Ancient Roman Money

Roman money, like all systems of currency, evolved over time. What is discussed here is the currency in use before and during the time of Julius Caesar, as that is the money that was known to the characters of the Nomenclator series.

Coinage appears to have been developed independently in three different areas of the world, Lydia (roughly modern Turkey), China, and India, in the 7th and 6th centuries BC and spread to Greece, Persia, and the Balkans in the two centuries that followed.¹ Greek colonization led to the spread of coinage to the lands around the Mediterranean Sea.² Coinage came relatively late to Rome, and the first examples of Roman coins were heavy, cast bronze pieces, first appearing around 300 BC.³ The smaller Greek style bronze coins were produced around the year 300 BC, but were probably produced on behalf of Rome by the Greek colony Neapolis (modern Naples).

The different denominations of coins began to be produced by Rome during the Second Punic War which lasted from 218 to 201 BC. These denominations were actually fractions of the standard as. It was at this time, that silver and sometimes gold coins were produced. With the introduction of standardized coinage, a new magistracy was introduced, called "tres viri aere argento auro flando feriundo" (three men responsible for casting and striking bronze, silver and gold). This committee of three junior magistrates frequently honored their families with portraits of ancestors for political purposes, since it was considered to be too high an honor to put the portrait of a living man on a coin. The mint where the coins were produced was either in or near the temple of Juno Moneta⁴. It is from the Latin moneta that the modern word money is derived.

The main coin in circulation from 211 BC was the silver denarius, which remained the standard for 450 years. The denarius was valued at ten asses and weighed about 4.5 grams, but over the years the weight was slowly reduced to less than four grams. For smaller denominations there were bronze asses and their fractions. There were three gold denominations struck, being worth 60, 40, and 20 asses but these were only minted for a few years. The standard gold aureus would not be seen until it was introduced by the dictator Sulla in 82 BC as a way to collect greater funds for the war against Mithradates VI of Pontus. Later, Julius Caesar minted a large number of aureii in preparation for a war against the Parthians. In the middle of the second century BC, the sestertius replaced the as as the base standard for coinage.

Coins were frequently used as a form of political advertisment with prominent men who wished to be elected to office using their influence to have the portraits of their illustrius ancestors on coins.This was common throughout the republic. From the time of Augustus until the fall of Rome, the coin portraits were most often of the emperor or members of the Imperial family.

Click on the Roman era and see pictures of the coins.

Early Republic 509 - c. 264 BC

Aes Grave Series introduced 290 BC
Denomination	Relative Value
As	12 Uncia
Semis	6 Uncia
Triens	4 Uncia
Quadrans	3 Uncia
Sextans	2 Uncia
Uncia	Base Unit

Mid-Republic c. 264 - c. 101 BC

Denomination	Introduction	Metal	Value
Quadrigatus	c. 270 BC	Silver	15 asses
Denarius	217 - 211 BC	Silver	10 asses
Victoriatus	c. 221 BC	Silver	5 asses
Sestertius	c. 211 BC	Silver	2.5 asses
Dupondius	c 290-280 BC	Bronze	2 asses
As	c. 290-280 BC	Bronze	Base Unit
Semis	c. 290-280 BC	Bronze	1/2 as
Quadrans	c. 290-280 BC	Bronze	1/4 as
Sextans	c. 290-280 BC	Bronze	1/6 as

Late Republic c. 100 - c. 31 BC

Denomination	Introduction	Metal	Value
Aureus	1st Cent. BC	Gold	25 Denarii
Quinarius Aureus	1st Cent. BC	Gold	12.5 Denarii
Denarius	217 - 211 BC	Silver	16 asses
Quinarius	101 BC	Silver	8 asses

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