Byzantine Follis Coins: Big History, Small Price

Byzantine follis coins on a dark surface
Collector's Guide

Byzantine Follis Coins: Big History, Small Price

Byzantine Empire AD 491–1453 Kinzer Coins

There are few coins that capture the transition from the ancient Roman world into the medieval era quite like the Byzantine follis.

Large, bold, and often surprisingly affordable, these coins offer something rare in ancient collecting: clarity, history, and accessibility all in one.

If you've ever wanted to hold a coin that feels substantial, tells a clear story, and still fits within a beginner budget, the Byzantine follis is one of the best places to start.

The Origin: Reform and Stability

The story of the follis begins under Anastasius I (r. 491–518 AD), one of the most important yet often overlooked emperors in monetary history.

Before his reign, the bronze coinage system of the Eastern Roman (Byzantine) Empire was disorganized and inconsistent. Anastasius changed that completely.

He introduced a reformed bronze currency system, anchored by the follis — a large denomination coin clearly marked with its value using Greek numerals. The most common is the large "M", representing 40 nummi. For the first time in centuries, everyday coinage became standardized, understandable, and widely usable.

This reform laid the foundation for Byzantine commerce for generations.

The Golden Age of the Follis: Big, Bold, and Beautiful

Under emperors like Justinian I (r. 527–565 AD), the follis reached its peak. These early Byzantine folles are exactly what collectors love: large flans, bold portraits, clear denomination marks, strong historical presence.

Early Period
30–40mm+
15–25+ grams — substantial coins, closer in feel to a medallion than small change
Later Period
20–30mm
5–12 grams or less — smaller, cruder, lighter as economic pressure mounted

Justinian's folles are especially appealing because they were struck across a vast empire, at multiple mints, during a time when Byzantium was actively reclaiming former Roman territories.

When you hold one, it feels like history.

Decline Over Time: Shrinking Coins, Changing Empire

Much like what happened in the Western Roman Empire, Byzantine bronze coinage did not remain at this high standard forever.

Over the centuries, coins gradually became smaller, weights declined, and strikes became cruder and less refined. By the later Byzantine period, folles often appear irregular in shape, lighter in weight, and more abstract in design.

This wasn't random — it reflects economic pressure, changing monetary needs, and a shifting and often struggling empire.

You can literally see the empire changing in your hand.

A Collector's Dream: More Than Just Emperors

Byzantine folles aren't just collectible because of the rulers on them — although building a set by emperor is absolutely possible. What makes them truly special is how many different ways you can collect them.

01
By Emperor
Dynasty building — from early reformers like Anastasius to expansion-era rulers like Justinian to later, more turbulent reigns
02
By Year
Many folles include regnal years — meaning you can collect year-by-year within a single reign. Year 1, Year 2, Year 10, Year 20. Each coin becomes a timestamp
03
By Mint
Under Justinian alone: Constantinople, Antioch, Alexandria, Thessalonica. Each mint has its own style, markings, and historical context

Why They Remain So Affordable

Despite all of this — size, history, collectability — Byzantine folles remain one of the most affordable areas of ancient coin collecting.

  • Large quantities were produced
  • Many survive today
  • Bronze keeps prices accessible compared to gold or silver
You can build meaningful, structured collections — by emperor, by year, by mint — without needing a massive budget. This is one of the strongest opportunities in the entire hobby.

Why Byzantine Folles Deserve More Attention

Byzantine coins often sit in the shadow of earlier Roman and Greek issues. They don't always get the same attention — or the same prices.

But that's exactly what makes them so appealing. They offer clear historical progression, large satisfying coins, multiple collecting strategies, and a deep connection to a transforming world.

Final Thought

Byzantine folles are, in many ways, one of the most underrated areas of ancient coin collecting. They are undervalued, underappreciated, and incredibly rewarding to study and collect.

If you're looking for a place to start — or a new direction to explore — this is one of the strongest opportunities in the entire hobby.

A coin you can hold. A system you can understand. A collection you can build.

Start Your Collection

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