I notice that reviews here are on the Forum, not the Forum of Augustus. The Forum of Augustus is the piece of land across the street from The Forum—on the other side of Via dei Fori Imperiali. You’ll know that it’s Augustus’ Forum because a statue of Augustus, with his name listed, stands before the ruins of his forum. It is also next to Trajan’s Market, the big brown-brick semi-circle of a building.
The Forum of Augustus is free to tourists, as you can view it by the side of the street. The ruins are well-preserved and you can get a sense of the majesty of the ancient buildings. A beautiful row of columns still stands behind and to the side of the statue of Augustus. So, if you are walking between the Forum and the Victor Emmanuel II Monument, please take the time to pause to view the Forum of Augustus, as well as its neighboring Trajan's Market, Tajan’s Column, and Forum of Nerva. These are all free to view.
Concerning the actual Forum that requires an entrance fee to enter, it isn’t very big. It’s easy to see in roughly an hour. Just be careful with your footing as the paths are serious ankle-twisters! Please take a map of the site so you’ll be able to identify the ruins, or else you may be disappointed and bored. The highlights for me were the arches and also the Curia—former home of the Senate. It’s very dark in there to help preserve the interior. Inside, you’ll find some fantastic mosaic tiled floors and some carvings and wall mosaics. Very nice! It gets stuffy in there, however—very bad air flow.
If you plan on seeing the Coliseum, Palatine Hill & Forum in one day, I'd advise that you visit in the order listed. After seeing the Coliseum, you'll exit behind the Arch of Constantine. Don't go back to the Via dei Fori Imperiali, which you'd likely take to access the Coliseum. Instead, take the road to the left of the Coliseum exit (Via San Gregorio) and go upwards to the lesser known entrance of the Palatine Hill. There should be either no line there or a very tiny one. When you are finished with the Palatine Hill, you can enter the Forum directly without reentering any lines outside. Go down the ankle-twisting original stone path carefully! You'll be facing in the direction of the Coliseum on this path and enter the Forum by the Arch of Titus.
I booked my online reservations through OmniTicket before my trip: the Coliseum, Forum, and Palatine Hill three-in-one ticket. It cost 13.50 Euro per ticket for all three sites and no wait in line. There's no signs or separate entry area for the three-in-one ticket, so just go to the area designated for the Roma Pass, raise up your printed-out ticket, and the guards will let you in.
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