From Principate to Dominate: 500 Years of Evolution
Roman imperial coinage evolved dramatically between Augustus (27 BC) and Romulus Augustulus (AD 476). The system transitioned from Republican-style denominations to imperial propaganda, survived economic crises, and was fundamentally reformed multiple times.
Early Principate (27 BC – AD 284)
Augustus → Carinus- Denominations: Aureus (gold), Denarius (silver), Sestertius/As (bronze)
- Key Feature: Imperial portraits, Republican façade
- Mints: Primarily Rome, expanding to Lugdunum, Antioch
- Silver Standard: Denarius at ~95% silver initially
Crisis & Transition (AD 235 – 284)
Maximinus Thrax → Carinus- Dominant Coin: Antoninianus (radiate coin)
- Key Feature: Rapid silver debasement, military themes
- Mints: Network expands across empire
- Crisis: Hyperinflation, reduced weights
Dominate Reforms (AD 284 – 476)
Diocletian → Romulus Augustulus- New System: Solidus (gold), various bronzes
- Key Feature: Standardized mintmarks, Christian symbols
- Mints: Extensive network with clear markings
- Economy: Gold-centered, bronze for daily use
The Silver Debasement Story
Augustus Reform
Denarius: ~95% silver, 3.9g
Nero's Reduction
Denarius: ~90% silver, 3.4g
Caracalla's Antoninianus
~50% silver, 5.1g (double denarius)
Crisis Peak
Antoninianus: ~2% silver, 3.5g
Diocletian Reform
New silver denominations
Collector's Reality Check
Early Imperial: Focus on portrait quality, reverse types, silver content
Crisis Period: Expect billon (low silver), radiates common
Late Empire: Mintmarks critical, Christian symbols appear
Key References: RIC (Roman Imperial Coinage), OCRE online, Wildwinds