Roman Money
The first European Monetary Union?
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Coins were already in use in Britain before the Romans invaded, but it was the Romans who first introduced a system of internationally valid coinage. Official coins were imported into Britain, although in the late 3rd century to the early 4th century there was a mint in London. The denominations of the coins changed over time, but in the early Roman empire the coin values were:
1 gold Aureus = 25 Denarii
1 silver Denarius = 4 Sestertii
1 brass Sestertius = 2 Dupondii
1 brass Dupondius = 2 Asses
1 copper Ass = 2 Semisses
1 copper Semis = 2 copper Quadrantes
One purpose of the coins was to relay news and announce victories won by the Roman army throughout the empire. They also were an attempt to inspire confidence with slogans such as 'Roman security', 'good health' and 'virtue'. A famous example is Felix Tempus Reparatia which means 'restoration of good time' or 'happy days are here again'.
Coins had to be mass-produced to satisfy the demands of the people throughout the empire. At the mints where the coins were made, molten metal was poured into moulds, producing a number of blanks at a time. These were then placed between two dies, which were hit with a heavy hammer. Around 20,000 coins could be struck from a single die.
Why do archaeologists think Roman coins are important?
Because coins can be used to date archaeological sites.
Coins show the name of the emperor, so we can find out when they were made. A number of different coins allow us to date the Lightwood hoard.
Because coins can tell us about changing economic and political conditions of the empire.
We can find out who was emperor, and about inflation and the prices of goods
Because we can find out about the circulation of money.
This may tell us where people settled, and the extent of trade and communication in the Roman world
