Ancient coins found near Sardinia: What does it mean?

Just last week, a diver discovered a stunningly large group of coins off the coast of Sardinia. Someone out for a dive spotted “something metallic” in the seabed, and lo and behold, it turned out to be a vast deposit of Roman coins. Initial weight counts indicate there could be 30-50,000 individual coins in the hoard. Here is a good summary. While there isn’t much information available yet, there’s a couple of things we can infer.

The coins were nicely preserved bronzes from the early-to-mid fourth century, mostly folles. They are likely all from the Constantinian dynasty, which are some of the most common types of ancient coins. Of the thousands found, so far only four have been described as “damaged.” This is actually good news! The commonness of these types ensures that a large find like the Sardinian one is unlikely to seriously shake up the market. Consider how hoards have changed the Islamic coin market (under the heading, “Hoards” on page 3). Pieces that were considered extremely rare tumbled in value after hoards started appearing for sale. Imagine if this had been a find of rare denarii or aurei–we would be looking at a similar situation! However, in this case the Sardinia “hoard” will ensure a steady supply of these coins for years to come, without rocking the boat, as it were.

A hidden shipwreck?

On the other hand, the sheer size of the find indicates that there’s bound to be a few highly interesting pieces. What statistics can’t answer definitively is the next question all this begs: is there a shipwreck hidden in the area? Some pottery was found alongside the coins, possibly from containers that once held them. Although the remains of a full shipwreck have not been found, experts say it’s possible. It’s also possibly that the coins and the jars they were in were lost overboard if the ship carrying them ran into trouble. We’re betting that archaeologists and numismatists alike can’t wait to see what’s found next at the dive site. And honestly, neither can we.

It’s unclear when more information will be released, but if you can’t wait to get your hands on this kind of coin, ECC always has them in stock. Consider getting ahead of the curve! Contact us for more information on grades, specific types, and prices.