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Roman adoption of metallic commodity money was a late development in monetary history. Bullion bars and ingots were used as money in Mesopotamia since the 7th millennium BC; and Greeks in Asia Minor had pioneered the use of coinage (which they employed in addition to other more primitive, monetary mediums of exchange) as early as the 7th ...
Roman peasants who needed money to pay their taxes used an inverted form of this process, by selling the right to a portion of their harvest in the future, in exchange for cash in the present. [15] The sulpicii arose as professional bankers in the first century AD. Among other forms of financial intermediation, they offered financing for ...
Right-facing laureate head of Maximinus Thrax, first emperor of the period of barracks emperors.. Coinage from Maximinus Thrax to Aemilianus is understood as the set of coins issued by Rome during the reigns of more than a dozen emperors of the first part of the period called military anarchy, succeeding Severus Alexander (last of the Severan dynasty), from 235 to 253: Maximinus Thrax (235 ...
In ancient Rome there were a variety of officials tasked with banking. These were the argentarii, mensarii, coactores, and nummulari.The argentarii were money changers.The role of the mensarii was to help people through economic hardships, the coactores were hired to collect money and give it to their employer, and the nummulari minted and tested currency.
By derivation, it was also the name of a bronze coin valued at 1 ⁄ 12 of an as made during the Roman Republic. [1] The uncia started as a Roman-Oscan weight of 22.75 grams for a 273 gram pound, with Attic weight issues of about 27 grams under the libral standard for a 327 gram pound and was produced occasionally towards the beginning of Roman cast bronze coinage.
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.
Nero as. Following the coinage reform of Augustus in 23 BC, the as was struck in reddish pure copper (instead of bronze), and the sestertius or 'two-and-a-halfer' (originally 2.5 asses, but now four asses) and the dupondius (2 asses) were produced in a golden-colored alloy of bronze known by numismatists as orichalcum.
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