Black Cabinet of Fake and Fantasy Coins

As long as there have been coins, there have been forgers¹. A corollary to this fact is that any collection of sufficient size will contain some fakes. Within the Madison Art Collection we have identified several inauthentic coins in the collection. On this page, we will catalog our “fake” coins along with the rationale for why they are not authentic. We hope this will provide benefit for others when examining their collections.

• Preliminaries: What is a “Fake” Coin?
• “Tetradrachm” of Mende (2024.2.62)
• Paudans of Cavino (2024.1.72) and (2024.1.79)
• Didrachm of Cales (2024.2.5)
• Denarius of Augustus (2024.1.46)

Preliminaries: What is a “Fake” Coin?

What constitutes a “fake” coin? In this discussion, we restrict ourselves to objects intended to pass as authentic coins, which is distinct from artistic imitations from other cultures or coins that are intended as fantasy or artistic pieces. These coins could be issued contemporaneously to pass in the ancient community or manufactured in modern times to pass as expensive collectables.

To provide a definition, we consider an authentic coin to be make of the correct material, conform to the expected weight and diameter for the denomination, and exhibit imagery inline with known examples. Thus, inauthentic coins can be identified as objects with a significant violation/variation of one of these principles. Complicating this discussion, however is that the total mintage of past societies was not known and we still uncovering new coins to this day. A new variant could be a fake or just a newly discovered type!

With the sections below we will provide typological and metallurgical analysis that establishes the status of each coin.

“Tetradrachm” of Mende

First, we have a “Tetradrachm” of Mende. On initial inspection, it might be acceptable as XRF analysis reveals the sample to be 90% silver but then oddities reveal themselves. The weight is 14.7g instead of the expected 17.2g of the Euboic standard and the flan is small with a diameter of 22mm instead of 22-25mm. The imagery does not match for the type. The reverse mill-sail pattern is incorrect for this city-state and aligns more with Acanthus than Mende. Finally, the city ethnic is always spelled “MIN” and not MEN as shown on this coin. Given the large variations between this coin and authentic ones, we presume this to be a modern imitation. Additionally, this coin has been condemned by David Sear.

Modern(?) Fake of Mende "Tetradrachm" (2024.2.62)

Paudans of Cavino

Next, we have two fantasy coins that are Renaissance-era imitations of Roman coins. These so-called “Paduans” were created by Giovanni Cavino with fellow artists and students in Padua in the mid-1500s². Debate is open as to whether these were intentional forgeries or simply artistic challenges. Given the artistic skill involved, these objects are more challenging to debunk. The Caligula “sestertius” is a near perfect copy of a known coin (RIC I² Gaius 40), however, authentic coins do not have the S-C across reverse field as in our example. Similarly, the Claudius “sestertius” has a correct obverse (RIC I² Claudius 115) but the reverse design does not appear until 20 years later in the reign of Vespasian (RIC II².1 Vespasian 206). For additional references see³.

Caligula "Sestertius" (2024.1.72)

Claudius "Sestertius" (2024.1.79)

Didrachm of Cales

The “diadrachm” of Cales below is a clear fourree. Several aspects give the coin away. The coin is underweight at 6.80g instead of the expected 7.3g, and there is light doubling on the obverse. Multiple cracks in the flan can expose the inner copper core. Finally, the coin is revealed as having a copper core via X-ray analysis. Additionally, this coin has been condemned by NGC.

Didrachm of Cales (2024.2.5)

Denarius of Augustus, P. Petronius Turpilianus as moneyer

This “denarius” of Augustus is similarly a clear fourree. Compared to the didrachm of cales, the copper core is easily visible. Additionally, the coin is significantly underweight at 3.33g and X-ray analysis clearly reveals the copper core. Additionally, this coin has been condemned by NGC.

Denarius of Augustus (2024.1.46)