Emulsions of asphaltic materials, such as asphalt or asphalt blends with polymers, in water using copolymeric anionic emulsifiers are disclosed. The copolymeric anionic emulsifiers use ionizable carboxyl groups as their hydrophilic moiety. The emulsions using these copolymeric emulsifiers are stable, allowing them to be used anywhere where asphalt or modified asphalt is used as a sealant, coating, or binder. These emulsions can also be mixed with polymer latices, pigments, fibers, fillers and other additives to impart particular properties specific to the type of application, i.e., pigmented flexible coating compositions, non-sag sealer and sealant compositions, water borne adhesive compositions, etc., for use in construction and industrial fields. These asphalt emulsions have better freeze-thaw stability, higher solids contents, and wider applicability to polymer modified asphalt compositions than prior art emulsions.