Crises Flashcards
Impact a crisis could have, Punic Wars for Rome, Emergency coinages, counter measures as a result of crisis.
What were the two major Roman imperial monetary crises?
2nd Punic War
3rd century CE
What was the root cause of the Roman crisis in 3rd cent CE?
fiscal inadequacy of the imperial state
When did the 2nd Punic War occur?
218-201 BCE
What was R monetary system pre-2nd P War?
bronze aes grave series
silver didrachm/quadrigatus series
What happened to Roman coinage during the 2nd P War?
Initially, debasement of bronze coinage, then CRUCIALLY, debasement of silver coinage
What was average silver content of didrachm/quadrigatus pre-denarius system?
72%
By how much had the bronze coins pre-denarius declined in weight?
half
Typology of R didrachm/quadrigatus?
Obv: Janiform head of Dioscuri; dots bordering.
Rev: Jupiter, thunderbolt and sceptre in hands, in quadriga driven by Victory; below, ROMA incuse on tablet legend.
Terminus ante quem for denarius system intro?
211 BCE
What value system did the silver denarius denominations follow?
as valuation
What were the FOUR silver denoms introd in denarius system? Their as value?
denarius, 10 asses
quinarius, 5 asses
Sestertius, 2.5 asses
victoriatus, unknown
What was average range of purity for new silver coins in denarius system?
97-99% Au
What measure was put in place with new denarius system to bring in more control of coin values?
value marks indicating how much coin was worth in asses
What did denarius look like when introd?
Obv: helmeted head of Roma r.; to left, value mark of X; bordering by dots
Rev: Dioscuri on horsback galloping r.; below, ROMA legend; line border
What did quinarius look like when introd?
Obv: helmeted head of Roma r.; to left, value mark of V; bordering by dots
Rev: Dioscuri on horsback galloping r.; below, ROMA legend; line border
What did sestertius look like when introd?
Obv: helmeted head of Roma r.; to left, value mark of IIS; bordering by dots
Rev: Dioscuri on horsback galloping r.; below, ROMA legend; line border
What did Victoriatus look like?
Obv: laureate head of Jupiter r.; dotted border.
Rev: Victory crowning trophy; below, incuse ROMA legend.
In what ways was the victoriatus unusual in denarius system? (5)
v greek typology
no value mark
lower silver content
minted for only 40 years
wasn’t part of the fixed rate system
What was average purity of the victoriatus?
65-72% Ag
What were the THREE gold denoms’ values?
60-as
40-as
20-as
What did gold 60-as piece look like when introd?
Obv: Head of bearded Mars in corinthinan helmet r.; to left, value mark of LX; dotted border.
Rev: eagle on thunderbolt r.
What did gold 40-as piece look like when introd?
Obv: Head of bearded Mars in corinthina helmet r.; to left, value mark of XL; dotted border.
Rev: eagle on thunderbolt r.
What did gold 20-as piece look like when introd?
Obv: Head of bearded Mars in corinthina helmet r.; to left, value mark of XX; dotted border.
Rev: eagle on thunderbolt r.
What is a roman libra?
‘roman pound’ equivalent to 328.9g
What was the sextanal standard for bronze coinages introd with denarius?
as was equal to 1/6 of libra
Why were the bronze coins introd with denarius system unsuccessful?
Their weight declined very quickly
Why was the roman monetary system essentially bimetallic in 2nd cent BCE?
bronze coinage had decline to the point of disuse so only silver and gold issues continued
Why were Dioscuri incl on denarius coinage?
symbolic protectors of Rome
What were the changes to reverse type of denarius system silver coinages and when?
Luna in biga introd. as a reverse type c170 BCE
Victory replaces Luna in biga, poss associated with success of Rs in Med Wars 150s BCE
Bigae and quadrigae changing in charioteer and animals drawing it in140s and 130s
What changes occur to denarius system silver coinages over 2nd century in general?
marks of individuals like name legends
From c100 CE, what was the continual stimulus in coin debasement?
high expenditure of empire
Why was the fiscal balance of R empire inadequate in CE centuries?
expenditure on military campaigns etc exceeded the money available to spend
What were the key monetary problems running up to 3rd cent CE?
decreasing weights and debasement
What were the 3 main monetary problems of 3rd cent?
debasement
multiplicity of mints and decentralisation
end of base coinage
Why did number of mints and monetary decentralisation increase for Rome in 3rd cent?
need to pay for campaigns meant mints had to be set up where the soldiers were
What coinage was introd early in 3rd cent? When precisely?
Antoninianus/Radiate
215 CE
First main AD crisis? What happened?
AD 33
coin shortages and property price collapse
Key year of monetary crisis under Nero? What happened?
AD 64
reform, debasement, reduced weight
When and what was Domitian’s reform attempt?
82 CE
Restore silver coinage back to purity
When did minting of the denarius stop? The aes?
240 CE
270 CE
What is a possible explanation for end of aes in 3rd cent?
increase in prices
When and what was Trajan Decius’ attempt at bronze coin restoration?
249-51CE
minted sestercii and semistes (unprecedented)
When and what was Postumus’ attempt at bronze coin restoration in Gallic Empire?
260-2 CE
minted sestercii and double sestercii
What did gold content drop below for first time in 3rd century? When precisely?
90%
253-70 CE
Under which two emperors was stability restored for precious metal coinage?
Aurelian and Diocletian
What were the motivations for monetary reform in late 3rd cent CE?
desire to return to previous economic standards and coinage driven by imperial conservative values
When was Aurelian’s monetary reform?
AD 274
When was Diocletian’s Price Edict? What did it do?
301 CE
-maximum prices set for articles of trade and
services
-traders shall not buy in localities where prices are
low and transport and sell the goods elsewhere at the maximum price
-penalty for violation of law is death
-same penalty applies to him who purchases at an illegally high price, and to him who hoards goods and refuses to put them on the market at legal price
Period of Diocletian’s monetary reforms?
286-AD 301 CE
Diocletian’s nummus introduction
293-6 CE
When did Sparta settle a garrison at Decelea? What was the impact on Ath coinage?
413
cut off Athens from silver mines at Laurium
When were Athens’ emergency gold and bronze coinages started? Why?
406/5
Silver resources had depleted to such a great degree yet there was still a very high demand for state payments in coin
Other than limits in access to Laurium, what else meant Ath revenue declined pre-emergency coinage?
Revolts of tributary allies that meant these sources of income were lost or at least interrupted
Why specifically was a BRONZE (ie base metal) coinage introd by Athens?
To preserve the precious metals for overseas, likely military, payments
From where was Ath gold sourced for its coinage?
7 statues of Nike on Acropolis
What was more common in Greek crises than debasement?
reduction in weight standard
When and why did Sicilian cities mint an emergency gold coinage?
c.400 BCE after Carthiginian invasion in 406/5 BCE
When and why did Melos undergo a period of intense minting?
c.420 (just before 416)
Anticipated an attack from Athens.
Why was coinage impacted in antiquity when warfare occurred?
Expenses of war were massive
What is in the nature of Greek coinage that means major events effected it noticeably?
it was generally minted on an occasional basis rather than regularly (e.g. yearly)
When and why was their an intense period of minting of pegasi by Corinth and its allies?
430s
Corinth, with assistance from allies incl Ambracia, were engaging in conflicts that were quite expensive - naval
When and why did the Chalcidian League have exceptionally intense period of minting?
c348 BCE
Seemingly in anticipation of attack by Philip II on Olynthos
What happened to Syracusan coinage after Athens’ sicilian disaster?
The denominations were larger and typology more impressive
likely a result of the booty they got from Athens
What are two pieces of evidence as to the source of Athens’ emergency gold?
Inventories showing items disappearing around this time
Frogs (arist) has ref to nike being used for precious metal
What were the types for Ath emergency gold coins?
Obv: head of Athena r.
Rev: owl/owls on branch heads facing; between, olive sprig.
**same as silv coins
When does silver begin to be minted again by Athens?
Rather unclear, ‘one of biggest mysteries in Ath numismatics’
evidence comes from early 4th cent
What does Timotheos aim to do in his major campaign for athens and when?
Take Amphipolis
366/5
What went wrong for Timotheos and what happened after?
Olynthus, major Chalcidice power, prevented him from advancing to Amph.
364-2 Seige of Olynthus
Why did Timotheus result to bronze coinage?
ran out of silver but his soldiers needed money to pay for their own supplies
What are the 2 main points found in studying Polaeynus’ lit evidence and Timotheus’ coins themselves?
Co-operation between Timotheus and Perdiccas III, possibly to the extent that the king approved of the coinage and thus made it valued tender in marketplaces.
They were bronze coins circulating at an inflated value, likely equivalents to Macedonian silver denominations.
What was the unprecedented (for Ath) characteristic of Timotheos coinage?
bronze coinage FOR PAYMENT OF TROOPS - would have been useless elsewhere
What are the problems with Polyaenus as a source in general thus causing distrust as source for Timotheus coins?
As an historical sources his chronology is messy and his accounts of multiple events have errors and misunderstandings
When and why did Athens remint a load of silver coins into new owls? What characterises them? (4)
353 BCE, likely to improve state revenue (in reminting fees and fines for demonetized coins) to boost efforts in social war.
misshapen flans, clear folding in production, lowering of AθE,
new ‘pi-style’ config
What could have been the purpose of the various departures on Timotheus’ coinage in iconography from Athenian patterns?
distinguish them from the usual series from the pov of the Ath state
