Archaeologists discover 141 ancient gold coins, some from a little-known Roman emperor

An rare discovery in northern Luxembourg has given historians a fresh glimpse into the final years of the Western Roman Empire. Archaeologists have uncovered a hoard of gold coins dating back to the late fourth and early fifth centuries, buried near the village of Holzthum.

The find includes coins with depictions of nine different emperors, but three coins stand out – each bearing the face of Eugenius, a little-known ruler whose brief reign ended in bloodshed.

A surprising start

The excavation began in 2019 after metal detectorists stumbled upon a single gold coin. The National Institute for Archaeological Research in Luxembourg soon launched an official investigation, which led to a four-year dig.

The site, however, was dangerous. Unexploded ordnance from World War II littered the ground, requiring archaeologists to work with Luxembourg’s Army Bomb Disposal Service. Each step was taken carefully to ensure both safety and preservation.

The hidden wealth of Rome

“This represents a huge amount of personal wealth for the individual or group who collected these coins,” said historian Rebecca Usherwood of Trinity College Dublin. In ancient times, gold coins were not everyday currency. Most citizens would never have held a single solidus, let alone an entire hoard.

Each coin is a solidus, a high-value Roman gold piece first introduced in the fourth century. Solidi were essential for trade, military payments, and political agreements, and they served as both currency and propaganda.

The emperor no one remembers

Among the coins, three bear the image of Eugenius, a short-lived emperor who ruled the Western Roman Empire from 392 to 394 AD. “His coins are especially rare because his time in power was so short,” explained historian Marjanko Pilekić.

Eugenius was an unusual choice for emperor, having started his career as a professor of rhetoric. He was installed as a ruler by military leaders after the suspicious death of Valentinian II, but his reign was never recognized by the Eastern Roman emperor Theodosius I.

A violent battle followed. In 394 AD, Theodosius I crushed Eugenius’ forces at the Battle of Frigidus, which led to the execution of Eugenius. With his defeat, the Western Roman Empire fell further under the control of the East.

Why bury the coins?

The presence of these coins in Luxembourg raises new questions. Some researchers believe they were hidden during a time of crisis.

In the late fourth century, Rome’s hold over its territories was crumbling, and invasions from Germanic tribes made many areas unsafe.

“It’s likely they died before they could recover their treasure,” said Usherwood, suggesting that whoever buried the hoard may have been fleeing or caught in battle.

Similar hidden stashes from this period have been found across Europe, often linked to political instability and war.

A fortress lost to time

The excavation also revealed traces of a burgus, a type of Roman military tower built to guard borders. These structures were crucial to the empire’s defense, especially in regions that were vulnerable to attack.

Finding a hoard like this at a military site suggests it may have belonged to a high-ranking official. Soldiers and officers were often paid in gold solidi, making it possible that this stash was the savings of an elite Roman commander.

The next steps

“This is a major archaeological discovery, as it is extremely rare to be able to study an ancient monetary deposit in its entirety in its archaeological context,” they said in an official statement from the National Institute for Archaeological Research in Luxembourg.

The coins are now being analyzed in a lab, where experts will determine their origin and how they fit into the broader picture of Roman economics and warfare.

Researchers will also look for chemical traces on the coins that could reveal where the gold was mined.

Rewriting history

Every archaeological discovery adds a new piece to the puzzle of the past. This hoard is not just about gold – it’s about power, politics, and survival during one of the most chaotic times in Roman history.

Once studies are complete, these coins will likely be put on public display. Their value, both in money and historical insight, ensures they will not be forgotten.

Details of this discovery were published in the online journal CoinsWeekly.

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