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Roman currency for most of Roman history consisted of gold, silver, bronze, orichalcum and copper coinage. [1] From its introduction during the Republic, in the third century BC, through Imperial times, Roman currency saw many changes in form, denomination, and composition. A feature was the inflationary debasement and replacement of coins over ...
Roman bankers disappear from the historical record between 260 AD and the fourth century. [6] Likely because the continued debasement of the currency hurt the economy, creating difficulties for the banking profession. [1] [2] By the mid-fourth century AD, the argentarii and numularii are mentioned again in ancient sources. They had acquired ...
At the beginning of the next century a clear Roman influence on the Greek coinage can be noticed. Both iconography and style of the coins had changed. Greek coinage from this period can be classified as the first instances of Roman provincial currency. [1] There were over 600 provincial mints in the imperial era. [2]
The setup of the banking system under the Empire allowed the exchange of extremely large sums without the physical transfer of coins, which led to fiat money.With no central bank, a professional deposit banker (argentarius, coactor argentarius, or later nummularius) received and held deposits for a fixed or indefinite term and lent money to third parties. [10]
The denarius contained an average 4.5 grams, or 1 ⁄ 72 of a Roman pound, of silver, and was at first tariffed at ten asses, hence its name, which means 'tenner'. It formed the backbone of Roman currency throughout the Roman Republic and the early Empire. [9] The denarius began to undergo slow debasement toward the end of the republican period.
Roman denarius of Julius Caesar, 44 BC Roman sestertius of Nero, c. 54–68 AD Roman aureus of Septimius Severus, c. 193–211 AD The worship of Moneta is recorded by Livy with the temple built in the time of Rome; a temple consecrated to the same goddess was built in the earlier part of the 4th century (perhaps the same temple).
The system thus named as was introduced in ca. 280 BC as a large cast bronze coin during the Roman Republic. The following fractions of the as were also produced: the bes ( 2 ⁄ 3 ), semis ( 1 ⁄ 2 ), quincunx ( 5 ⁄ 12 ), triens ( 1 ⁄ 3 ), quadrans ( 1 ⁄ 4 ), sextans ( 1 ⁄ 6 ), uncia ( 1 ⁄ 12 , also a common weight unit), and ...
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