Discover the historical ties connecting Luxembourg, the Roman Empire, and Italy: a journey through coins, migrations, and ancient traditions.

2025 began with excitement for Luxembourg. Alongside the much-discussed abdication of Grand Duke Henri in favour of Crown Prince Guillaume, scheduled for 3rd October, another story has been captivating historians, archaeologists, and coin collectors: the extraordinary discovery of ancient Roman gold coins in Holzthum, Luxembourg.

Unearthed from a site littered with decades-old unexploded ordnance, the excavation was as perilous as it was historic. Army bomb disposal teams carefully cleared the area before archaeologists could safely access the Roman coin collection, which had been buried for centuries and likely hidden during times of conflict. When recovered, the coins emerged intact, glittering, and rich in historical significance. Minted between 364 and 408 AD, these late-Roman gold coins reveal tales of political upheaval, shifting empires, and far-reaching trade networks. While individual coins can reach tens of thousands of pounds on the collector market, their provenance, history, and story are priceless to enthusiasts.

The Holzthum Discovery: A Numismatic Gem

The collection comprises 141 Roman gold coins, struck under multiple emperors, including the controversial Flavius Eugenius (393–394 AD). Eugenius, a usurper appointed by General Arbogast, is chiefly remembered for his defeat at the Battle of the Frigidus by Emperor Theodosius I - a pivotal clash that accelerated the decline of the Western Roman Empire.

For collectors, this assemblage is exceptional. Hidden for centuries, it provides rare insight into Eugenius’ short reign and the late-Roman monetary system. Beyond historical intrigue, the coins carry substantial market value, with individual pieces attracting attention in high-end numismatic markets. Yet for true enthusiasts, it is the story behind the coins - their concealment, journey through time, and eventual rediscovery that makes them invaluable.

Luxembourg and France: A Shared Roman Heritage

The find also highlights Luxembourg and France’s intertwined Roman past. At the end of the 4th century, Luxembourg formed part of Gallia Belgica, a province that stretched across eastern France. These coins reveal economic and cultural networks spanning the region - from Lyon, the capital of the Gauls, to the arenas of Nîmes and Orange, which remain famous historical sites today.

Far from mere symbols of wealth, these gold coins were active tools of commerce, diplomacy, and imperial authority, circulating alongside trade in precious metals, luxury goods, and essential commodities. The late-Roman monetary economy clearly transcended borders, a reminder of Luxembourg’s long-standing role as a hub of European exchange.

Even today, this legacy endures. French nationals are drawn to Luxembourg by its thriving economy, generous social protections, and high quality of life. Migration between the two countries has deep roots: in 1880, around 40,000 Luxembourgers moved to France, while today French nationals make up 14.8% of Luxembourg’s immigrant population, contributing to a modern, cross-border cultural and economic exchange.

Why Numismatists Are Jubilant

The Holzthum discovery is more than a historical curiosity - it is a coin collector’s dream. Each gold coin from the Roman Empire offers:

• Historical significance: A direct link to Eugenius’ brief reign and late-Roman politics.
• Rarity and uniqueness: A small, long-hidden collection with distinctive minting variations.
• Investment potential: Roman gold coins combine heritage with tangible market value, often trading for tens of thousands of pounds.

For collectors, discoveries like Holzthum spark curiosity, education, and opportunity. The combination of danger, drama, and treasure makes this story irresistible - a chance to connect with history while exploring the enduring appeal, story, and value of ancient Roman coins.