Posted on 05/08/2015 7:53:39 AM PDT by Sean_Anthony
Historians agree that some of the Roman military campaigns were motivated by the need to find and control ore reserves required for coinage. Monetary payments were made for a while using un-coined bronze called aes rude and cast bronze ingots called aes signatum.
Rome eventually built its own mint and coined silver denarii and smaller coins of bronze. During Emperor Augustus’ reign, a gold coin called aureus was minted, which could be exchanged into silver denarii. Because the Greeks kept their silver drahms as a basis for their monetary system, money exchangers of various currencies were found in large cities. Constantine introduced the gold solidus as a counter measure to the diminished weight and metal content of coins of the third century A.D.
A treasure trove of Roman coins, imperial aurei and denarii, was found in India, proof of the trade in spices and pearls, but also evidence that Indian merchants were collectors who may have prized the Roman gold and silver coins enough to horde them. According to Strabo, 120 ships “sailed every year to India from the Red Sea” and each cargo was extremely valuable.
(Excerpt) Read more at canadafreepress.com ...
Ancient history ping.
“Constantine introduced the gold solidus as a counter measure to the diminished weight and metal content of coins of the third century A.D.”
Who knew Constantine was the Ron Paul of his day?
Specie!
Thanks Larry Lucido! Looks like a good Digest topic a day early.
That’s the guy from Knott’s Landing!
imho it was Dacian Gold that kept Rome vibrant through the 2nd & 3d centuries about like new world gold kept the spanish vibrant for two centuries. When the gold ran out so did the civilizations.
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