Trajan Coins

Born in Hispania, Trajan was the first emperor from the provinces and is regarded as one of the greatest Roman rulers. He expanded the empire to its maximum territorial extent through the conquest of Dacia and Parthia, while investing heavily in public works and social welfare programmes.

Trajan brought the Roman Empire to its greatest territorial extent and was posthumously honoured by the Senate as Optimus Princeps, the best of rulers. Subsequent emperors measured themselves against his standard, with the Senate wishing each new emperor to be 'luckier than Augustus and better than Trajan.'

Key Events

Coinage

Trajan's coinage is prolific, reflecting his military conquests and ambitious building programmes. The Dacian War types and the famous Column sestertii are highly prized. Dacian gold substantially improved the fineness of his aurei, and his portrait is among the most recognizable in the Roman series.

Collecting Guide

Trajan's coinage divides naturally into three phases that mirror his reign: the early consolidation period (98–101 AD), the Dacian Wars (101–106 AD), and the expansionist years (107–117 AD). The Dacian War commemoratives are the centrepiece of any Trajan collection, the DAC CAP denarius showing a mourning captive is affordable and instantly recognisable. Common Victory and Virtus denarii from the Rome mint offer an accessible starting point at modest cost. For collectors seeking depth, Trajan's coinage is exclusively from the Rome mint, which simplifies attribution but means variety comes from reverse types rather than mint differences. The 'restored coins' series, where Trajan re-struck earlier emperors' types, is a niche but rewarding area. The standard reference is RIC II, supplemented by Woytek's monograph (2010) for detailed die studies.

Market Overview

Common Trajan denarii (Victory, Virtus types) sell for $80–300 in VF. Dacian War commemorative denarii (DAC CAP, captive types) command $200–500 for well-centred examples. Sestertii in decent condition start around $200 and climb past $1,000 for sharp portraits with smooth patina, Trajan's sestertii are considered among the finest portrait coins of the Roman series. Gold aurei begin at roughly $5,000 for common types and can reach $15,000–40,000 for scarce Parthian campaign issues or superb preservation. Base metal asses and dupondii are affordable at $30–150. The market is liquid with strong demand from both type collectors and portrait enthusiasts.

Related Resources

Further Reading

• Roman Imperial Coinage, Volume II, Harold Mattingly & Edward A. Sydenham
• Coinage in the Roman Economy, 300 B.C. to A.D. 700, Kenneth W. Harl