Coin Collecting For Dummies. Neil S. Berman

a coin show? Your insurance company may place limits on the value of the coins you transport, and it won’t pay you if you leave your coins unattended, even to go to the bathroom. It will place restrictions on how you transport the coins as well.

       What will the insurance cost? Every insurance company is different, but expect to pay based on a cost-per-value basis.

       What about deductibles? A deductible reduces the amount of money you receive in the event of a claim. If you have a deductible of $500, and your loss was $3,000, you receive $2,500. Sure, you can get a nondeductible policy, but those policies are the most expensive kind. Generally, the higher the deductible, the lower your annual premium. Your job is to find a balance between the two that makes you comfortable.

      Shop around, and expect to find a wide range of pricing and coverage options. Choose the company and policy that are right for you, and you’ll sleep better, knowing that if anything happens to your collection, you’ll be covered.

Part 2

      Ancient to Present Day: Choosing Coins for Your Collection

IN THIS PART …

      Explore several paths you may be interested in taking as a collector.

      Survey collecting areas, not so much to convince you to collect them, but to open your eyes to them and give you more options when adding coins to your collection.

Chapter 5

      Showing Their True Age: Ancient Coins

      IN THIS CHAPTER

      

Discovering the coins of the ancient world

      

Figuring out which ancient coins to collect

      

Recognizing the effect of age on value

      

Understanding the language of the ancients

      Mention the word ancient, and your mind probably conjures images of Roman gladiators, Spartan warriors, Greek gods, emperors, Cleopatra, Alexander the Great, and many more. Similarly, ancient coins remind collectors of history because they’re historical records. Long after papyrus and sheepskin records have rotted away, coins remain to tell the story of people and events from long ago.

      In reality, ancient coins are like members of any other coin series. They’re no more mysterious than U.S. half dollars, Spanish doubloons, or Austrian schillings; they’re just older and a little harder to read. As with any modern coin, you can find helpful books and online resources that tell you all about ancient coins.

      This chapter introduces you to the world of ancient coins, giving you just enough information to whet your appetite. Get ready to enter the worlds of Julius Caesar and the goddess Athena, and come face to face with other famous names from the past.

Ancient Coins — of Gods and Men

      Ancient coins are all about history. Without newspapers, mail, telephones, faxes, overnight delivery services, email, and the Internet, the best way to spread information throughout a kingdom 2,000 years ago was with coins. Each Roman ruler, for example, issued his own coins upon assuming the role of emperor. Thus, you find Roman coins with portraits of Julius Caesar, Brutus (the brute who killed Caesar), Nero (who is said to have fiddled while Rome burned), Marc Antony (Cleopatra’s lover), and other Roman rulers. Greek coins, on the other hand, favored the images of gods and goddesses such as Apollo, Athena, Zeus, and Hercules, not to mention lesser figures such as Pegasus the flying horse and various nymphs and mythological figures. Even the goddess Nike (named after the shoes you’re wearing, or was it the other way around?) appears on Greek coins, often driving a chariot pulled by four horses.

      Coins are like time machines that bring the ancient world to us and transport us back to a world much different from the one we live in today. Although historians provide stories of the ancient world, coins provide additional insights. Coins are permanent records of military victories, marriages, deaths, new rulers, births, places, and events. In some cases, coins are the only historical records we have.

Deciding Which Ancient Coins to Collect

      The field of ancient coins is so broad that it would be impossible and frustrating, if not mentally unhealthy, to try to collect them all. Therefore, collectors gravitate to certain areas that have become very popular. In this section, I highlight areas in which you may also want to develop an interest.

      Ancient Greek coins

      The Greeks learned about coinage from the Lydians (their neighbors and inventors of the first coins). Between 500 and 400 B.c., Greece’s various city-states produced some of the most beautiful coins the world has ever known. Early Greek coins are crude little bean-shaped pieces with punched designs of animals or other objects. But over time, the designs became more sophisticated, and the beans flattened out into the thin, round pieces that are the hallmark of coins today.

During this period, the Greeks at Athens issued large silver coins called tetradrachms with a bug-eyed owl on one side (see Figure 5-1). The owl was the symbol of the goddess Athena, who considered the bird to be sacred. In turn, Athena was revered by the people, who considered her to be sacred and named their city after her. The ultimate Greek coin was the impressive decadrachm, a large silver coin from Syracuse (Greece, not New York).

      FIGURE 5-1: Athena’s sacred owl on a coin.

      

A drachm or drachma is the basic unit of Greek money, even in modern times. Tetra means four, so a tetradrachm equals four drachma. Also, because values of coins were based on their weight, a tetradrachm weighs exactly four times as much as a drachma. A decadrachm equaled ten drachma.

      The Greeks employed interesting and unusual designs for their coins, including grapes, roses, wheat, eagles, crabs, dolphins, and rabbits, not to mention images of many of the Greek gods and goddesses. Yet while they made liberal use of images of gods and animals on their coins, they shunned portraits of real people. Even Alexander the Great’s image never appeared on his own coins until after his death, and by then, he had been converted to a god by many of his successors and fans. Some Greek coins show Alexander wearing a lion’s head as a helmet; another shows him with the tusked head of an elephant atop his own head!

      As Greek civilization declined, so did its coins. At one point, the Greeks became so desperate for metal for their coins that they made them out of bronze and then silver-plated them to make them look like their more valuable counterparts. They even melted down statues of the goddess Nike to make gold coins.

      Ancient Roman coins

Rome started as a monarchy (ruled by kings), became a republic (ruled by representatives of the people), and then veered toward a dictatorship (ruled by Caesars) as the Romans created a worldwide empire. Unlike the Greeks, the