 The specific epithet ""antiquus"" was coined by the authors possibly from the Latin for "old" in reference to the age of the specimen.When published, "Palaeoagaracites antiquus" was the fifth species of agaric fungus to be described, and the oldest.The three species "Aureofungus yaniguaensis", "Coprinites dominicana" and "Protomycena electra" are known from the Burdigalian amber mines of the Dominican Republic, while the fourth species "Archaeomarasmius leggeti" is from the slightly younger Turonian age New Jersey Amber.