Ancient Roman civilization and the history of Roman currency

Identifying Roman coins will be easier for a numismatist if he knows the difference between the Roman Republic and the Roman Empire and the systems of coinage implemented in such periods.

The Roman Republic (509 BC–27 BC) was the ancient civilization in Rome following the republican form of government.  In other words, the people or a part of its people had an impact on its government as opposed to monarchy wherein the head of the state or the monarch holds supreme power.

The Roman Empire (27 BC–AD 476 / 1453), on the other hand, was the succeeding phase of the ancient Roman civilization identified for its autocratic form of government and its control over some territories in Europe and the Mediterranean.

Although at this period Rome was ruled by an emperor (a monarch) enforcing autocracy, Caesar Augustus who was bestowed as first Roman emperor, did not want to associate himself with anything suggestive of monarchy and dictatorship.

Roman Republic coins

The Roman Republic coins began with minting silver coins & cast bronze to be used for commerce and trade with Greek colonies and in Central Italy respectively.

What images to be placed on the currency were decided by "the three men responsible for casting and striking bronze, silver and gold" or the tresviri monetales, also sometimes referred to as the mint magistrates. The trio was composed of young statesmen aspiring for political office.

Roman Republic coin designs would represent the entire Roman state usually bearing the bust of Roma, a female deity of the traditional religion in Rome, on the obverse. 

As time went on, the ancient Roman coins also bore images of the moneyer’s family members who wanted to be elected for a position in the government, making the currency an advertising tool. 

The reverse sides would as well bear images signifying important events such as election or voting scenes, Roman soldiers getting ready for battle, victories of Roman politicians and generals during wars, etc.

For example is the Faustus Cornelius Sulla, AR Denarius minted in the late republic.  Its reverse side featured the image of Sulla, Roman politician and general, seated between Bocchus, King of Mauretania and Jugurtha, King of Numidia both kneeling.  This represents one of the most remarkable events of Sulla’s life – his victory against the two kings.

The main silver coin of the Roman currency for more than 400 years called the denarius, was first introduced in 211 BC still during the republican Rome.

Roman Empire coins

The rise of the Roman Empire consequently marked coinage reforms. Local authorities & colonies were mostly allowed to strike bronze coins but not silver coins.  Only Rome itself was authorized to mint coins made from precious metals like silver and gold. 

The image on the old Roman coins became drastically significant when Julius Caesar (military general and political leader who played vital role in transforming the republic to an empire) issued coins that bore his own portrait.  The Roman Caesar coins were the first in the Roman money that featured the image of a living individual. 

Then on, the Roman Empire currency already featured the portrait of the reigning emperor (often times attempting to make the emperor appear god-like) and embodied the policies that he instituted during his rule.

Apart from the image of the reigning emperor, the coins may also feature the portrait of the predecessors, successors, and other family members.  To add, the legitimacy of an heir’s succession to the throne is only acknowledged when there were coins issued bearing his image.

For these reasons, it was inevitable that the Romans attached high regard and value for the images etched on their coin money.

Roman Republican currency and Roman Imperatorial coinage

Many coins from the ancient Roman civilization are either unnamed or unknown. It is also important to note that there were types of coins used both in the Roman Republic and Empire especially during the transition years.

Here are a few named pieces in the history of Roman coins. Some of these were given names only in later time during their discovery.

Other highlights of Roman coinage history

•    As is an old Roman coin money originally made from bronze and later from copper. It was introduced in the year 280 BC.  As is also the base unit of Roman coinage with fractions bes (2/3 of an as), semis (1/2), quincunx (5/12), triens (1/3), quadrans (1/4), sextans (1/6), uncia (1/12), and semuncia (1/24).

•    The Roman coins denarius (plural denarii), was a main imperatorial coin in the working class and the most common piece produced having existed in the Roman currency for more than four centuries.
 
It was a silver ancient Roman coin which at first weighed 4.5 grams then was reduced to 3.9 grams. In the middle of the 3rd century, it was replaced by the antoninianus which was believed to be worth 2 denarii.

•    The aureus was an ancient Roman gold coin about the size of a denarius but heavier due to its gold content.

The aureus was never in everyday circulation but were used by administrators, bankers, or rich merchants.

Because it was prone to wear when handled frequently and gold being difficult to find and mine in those times, the aureus gold Roman coins were often melted down and recycled.

The aureus was replaced with solidus around 300 AD by the emperor Constantine.