Constantine I Coins: A Collector’s Reference

Every ancient coin collection has a Constantine in it sooner or later. Not by design — by gravity. Thirty-one years on the throne, at least fifteen mints running at peak, and a monetary policy that favored volume over finesse. More of his coins survive than for any other Roman emperor. A common GLORIA EXERCITVS bronze costs $5 at a show; a gold solidus from Nicomedia costs $3,000 at CNG. Between those poles sits one of the most historically rich collecting series in numismatics.

What makes Constantine worth collecting seriously, rather than just accumulating, is the range. His coinage tracks the conversion of an empire — its religion, its geography, its economy — through pocket change. Sol Invictus reverses from Trier in 313 say one thing about where Roman religion stood. A chi-rho labarum from Constantinople in 327 says something very different. Eastern mint marks appear on his coins only after 324, when he defeated Licinius and reunited the empire. The commemorative issues of 330 announce a new capital while nodding to the old one. Each coin is a data point. The cheap ones carry as much information as the expensive ones.

This guide covers what you need to know to attribute, collect, and price Constantinian coinage. The full catalog of 4,096 Constantine I types is available for individual lookups.

A Collector’s History of Constantine I

You don’t need to be a historian to collect these coins. But a handful of dates explain why the coinage looks the way it does, and knowing them prevents misattributions.

Constantine was declared Augustus by the army at Eboracum (York) in July 306, after his father Constantius I died there. What followed was eighteen years of shared power and civil war. A rotating cast of co-emperors — Severus II, Maximian, Maxentius, Licinius — meant that which mints struck coins in Constantine’s name, and what titles appeared on them, changed with each political arrangement.

Three phases matter for your coins.

306–312: Constantine controls Britain, Gaul, and the Rhineland. Coins come from Trier, London, and Lyon. Reverses are overwhelmingly pagan — Sol Invictus standing with a globe dominates. Obverse legends read IMP CONSTANTINVS P F AVG or close variants.

312–324: Maxentius defeated at the Milvian Bridge. Constantine takes Italy, eventually Africa. He and Licinius split the empire east-west. Western mints expand: Rome, Ticinum, Aquileia, Siscia. The Sol types fade. Military and Victory reverses fill the gap — deliberately vague imagery that avoids antagonizing either pagan or Christian constituencies.

324–337: Licinius defeated. Constantine rules alone. Eastern mints come online: Thessalonica, Heraclea, Constantinople, Nicomedia, Cyzicus, Antioch, Alexandria. GLORIA EXERCITVS soldiers-and-standards types dominate. In 330, the VRBS ROMA and CONSTANTINOPOLIS commemoratives mark the new capital’s inauguration.

Establish which of those three blocks your coin belongs to before anything else. The mint mark usually makes it obvious.

Denominations

The denominational system under Constantine is a mess. Numismatists still argue about what to call some of these coins, and the terminology has shifted over decades of scholarship. Here’s what matters when you’re buying.

The main circulating denomination was the follis — sometimes called nummus, depending on which scholar you ask. Diocletian introduced it around 294 at roughly 10 grams with a thin silver wash. By 306, it had already dropped to about 7–8 grams. Under Constantine the decline continued: around 3–4 grams by the mid-310s, and down to 1.5–2.5 grams with negligible silver by the late 320s. The coin shrank, the name stayed.

Modern catalogs sort these declining bronzes by diameter:

• AE1 — over 25mm. Rare for Constantine; mostly early folles from 306–310.
• AE2 — 21–25mm. Early to mid reign.
• AE3 — 17–21mm. The standard. About 90% of Constantinian bronzes on the market.
• AE4 — under 17mm. Late reign reduced issues. Small, often poorly struck on irregular flans.

When a dealer writes “AE3” or “reduced follis” on the tag, they mean the same thing. “Centenionalis” shows up in older references. Same coin, older name. The terminology doesn’t change what’s in front of you.

Gold and Silver

Constantine’s lasting monetary achievement was the solidus: 4.5 grams of high-purity gold, struck at 72 to the Roman pound. He introduced it around 309–312 and standardized it empire-wide after 324. It became the anchor of Mediterranean commerce for seven centuries. On today’s market, common Constantine solidi sell for $2,500–4,500 at auction. Rare types or superb condition push past $15,000.

Silver was more limited. Siliquae (around 3.4 grams in the early standard) and miliarenses (roughly 4.5 grams) exist but turn up far less often. Budget $400 or more for a presentable siliqua, though Constantine I examples are genuinely scarce.

Denomination	Types in catalog
AE2	2,939
Solidus	400
AE3	172
AE1	171
Uncertain Value	127
Roman Medallion	90
Oneandahalf-Solidus	52
Fraction	44
2-Solidus	38
Fourandahalf-Solidus	11
Multiple-Gold	11
Quinarius	9

Mints and Their Marks

Learning to read mint marks is the single most useful attribution skill for Constantinian bronze. Every mint placed a mark in the exergue — the small field below the reverse design — that tells you where the coin was struck.

At peak output, Constantine operated fifteen or more mints simultaneously. Each has its own character. Trier struck sharp, well-centered coins on relatively broad flans — the quality control was noticeably higher than most. London produced a distinctly British style: heavy portraits, slightly rough execution. The eastern mints (Nicomedia, Antioch, Alexandria) tend toward compact flans with tight lettering and a less polished overall finish.

Mint	Types in catalog
Treveri	847
Londinium	516
Arelate	416
Lugdunum	364
Rome	306
Siscia	244
Ticinum	241
Thessalonica	225
Aquileia	165
Constantinople	158
Nicomedia	157
Cyzicus	127
Heraclea Thracica	102
Antiocheia Syria	79
Sirmium	67
Ostia	44
Alexandreia Egypt	38

Reading the exergue

Mint marks follow a rough formula: [officina letter][mint abbreviation]. The officina (workshop) is identified by a letter or numeral, usually first. Marks you’ll encounter regularly:

• PTR, STR, TTR — Trier (Prima, Secunda, Tertia officina)
• PLN, SLN — London
• PLG, SLG — Lyon (Lugdunum)
• RP, RS, RT or PR, SR, TR — Rome
• AQP, AQS — Aquileia
• SIS, ASIS, BSIS — Siscia
• TS, TSA, TSB — Thessalonica
• SMHA, SMHB — Heraclea
• CONS, CONSA — Constantinople
• SMN, SMNA — Nicomedia
• SMKA, SMKB — Cyzicus
• SMANT, SMANTB — Antioch
• SMALA, SMALB — Alexandria

London deserves a note. The mint closed around 325 when Constantine consolidated production after taking the east from Licinius. London Constantines are scarcer than Trier or Rome equivalents and often sell for double the price or more. The PLN or PLON exergue is easy to spot when it survives on the flan.

Types You’ll Find

Constantine’s reverse types changed over time, tracking political events and religious shifts. What follows are the major series you’ll encounter on the market, roughly in chronological order. Not everything — the full list runs to thousands — but these account for the vast majority of available coins.

SOLI INVICTO COMITI (c. 310–318)

“To the companion, the Unconquered Sun.” Sol stands left, raising his right hand, holding a globe. Sometimes a chlamys drapes over his left arm. This is one of the most common Constantinian types and one of the most historically loaded — it dates from years after the Battle of the Milvian Bridge, showing Constantine still publicly aligned with the solar cult. VF examples from a dealer: $15–30. A well-centered Trier piece with traces of silvering can reach $40–70. London mint commands a premium.

AE1 — Londinium

Bust of Constantine I, laureate, cuirassed, right

RIC VI Londinium 121a · 310 AD

VICTORIAE LAETAE PRINC PERP (c. 318–320)

Two Victories holding a shield inscribed VOT / PR over an altar. A transitional series — Sol is gone, nothing explicitly Christian has replaced it. Struck at most western mints. VF from a dealer: $25–50. Underrated relative to other Constantinian types.

Vota types (c. 320–325)

Reverse shows a laurel wreath containing a votive inscription: VOT / XX or VOT / XX / MVLT / XXX, celebrating imperial anniversaries. Clean, geometric designs that strike well because the die engraver had less detail to render. Common as anything in Constantine’s output, but the variety of inscriptions creates a collecting challenge that keeps people interested. $10–30 from dealers, sometimes less at shows.

AE1 — Londinium

Bust of Maximinus Daia laureate, cuirassed, right

RIC VI Londinium 209b · 310 AD-312 AD

GLORIA EXERCITVS — Two Standards (c. 330–335)

The workhorse. Two soldiers flanking two military standards, struck at every mint in enormous quantities. A later variant (c. 335–340) drops to one standard, and the flans shrink again. These are the cheapest Constantinian bronzes on the market — $3–8 at shows, $20–40 for a sharp EF with full legends. Buy a handful from different mints and use them to practice reading exergue marks. No better way to learn.

AE1 — Londinium

Bust of Constantine I, laureate, cuirassed, right

RIC VI Londinium 237 · 310 AD-312 AD

VRBS ROMA and CONSTANTINOPOLIS (c. 330–340)

The twin commemoratives marking Constantinople’s inauguration. VRBS ROMA shows helmeted Roma on the obverse, the she-wolf suckling Romulus and Remus on the reverse, two stars above. CONSTANTINOPOLIS shows the personified city with a scepter; reverse is Victory standing on a ship’s prow.

The she-wolf design on a good strike is one of the best-looking ancient bronzes you can buy for under $30. Average VF: $10–20. A sharply struck piece with full wolf detail and clear stars: $30–60. The crossover appeal to non-specialists pushes prices a touch above what the rarity alone would justify. Collected as a matching pair, the two types are hard to resist.

AE1 — Londinium

Bust of Maximian, laureate, cuirassed, right

RIC VI Londinium 85 · 307 AD

PROVIDENTIAE AVGG / Camp Gate (c. 324–330)

“To the foresight of the emperors.” Reverse: a stylized fortification with turrets, sometimes a star above. Geometric design that reads clearly even on worn coins. Primarily eastern mints post-324. $15–40 from dealers. The variations in turret count, stonework layers, and field marks have their own subcollecting niche.

AE1 — Londinium

Bust of Maximian, laureate, cuirassed, right

RIC VI Londinium 90 · 307 AD

Precious metal types

Most collectors live in the bronzes, and there’s no shame in that. But the gold is worth knowing about. Solidus reverses mirror the bronze designs — Sol, Victories, vota — with the added gravity of being actual money rather than small change. Common solidi in VF run $2,500–4,000 at CNG or Roma Numismatics. Verify the weight (should land near 4.5 grams) and look hard at the die style before committing. Constantine solidi get faked often enough that due diligence is not optional.

Attributing Your Coin

You’ve got a Constantinian bronze on screen and want to pin down exactly what it is. Here’s the fastest route to an answer.

Confirm it’s actually Constantine I. This sounds trivial. It isn’t. Constantine I, Constantine II, Constantius II, Constans, and Delmatius all struck coins that look alike at a glance. The obverse legend separates them:

• IMP CONSTANTINVS P F AVG — early reign
• CONSTANTINVS AVG — mid reign
• IMP CONSTANTINVS MAX AVG — after the Maximus title
• DN CONSTANTINI MAX AVG — late reign, typically vota types

See CONSTANTINVS IVN NOB C? That’s Constantine II as Caesar. Different person.

Check the portrait. Laureate head: standard throughout the reign. Helmeted and cuirassed bust: military context, usually earlier. Rosette-diademed head: after c. 324, when the diadem replaced the laurel wreath. Veiled head: posthumous, struck by his sons after 337.

Read the reverse. The type narrows the date to a few years. Match it against the series listed above. Read the legend letter by letter — visually similar designs can have different legends, and a misread letter sends you to the wrong RIC entry.

Find the mint mark. In the exergue. Usually 2–5 letters. Combined with the reverse type, this gets you to a specific RIC reference number.

Look it up. The printed reference is RIC VII (Bruun, 1966) for 313–337 AD, and RIC VI for earlier issues. Online, OCRE provides free searchable access to the RIC data, and Wildwinds has photo archives organized by RIC number. Or upload a photo to NumisLens Coin Identification — the system covers Constantinian types and can narrow to an exact reference from a photograph.

Building a Collection

Constantine is one of the best entry points into ancient coin collecting. The supply is deep, prices stay low, and the historical content per dollar is hard to beat anywhere in numismatics.

Starting out — under $50

Buy five or six coins from a dealer on VCoins or MA-Shops. Pick common types: GLORIA EXERCITVS, SOLI INVICTO COMITI, a VRBS ROMA. Aim for Fine to VF, from different mints, at $5–10 each. The goal is handling real coins and learning to read legends. Don’t worry about building a coherent set yet.

Getting serious — $200–500

Now you can be choosy. Target VF or better with complete legends and readable mint marks. Pick a theme that gives the collection a spine: one coin from every active mint, a chronological reverse type set, or a single-mint focus. Trier is the classic choice — sharp strikes, well-documented in RIC VII. Individual coins at this level run $15–50.

The premium path

EF bronzes start at $40–80 for common types and reach $200–400 for scarcer issues in outstanding condition. What you’re paying for: silvering intact, sharp portrait detail, complete exergue marks. Buy from the major auction houses — CNG, Roma, Leu, Naville — for proper photography, professional descriptions, and sometimes provenance back to named collections.

Silver enters the picture at $400+ for a siliqua. Gold at $2,500+ for a common solidus.

What condition to target

Late Constantinian bronzes are small coins. Condition makes a bigger visual difference than it does on, say, a sestertius. In VF you get readable legends, clear portrait features, a recognizable reverse. EF shows original surface texture and sometimes remnants of silvering. Below Fine, the coins become featureless brown discs that are hard to identify and not much fun to look at. Don’t buy below Fine unless you’re filling a specific hole in a mint set and the exergue is still readable. Life is too short for coins you can’t read.

Where to buy

VCoins and MA-Shops — vetted professional dealers, fixed prices, return guarantees. The safest starting point.

CNG e-auctions — biweekly sales that always include Constantinian bronze. Roma and Naville e-sales are strong for late Roman material.

eBay — the volume is there but so are the fakes. If you can’t yet tell a genuine coin from a cast copy by look and feel, stick to the professional platforms until you can.

Fakes and Problems

Common bronzes cost too little to be worth counterfeiting. Gold and silver are another matter entirely.

Bronze concerns

Tooling is the main issue. A sharp instrument used to re-cut worn legends or portrait details. Look for scratches that follow letter forms with suspicious precision, or features sharper than the surrounding surface would justify. Price a tooled coin at the grade it would be without the tooling — not the grade the enhancement simulates.

Fake patina: chemical coatings applied to hide cleaning damage or tooling marks. Genuine ancient patina is uneven and accumulates naturally in recesses. Artificial patina is too uniform, sometimes with a waxy feel. Cast copies also circulate — soft details, visible seam lines, wrong weight, porous surface under magnification. If it looks like it came from a mold rather than being struck between dies, it probably did.

Gold: higher stakes

Fake Constantine solidi are a genuine market problem. Workshop-struck counterfeits, primarily from Bulgaria and Turkey, can fool buyers who aren’t paying close attention. Defenses: buy from dealers with return policies, check the weight (a solidus should be close to 4.5 grams — more than 0.2 grams off is a flag), and compare die style to confirmed examples on OCRE and in CNG’s archive. When something feels wrong, walk away.

NGC and PCGS now slab ancient coins. Opinions on slabbing ancients are split, and that argument will outlive us all. But if you’re spending $3,000+ on a single coin, independent authentication has practical value that’s hard to dismiss.

Questions Collectors Ask

Resources

• NumisLens Constantine I Catalog — browse all 4,096 types with images and catalog references.
• NumisLens Coin Identification — upload a photo for attribution of Constantinian types.
• OCRE (Online Coins of the Roman Empire) — searchable RIC database.
• How to Attribute a Roman Coin Using RIC References — step-by-step attribution for any Roman coin.
• Can AI Identify Ancient Coins? — we tested every app.