Getting Started with Roman Coins - Monetary Reform of Aurelian in 270-274 AD

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Monetary Reform of Caracalla in 215 AD
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Getting Started with Roman Coins
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Monetary Reform of Diocletian in 295 AD

By the time Aurelian came to power, inflation and debasement had reduced the denominations in production to the Aureus and the Antoninianus, which by this stage was basically bronze with a poor silver wash. Aurelian increased the size and weight of the Antoninianus, and improved the silver wash applied to bronze coins (from 2.5% silver to 4.3%). He also reintroduced the Denarius, Sestertius, the As and the Dupondius, all as bronze coins. You can see the effects of inflation in the value of the Aureus. Previously these were 25 Denarii, but by this stage they are worth 800, and by 348 AD it is believed that an Aureus was worth 4,350 Denarii.

MetalDenominationValue (Denarius)Weight
GoldAureus800Raised from 4.55g to 6.54g
Silver Plated BillonAntoninianus (See notes)2Raised from 3.15 to 3.88 with a better quality silver wash
BillonDenarius12.4g
BronzeSestertius¼18.95g
Dupondius1/811.7g
As1/168.38g

Note: The Antoninianus of Aurelian is sometimes called an Aurelianianus to distinguish it from the one that came before. It’s debatable if it needs a different name.

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