DOOR PRIZE TO BE GIVEN AWAY!

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1 In this issue of our newsletter, we have another great article from Jeff Garrett on the subject of Discovering Ancient Coins. Our next meeting will be held on Monday, August 20, 2018 at 6:30 PM at our new location at the Embassy Suites at Lexington Green, 245 Lexington Green Circle. As a reminder, they have asked that we not bring in outside food or drink when attending the meetings. Instead, there are several convenient locations within the facility to purchase soft drinks, coffee, or food items. DOOR PRIZE TO BE GIVEN AWAY! You won't want to miss this meeting! Jeff Garrett at Mid-American Rare Coin will be donating another door-prize item to be given away. Also, Jeff had a really nice deal for any club members who would like to become members of the American Numismatic Association. Jeff will pay 100% of the first year s basic membership dues (the online version of The Numismatist, a $28.00 value) for any club member who wants to become an ANA member for the first time. The ANA offers members many outstanding benefits including discounted coin insurance, life insurance, library use, on-line delivery of The Numismatist Magazine, and a great numismatic convention each summer. 1

2 DISCOVER ANCIENT COINS By Jeff Garrett Roman Republic Victoriatus In the last couple of weeks I have been preparing for the upcoming ANA convention in Philadelphia. The show is highly anticipated this year due its prime location on the east coast of the United States. Philadelphia is also an excellent location for collectors who wish to bring their family along for the numismatic journey. As usual, we will have a large and diverse selection of material for sale. Mid- American Rare Coin Galleries offers everything from Colonial coinage to Double Eagles. We also offer an interesting selection of ancient coinage. When walking around most bourse floors at conventions these days, I am amazed by how many rare coin dealers now offer ancient coins. I would estimate that 20-30% of the tables at most shows have ancient coins as part of their inventory for sale. This is a huge change from just a few years ago. In the past, most of the ancient and world coin dealers were closely grouped in a small section of the bourse floor. Now, ancient coins are sprinkled throughout the convention. Even the largest companies in the world (Heritage, Stack s Bowers and others) have staff and inventory devoted to Ancient coinage. 2

3 There are many reasons for this huge change in the way American rare coin dealers view this important segment of the market. One of the most important has been the acceptance of third party grading for ancient coins. The NGC ancient coin program, led by David Vagi, has given buyers and sellers the tools to deal in this somewhat complicated part of the rare coin market. Buyers are now more comfortable with ancient coins because of the expert attribution and grading that NGC offers. In the past most collectors of ancient coins wanted to hold and feel these relics of the past. Many have decided the security of third party certification far outweighs this single benefit. Alexander the Great Tetradrachm Ancient coins are also extremely popular because of their historical importance. Most have great stories and colorful characters attached to them. Who can resist a silver tetradrachm struck around 300 B.C. by Alexander the Great? Few people in history had a greater impact on the world than this Macedonian King. He conquered most of the known world, and established Mints throughout his empire. Julius Caesar is one of the best known names in Roman history. The coinage of Julius Caesar tells an intriguing story, including his ultimate fate which was depicted on the famous Ides of March issue. The story of the Roman Empire is well told in its ancient coinage and collecting this area of the market is an endless pursuit. 3

4 Syracuse Tetradrachm One of my favorite parts of the Ancient rare coin market is the incredibly beautiful coins of ancient Greece and its surrounding empires. Many of these coins are collected more for their artistic merit than rarity. The coinage of ancient Greece has had an impact on coinage designs for two millennia. Augustus Saint-Gaudens was highly influenced by Greek coinage. One of the all-time great coins of the ancient world is the Syracuse Decadrachm from around 300 B.C. These coins are incredibly beautiful and one the most desirable coins ever struck. If you could only own one ancient coin, this should be it! Septimus Severus Denarius Ancient coins are also very popular because of affordability. Many very interesting ancient coins can be purchased for less than $200. This includes a large number of different Roman silver denarius. Large groups of these show up 4

5 on occasion, and are amazing works of ancient art that can be purchased for very modest sums. Ancient gold coins are much more expensive in most cases, but are relative bargains compared to scarce American gold issues. The field of Ancient coin collecting includes a vast number of issues. Coins were first struck around 600 B.C. and most consider ancient coins to include issues thru the Byzantine Empire ending around 1200 A.D. As has been my advice over the years, I highly encourage you to research any part of the market before jumping in too deeply. There is a tremendous amount of scholarly work on the subject. Start with some of the more basic issues, one of which I highly recommend- the 100 Greatest Ancient Coins by Harlan Berk. I would also recommend subscribing to the many auction houses for their catalogues. These have an incredible amount of information and it is very informative to see what actual coins sell for. You could also consider attending the ANA seminar- INTRODUCTION TO COLLECTING ANCIENT GREEK AND ROMAN COINS, a 2 day class being held August 12 th and 13 th at the Philadelphia Marriot Downtown. The class is being taught by Kerry Wetterstrom, a world class expert on ancient coinage. The seminar costs $234 for ANA members and is designed specifically for new and beginning collectors of ancient coins. I have been dealing in rare coins for several years, but I am by no means an ancient coin expert. Over the years I have sought out mentors in this area of the market and I suggest you do the same. There is no substitute for experience, and you re learning curve will be greatly helped by working with a dealer that gives great advice. Morgan Silver Dollars are great to collect, but I doubt anyone would find them nearly as interesting as coins of the ancient world. If you are looking for a numismatic challenge, give ancient coins a close look. You might become hooked. 5