc.  A working knowledge of the monetary system of an area is a big help.   Mint marks and control marks give clues as to the exact location of issue.  Some mints are prized by collectors.  Some control marks are dates that link issues to important events.  These are all things that are good to know.

3. And most important, Many Ancient coins are Artworks, executed by some of the world's greatest artists.  Some of whom we know the names, others are anonymous.  To appreciate art you really must have a working knowledge of the History of Art.  You can always say, "Well I don't know much but I know what I like," and that's fine.  But not knowing much will lead you to rely on the opinions of others, on consensus, on labels.  And over time that's not worth much as "consensus" changes.   The more you bring to it.  The more you get out of it.  A well developed eye is crucial.

4.  Like all assets you have to appreciate Condition.  Many ancients are slabbed.  So the condition of those will have numerical values to help you out.  Yet within that there are issues that collectors consider that are not included in the grade.  It's good to know what they are and how they affect value.  For example: A mint state coin with high surface nd strike grades should be great.  But if that one small mark on the coin happens to be right on the King's face - well, that could be a deal breaker for many collectors.  That sounds like common sense - once you know it.

Opportunity - Barriers of Knowledge present enormous opportunity.   Every Lamborghini Estoque is similar.  Every ancient Oktadrachm is different.  Many Hard Assets are simply momentum plays for the super wealthy.  Some ancients coins can be like that.  But many ancients take enough knowledge that the playing field can be tilted away from the wealthy to the knowledgeable.  That's a rare 0pportunity in the field of Hard Assets.

Track Record.  Of all hard Assets Ancient coins have longest track record.  Ptolemy collected coins at the court of Alexandria in 300 BC.  Many Roman Caesars collected coins.  Constantine the Great collected coins.  The Medicis and the Borgias and most of the Kings and queens of England were avid coin collectors.  The Carnegies and the JP Morgan collected coins.  If you want you can research coin values and collections going back through all periods of human history.