2014-2017 AUREUS by International Coin House

For all the Computer Aided Design, laser-etching, complex finishes and intricate shapes used on modern coins, there’s no finer coin to hold in your hand than something steeped in the history of the greatest empire of the ancient world, Rome. Of those coins the Aureus is amongst the most sought after, both for its relatively large size and for its scarcity, especially prior to the reign of Julius Caesar.

The Aureus was valued at 25 silver denarii and was about the same diameter, but heavier due to the differing densities of gold and silver. Julius Caesar standardised the weight at 1/40th of a Roman pound (8.18g), but as with anything in the financial world, they gradually got smaller and smaller until by the time of the Emperor Constantine, they were replaced by the Solidus, a coin weighing only 4.55 grams. However, regardless of the size or weight of the aureus, the coin’s purity was little affected. Analysis of the Roman aureus shows the purity level usually to have been near to 24 carat gold in excess of 99%.

Because the Roman government issued base-metal coinage but refused to take anything but gold or silver coinage in payment for taxes, inflation was rampant, Along with the debasement of the silver denarius which by the mid 3rd century AD was virtually devoid of actual silver, the aureus became worth more and more relatively speaking. In 301, one gold aureus was worth 833⅓ denarii; by 324, the same aureus was worth 4,350 denarii. In 337, after Constantine converted to the solidus, one solidus was worth 275,000 denarii and finally, by 356, one solidus was worth 4,600,000 denarii. Echos of todays farcical fiat systems perhaps…

Swiss-based producer International Coin House have taken some of the beautiful designs that adorned the ancient Roman coins and incorporated them into some excellent artwork of their own. Featuring the bull symbol of Octavians legions, Venus the Roman goddess of love, and Iustitia the Roman goddess of Justice, the first three silver coins released early last year took a gold printed facsimile of both sides of a Roman aureus and overlaid them onto a 1/2oz 0.9999 silver coin, each depicting contemporary interpretations of the original subjects.

In early 2015 a couple of new designs appeared depicting the standing goddess Fortuna, and Salus, the Roman personification of well-being, the former being dated 2014 and the latter 2015. Each follows the same design brief as the first three coins. Further designs featuring the Roman personification of Victory, and one of the goddess Diana were also released throughout 2015. A 2016-dated Neptune arrived a while ago, and that’s been joined by a latest coin called Moneta. That brings the total number in the range up to nine coins, not including a special called ‘Wheel of Fortune’ that while not strictly part of the series, is clearly inspired by it.

Having seen the first three coins, we can confirm the strike and background design is absolutely first class, but be aware that the images of the first three coins above aren’t quite accurate. The coins appear gilded but they’re in fact gold-printed, we believe with an ink carrying an suspension of gold particles. The finished result is nowhere near as intense and rich as proper gilding. The Fortuna coin image shows a more correct representation of an actual coin. A missed opportunity we think, but one that doesn’t overly detract from what are quite beautifully struck designs.

They’re available with a box, but the dealer has to buy them seperately and as a result we tend to see them sold just in a capsule with the certificate in a bag. We’ve seen one dealer selling the first three coins in a nimbus frame with a custom insert that looks a lot better, but otherwise you’d need to ask your dealer to get the boxes in, we’d imagine.

Mintages are a bit of a wildly varying set of numbers. The Taurus was 777, the Iustitia 3333, the Venus back down to 777, Victoria 999, Fortuna and Salus were back up to 3333, Diana back down to 999, and now the 2016 coins are at a series low of 500. We’re not quite sure what’s going on here, perhaps some are pre-sold to specific bulk buyers in advance, but it’s a bit of a mess to be honest. All the mintages are listed as ‘up to’, so it’s possible that all are quite tight in numbers.

OBVERSE OF REGULAR AUREUS COINS

VARIOUS SPECIFICATIONS
COIN STANDARD 2014 WHEEL 2018 WHEEL
DENOMINATION $1 NEW ZEALAND $1 NEW ZEALAND 10 MKD MACEDONIA
COMPOSITION 0.9999 SILVER 0.9999 SILVER 0.9999 SILVER
WEIGHT 15.5 g 11.8 g 11.8 g
DIAMETER 35.0 mm 35.0 mm 35.0 mm
FINISH PROOF PROOF GILDED
MINTAGE MAX 3,333 (SOME 777) MAX 7,777 MAX 7,000
PACKAGING BOX OPTIONAL YES YES
C.O.A. YES YES YES