Roman Empire – Caligula (AD 37–41) Silver Denarius – NGC Choice Fine

Struck during the short but infamous reign of Gaius Caesar, better known to history as Caligula, this silver denarius stands as one of the most evocative relics of early Imperial Rome. Caligula succeeded his great-uncle Tiberius in AD 37 amid popular acclaim, but his rule quickly descended into tyranny and excess. His assassination after only four years on the throne ended the Julio-Claudian dynasty’s aura of stability and set the stage for renewed political chaos. Surviving coins from his reign are scarce, especially those in such well-preserved condition, as his coinage was systematically melted or withdrawn following his death.

The obverse features a finely modeled portrait of Caligula facing right, with a dignified yet youthful expression. His legend, C CAESAR AVG GERM P M TR POT, proclaims him “Caesar Augustus Germanicus, Pontifex Maximus, holder of tribunician power.” The reverse depicts a radiate head of either Tiberius or the deified Augustus, accompanied by stars—a celestial tribute linking Caligula to Rome’s deified founders and asserting his divine lineage. The composition is elegant in its restraint, illustrating the propaganda of legitimacy and continuity that underpinned his early coinage.

Weighing 3.72 grams of high-purity silver, this example is remarkably well-struck, earning a perfect 5/5 Strike from NGC. The surfaces are smooth and attractive with natural cabinet toning, and legends remain full and clear around both portraits. Its preservation far exceeds that of typical specimens from this short-lived reign, many of which survive only in heavily worn or corroded condition. The visual balance and artistry on this piece capture the early Imperial portraiture tradition at its height.

Both historically significant and numismatically scarce, this denarius encapsulates the intrigue, ambition, and tragedy of one of Rome’s most notorious rulers. Few ancient coins bring the early Empire to life as vividly as this handsome and well-preserved example.

The coin pictured is the exact coin you will receive.