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To put an end to the existing monetary disorder to the time, August it launched a substantial reform in the Roman coinage.
One of the most important novelties were the assignment to the senate of the control of the coinage in copper and in oricalco, underlined from it initials her/it "SC" (Senatus Consulto) present in these coins, with the direct control of the emperor of the mintage of coins in gold and silver.
The characteristics of the coins that made part of the system introduced from August they were the followings:
| Metal | Coin | Ratio with the as |
Ratio with the denarius |
Ratio with the libra |
Weight |
|---|---|---|---|---|---|
| Gold | Denarius aureo | 400 | 25 | 1/42 | 7,78g |
| Quinario aureo |
200 |
12,5 |
1/84 | 3,89g | |
| Silver | Denarius argenteo | 16 | 1 | 1/84 | 3,89g |
| Quinario argenteo | 8 | 1/2 | 1/168 | 1,94g | |
| Orichalcum | Sesterzio | 4 | 1/12 | 27,28g | |
| Dupondio | 2 | 1/24 | 13,64g | ||
| Copper | Asse | 1 | 1/30 | 10,90 g | |
| Quadrante | 1/4 | 1/192 | 1,70g |
where the orichalcum is a brass league with a league to the 80% of copper and the 20% of zinc.
The images and the legendes change in comparison to the republican period: the astute one introduces the emperor with his/her titolatura, while the reverse makes reference to its activity or to its virtues.
The strong present devaluation in the empire it made a reform that reduced the value of the coins in gold and silver necessary. Particularly you/he/she was lowered the weight of the golden one, while a copper percentage was introduced in the coinage of the denarius, until then coined in pure silver. The resultant relationships were the followings:
| Metal | Coin | Ratio with the libra |
Weight |
|---|---|---|---|
| Gold | Denarius aureo | 1/45 | 7,27g |
| Quinario aureo | 1/90 | 3,64g | |
| Silver | Denarius argenteo | 1/96 | 3,41g |
| Quinario argenteo | 1/192 | 1,70g | |
| Orichalcum | Sesterzio | 1/12 | 27,28g |
| Dupondio | 1/24 | 13,64g | |
| Copper | Asse | 1/30 | 10,90 g |
| Quadrante | 1/192 | 1,70g |
As it regards the coins of inferior value, the semisse was introduced, soon abandoned, and on the dupondio the iconografia of the head of the emperor was introduced with removed crown (what it recalled the rays of the sun) to the place of the classical crown of laurel, from which the name of radiatus.
The to persist some tied up inflation to the military expenses brought Caracalla in 215 to a new reform, with a relationship among the elements of the new monetary system as brought in chart:
| Metal | Coin | Ratio with the libra |
Weight |
|---|---|---|---|
| Gold | Binione | 1/25 | 13,08g |
| Denarius aureo | 1/50 | 6,50g | |
| Quinario aureo | 1/90 | 3,64g | |
| Silver | Antoniniano | 1/64 | 5,11g |
| Denarius argenteo | 1/96 | 3,41g | |
| Quinario argenteo | 1/192 | 1,70g | |
| Orichalcum | Sesterzio | 1/12 | 27,28g |
| Dupondio | 1/24 | 13,64g | |
| Copper | Asse | 1/30 | 10,90 g |
The innovation most important it was the introduction of a new silver coin called antoniniano, that was worth around 2 moneys. From the point of view of the iconografia, the antoniniano used on the front the head of the emperor with a removed crown.
Other new coin introduced by Caracalla they were the "double golden", said also binioni.
The situation of the issues in the provinces of the Roman empire did more and more him confused, so much that in 240 the bronze coins were withdrawn by the state to be refunded.
In 270 AD emperor Aureliano is proclaimed, that in 274 AD you/he/she launched a reform of the monetary system and the organization of the mints, situated in the whole territory of the empire, with the goal to improve the control on the circulation of the coins. With the territorial reorganization it increased the number of the mints and the shops and the control to make possible on operates him of these he provided to affix on the coin the indication of the value, of the mint and of the shop of origin.
As it regards the antoniniano, a weight establishes him of of 5,1g and a bronze percentage that the denarius had to contain, with a relationship argento:rame of 1:20; this value is marked on the reverse of some coins with the Roman figures XX.I in west and with the Greek figures K Á in the East. This coin, at times call aurelianeo or silvered antoniniano, for the techniques used for leaving in surface the aspect of a silver coin, it continued to be produced up to the monetary reform of Diocleziano.
Also Diocleziano as Aureliano, tried to altogether reform the economic system of the empire.
Within the economic reform, of particular importance was the edict of the prices emanated AD by Diocleziano in 301, that established the maximum price to which some good could be sold:
where
Intervening on the monetary system, this was organized electing the coin basic, as suitable denarius in chart:
| Metal | Coin | Ratio with the denarius |
Ratio with the libra |
Weight |
|---|---|---|---|---|
| Gold | Aureo | 625 | 1/84 | 3,89g |
| Silver | Argenteo | 25 | 1/168 | 1,94g |
| Argentato | Follis | 8 | 1/21 | 15,58g |
| Mezzo follis | 4 | 1/42 | 7,79g | |
| Bronze | Antoniniano | 2 | 1/84 | 3,89 g |
| Denarius | 1 | 1/168 | 1,64g |
As it regards the coins in bronze dressed again by silver foils wisecracks, these you/they were realized with 5 leagues% silver and 95% bronze.
Two new typologies of coins were coined: the follis in silvered bronze
and the silvery one as substitution of the antoniniano.
The emperor Costantino looked for, to the beginnings of the III century, to reorganize the monetary system giving greater importance to the gold with a prestigious coin, the solid, that lasted in Rome up to the V century and you/he/she extended a lot him in the Byzantine east.
The new one settles it founded him on the following values:
| Metallo | Moneta | Rapporto con il solido |
Rapporto con la libra |
Peso |
|---|---|---|---|---|
| Oro | Solido | 1 | 1/72 | 4,54g |
| Semisse | 1/2 | |||
| Triens | 1/3 | |||
| Argento | Miliarense | 1/18 | 1/71 | 4,54g |
| Siliqua | 1/24 | 1/96 | 3,41g | |
| Bronzo | Follis | 1/96 (fino al 330) 1/192 (dopo il 335) |
3,41g 1,70g |
|
| Nummus |
where the new coins were introduced in silver of the siliqua
and of his double, the miliarense
To seguto of the progressive reduction in value of the coins in copper, the pecunia is introduced maiorina, with a double value of the nummo centenionale and correspondent, qundi, to 1/50 of siliqua.
The new one settles it founded him on the following values:
| Metallo | Moneta | Rapporto con il solido |
Diametro | Peso |
|---|---|---|---|---|
| Oro | Solido | 1 | 4,54g | |
| Argento | Miliarense | 1/12 | 4,54g | |
| Siliqua | 1/24 | 3,41g | ||
| Bronzo | Pecunia maiorina | 21-24mm | 5,45g | |
| Nummus centenionalis | 17-20 mm | 2,7g |
