Ancient Coin Collectors - Circulation of Ancient Roman Coins

Coins struck under Constantine the Great (323-337AD) were still in circulation in remote places of southern France during Napoleon III. (1852-1870).
(FRIEDENSBURG, Die Münze in der Kulturgeschichte, p. 3)

Another instance comes from Spain where a bronze coin of Domitian (81-96AD) was in circulation at least until 1636, when it was countermarked during the monetary reform of Philip IV.
(BLANCHET, "Sur la chronologie établie par les contremarques" 1907)

Coin finds

The ancient author Philostratus (ca. 170-245AD) mentions a hoard of 3000 Persian gold darics found in Antioch, Syria, before 250AD.
In about 1543 the famous treasure of the Dacian king Decebalus was discovered in the streams of the river Streiu in Transylvania. This hoard consisted of over 40000 greek gold coins.

Beginnings of coin collecting

Since the days of the Greeks and Romans, the classical authors such as Pliny or Plutarch, have written about famous art collections. Although not specifically mentioned, these collections probably also included big numbers of coins.

It was customary in Rome, as it also had been in Greece, to present coins as gifts on festive occations, a tradition which Ovid has recorded.
(MÜNSTERBERG, "Über die Anfänge der Numismatik" 1914)

The historian Suetonius (in Augustus 73) records that Emperor Augustus would distribute on the occation of the Saturnalia festivities, among other precious gifts, various unknown foreign coins or coins with portraits of ancient kings:
"...nummos omnis notae, etiam veteres regios et peregrinos."

Interest in old coins was continued by some of Augustus' successors, Titus, Domitian and especially Traian; in fact, the latter reissued some silver and a few gold coins of not only his predecessors, but also of the roman republic. Such restitution coins, marked clearly as such by the addition of the inscription REST[ITUIT], duplicated exactly the design and legend of the original. That is a clear evidence that some sort of collection must have existed.

Pliny is surprised to learn that "spurious methods are objects of study, and a sample of a forged denarius is carefully examined and the aldulterated coin is bought for more than genuine ones."
(Pliny, Natural History XXXIII, XLVI, 132)