THE COINAGE OF ANCHIALOS

VII. 3. Modern counterfeits

During the study of the coins included in the research, we found five copies, which proved
to be replicas of ancient coins. These specimens, well-crafted, procured with antique coins
look, ended into private collections in the country and abroad sold by unscrupulous
merchants.
The five replicas here are called modern counterfeits, as they are marketed as antique
Anchialus coins and sold as such.
The coins are made in Bulgaria using authentic die technology. They are sold at prices
from 5 to 20 BGN (for the bronze ones) with a certificate and can be freely exported abroad.
Aged in an appropriate way, these replicas are very close to authentic coins, and can even
trick skilled numismatists.
A precise comparative analysis is carried on of the old replicas dies with those sold freely
on stalls, in monasteries, museums, etc. It proved that they were cut on the same dies. In this
case, this is enough evidence to identify the five specimens (sold at prices between 100 and
300 EUR) as modern counterfeits of Anchialos coins.
As further arguments, we will point out the differences in stylistic, iconographic and
chronologic terms that the comparative analysis between the replicas and the authentic coins
shed light.
The earliest in chronology terms of counterfeit coins (Fig. 6) has the following description:

Avers: AVT KAI OMITIANO ERM EB ; Domitian head, turned left.

Revers: HEM A KMAPTIAOV
AXIAE
N; ship with bulging sails and steering on the stern, floating leftward.
Metric data: diameter 27 mm; weight 11.57 g; ; private collection (pr. coll.)

Until recently, a coin with an identical description was known only in the specialized
works1, but was not properly illustrated. The lack of a personally familiar to him copy of the
Domitian issue forced Strack to include the previously described by von Agostini, Vaillant,
and Mionnet coin in a footnote. Later authors also do not have a personal autopsy on the coin
and owe their information to Strack. A recent coin compliant with the description was offered
for sale in a West European auction house2 and sold for the amount of 200 EUR.

1
Strack 1912, 409 ;Varbanov 2005, 28.
2
In order not to undermine the reputation of these auction houses, we will not mention their names
intentionally.

1
 A century ago Strack noted the mismatch in the chronology of the averse and reverse dies.
Domitian is Emperor from September 14, 81 to September 18, 96, while Appilius Claudius
Martialius, whose name is on the reverse die, was governor of the province Thrace during
161-163.
Archaeological studies prove that the Hellenistic emporium and the newly founded city
are two different settlements3. The first one existed during Domitian time, but no issued no
coins, while the second one was founded by the Emperor Trajan (98-117) and cut coins from
the reign of Hadrian (117-138) to Gordian III with Tranquilina (244).
We think that there are two possible logical explanations for a description of an Anchialos
coin with such a significant discrepancy in the chronology of the averse and reverse dies to
appear in the numismatic catalogues three centuries ago. The first is the incorrect reading of
the legends of the authentic coin, and the second is the existence at that time (17th century) of
a late medieval counterfeit (author interpretation), similar to the Galba medal described
earlier.
Which one is the more likely explanation at present, it is difficult to say, as there is only
one description without a correct drawing or photograph in the catalogues.
As mentioned above, a recent coin corresponding to the mysterious description appeared at
an auction in Western Europe and was sold for 200 EUR to a Bulgarian with initials E.P.
living in Vienna. It turned out that the coin is a contemporary replica, produced as a souvenir
and officially sold with a certificate in Bulgaria. This Bulgarian citizen, obviously failed to
identify ancient coins from contemporary replicas, is another beginner numismatist who paid
200 EUR for a souvenir, which he could buy legally in Bulgaria for only 5 BGN if he had
consulted specialists in antique numismatics.
The second of the counterfeit coins (Fig.7), which we will discuss, is described below:

Avers: AV KAI AVPKOMOOC ; Commodus bust with armor and draped garment,
rightward.
Revers: AXIA
EN; boar, rightward.
Metric data: diameter 18 mm; weight 5 g; ; pr. coll.

This coin was published a few years ago in popular publications4 dedicated to Anchialos
coinage.
The precise comparative analysis of the coin dies proves that the published coin is a replica
of the series of souvenirs produced and sold in Bulgaria freely with a certificate 5. Here we
want to make it clear that the iconography of the reverse die is design idea of the replica
maker.
The third of the coins included in the study (Fig.7a) is of the same type and denomination.
The replica was offered and sold at an auction in Western Europe as an authentic Anchialos
coin.
3
Ref. Chapter I.
4
2011, 58.
5
I kindly thank P. Petrov (Petronius) for the courtesy of photographs of the replicas of ancient coins he
is producing.

2
 The fourth coin (Fig. 8) is of the following type:

Avers: AVT MAI INO CEV CEBH A ; bust of Maximinus, rightward.

Revers: OVIANNAXIAE
N; ship with bulging sails, floating rightward.
Metric data: diameter 28 mm; weight 13.84 g; ; pr. coll.

The coin was auctioned in Western Europe in 2010. Unlike the previous one, this coin is a
replica of an actual Anchialos coin issued to Maximinus I. This replica is also appropriately
crafted to resemble an ancient coin and then was sold abroad.
The comparative style analysis shows sensitive differences both in the emperor portrait
features and in the presentation of the galley. These deliberate differences indicate that the
purpose of the replica maker is the production and sale of souvenirs (i.e. imitation of antique
coins with the compulsory certificate).
The aged replica, like the previous three, has misled both the auctions experts and the
collectors who bought them.
The last of the coins included in the study (Fig.9) has the following description:

Avers: AVT K M ANT OPIANOC AV CEB

TPANKV
INA ; busts of Gordian III and Tranquilina, facing each other.
Revers: OVIANNAXIAEN ; galley with bulging sails, floating rightward, on
the stern steering, under the sails six rowers.
Metric parameters: 27 mm; 10. 57g; ; pr. coll.

This coin is also a replica of a really existing Anchialos coin, emitted for Gordian III and
the Tranquilina.
In the process of working on Anchialus coinage, we were able to identify twenty-two avers
dies, out of which are cut off the 722 copies for the imperial couple included into the
monograph catalogue. The portraits of Gordian III and Tranquilina, illustrated on the replica
avers, are distinctly different from those of the 22 dies used to cut the authentic coins. Despite
the existing stylistic differences, the aged replica can easily mislead collectors of antique
coins.
The aforementioned fake coin was bought by a collector abroad just recently.
In recent years, the percentage of counterfeit antique coins offered at auctions abroad has
steadily increased. According to statistics from international services, 80% of coins with
Bulgarian origin are modern counterfeits.

3
 Annex
Fig. 6 Fig. 6

aged replica sold for replica sold with

200 EUR in an auction house certificate in Bulgaria

Fig. 7 Fig. 7 Fig. 7b

Counterfeits ending in private replica sold with

collections certificate in Bulgaria

Fig. 8 Fig. 8

aged replica sold in replica sold with

in an auction house certificate in Bulgaria

Fig. 9 Fig. 9

aged replica sold in replica sold with

in an auction house certificate in Bulgaria