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[CrazyDude]

A 2,000-year-old coin - one of only 22 made - has sold at auction for £400,000.

The gold coin, known as an aureus, shows the emperor Augustus in the form of Apollo on one side and an image of a heifer on the other. It's the most desirable of five different versions of the coin and is entirely unique.

"This is a truly extraordinary coin," says Christopher Webb, head of the coins department at auctioneer Dix Noonan Webb.

"Not only is it a unique type of an already very rare coin, but its condition after more than 2,000 years is extremely fine and visually it is a beautiful work of art. It also represents an epic period when Augustus built an empire that changed the course of human history."

It's not known exactly when the coin was struck - although it's likely to be shortly after Augustus founded the Principate, the first phase of the Roman Empire, in 27BC.

At that point, he changed his name from Octavian to Augustus, meaning 'stately' or 'dignified'. He proceeded to enlarge the Roman Empire and secure its safety with buffer states beyond its borders, initiating the era of peace known as the Pax Romana.

He reformed the taxation system, developed a network of roads, established a standing army and constructed new buildings in Rome.

Investment potential

The reason for the high price is the extreme rarity of the coin. Only 21 other examples are known to exist, of which 15 are in museums, leaving just seven for collectors to compete for. This one went for well over the £300,000 estimate: indeed, once fees are included, the buyer will have paid £480,000.

It's not known whether the successful buyer was looking for a work of art - or for a good investment. But the coin could certainly be the latter. According to the Knight Frank Luxury Investment Index, rare coins have gained in value by 225% over the last ten years, 9% in the last year alone. It makes them one of the best-performing collectibles investments, second only to cars.

Specialist investment firm Blanchard advises would-be collectors to choose quality over quantity, and target rare coins, particularly those whose rarity isn't reflected in the price or which are required to fill a set. And don't expect a quick return: "Buy the rarest, highest-grade coins you can afford, and hold them for the long term," they say.

http://money.aol.co.uk/2014/09/24/roman-gold-coin-reaches-400-000-at-auction/

 

[John Dunbar]

The reason for the high price is the extreme rarity of the coin. Only 21 other examples are known to exist, of which 15 are in museums, leaving just seven for collectors to compete for.

my dubious math sense is tingling.

 

[CrazyDude]

my dubious math sense is tingling.

Must be a typo since at the start of the article it says there is 22.

 

[Osiris]

my dubious math sense is tingling.

22 Coins total, including this one, think about it...

The reason for the high price is the extreme rarity of the coin. Only 21 other examples are known to exist, of which 15 are in museums, leaving just seven for collectors to compete for.

 

[RoKKeR]

That's a good looking coin, yep.

 

[John Dunbar]

22 Coins total, including this one, think about it...

my reading comprehension sense is non-existent.

 

[Clydefrog]

better check it for chocolate first!

 

[Borgnine]

Greetings fellow numismatists!

 

[Don't Laugh]

that's amazing

the op doesn't specify how much this coin would have been worth in octavian's day, though, unfortunately...

 

[sixteen-bit]

better check it for chocolate first!

mmmm, 2000 year old chocolate

 

[Rubenov]

For how old it is, it's preserved very well.

 

[Jaeger]

I used to collect coins. Once I realized it was not cost efficient for a broke bloke like myself to get the most desired examples, I stepped away from it.

 

[Beardz]

I'd buy that for a dollar.

 

[BasilZero]

Amazing how good it still looks o.o.

 

[xbhaskarx]

"shows the emperor Augustus in the form of Apollo"

Excuse my ignorance, but what makes a side view of Augustus "in the form of Apollo"?

 

[dr3upmushroom]

Amazing how good it still looks o.o.

Yea pretty good detail.

 

[ComputerMKII]

Someone's a lucky motherfuckus.

 

[maquiladora]

Beautiful coin. Fantastic craftsmanship.

 

[Don't Laugh]

"shows the emperor Augustus in the form of Apollo"

Excuse my ignorance, but what makes a side view of Augustus "in the form of Apollo"?

apollo wears a laurel crown

 

[Hari Seldon]

Yeah that is in top shape. I wouldn't mind owning that haha.

 

[daviyoung]

Augustus isn't really a good name for a cow, but whatever

 

[Angry Grimace]

Amazing how good it still looks o.o.

There's a reason gold is valuable.

 

[Drazgul]

that's amazing

the op doesn't specify how much this coin would have been worth in octavian's day, though, unfortunately...

After Augustus's coinage reform, one sestertius was worth four asses and one aureus a hundred sestertii, or 400 asses. That's a lot of ass.

 

[Don't Laugh]

After Augustus's coinage reform, one sestertius was worth four asses and one aureus a hundred sestertii, or 400 asses. That's a lot of ass.

interesting. thanks!

 

[Parch]

A 2,000-year-old coin - one of only 22 made

Why was there only 22 made? Or do they mean there are only 22 known to exist?

 

[Buzzbrad]

Why was there only 22 made? Or do they mean there are only 22 known to exist?

I assume 22 known to exist.

 

[studyguy]

For some reason I read the title as 2000 year old Ronald Regan coin sells for etc
Losing it apparently.

 

[Cameron122]

My boy augustus

 

[Fusebox]

Looks fake. How come the dot pattern goes off the edge?

 

[Jacobi]

The quality of this coin is just stunning. 2000 years ago! Man... Wonder what my ancestors did back then...

 

[ezrarh]

The difference between rich people and average schmucks like us, they get to collect stuff that gains in value. I'm a big fan of Roman history so that's really cool to have a coin from that era in the condition that it's in.

 

[Muffdraul]

Why was there only 22 made? Or do they mean there are only 22 known to exist?

Dude, coins were a real bitch to make back then. The guy probably made 22 and said "Fuck it, I'm done. Call me when they invent the mint."

 

[Kraftwerk]

I would love to own one. I am absolutely fascinated with Rome.

 

[sikkinixx]

Beautiful coin.

Though it always bugs me that old coins are never stamped in the middle, they always have the extra bits around the edge. They could make a fucking aquaduct miles and miles long at a nearly imperceptible slope for the water to flow properly, but not a perfect coin.

 

[phaonaut]

Looks fake. How come the dot pattern goes off the edge?

It moved or was slightly off center when it was pressed.

 

[CadetMahoney]

Dude, coins were a real bitch to make back then. The guy probably made 22 and said "Fuck it, I'm done."

I loled at this more than I should have.

 

[dark_chris]

Looks fake. How come the dot pattern goes off the edge?

2000 year old coin..
Dot pattern looks odd.
Really? lol.

 

[PhoenixDark]

 

[18-Volt]

I've got couple of Roman coins back at home, aged 1600-1700 years but none of them even worth 300 bucks. Too bad I can't take them outside of country, if I did I could have sold them for much much higher. Like, ten times.