DOI Page / Citation link:
https://doi.org/10.11588/diglit.49262#0067
ch. ii] THE COIN AS A MEDIUM OF EXCHANGE
47
before the end of the fourth century, the effective weight of
the as was io oz. (Fig. n). The Roman colony of Luceria (in
Apulia), which was founded in 314 b. c., issued its first coins on
the standard of 10 oz. Between this date and 268 b. c. the
standard sinks rapidly, pausing, as it were, for a while, although
without definite legal recognition, at 7-! oz., about the turn
of the century. By 268 b. c. the as weighed from 3 to 2 oz.
In this year1 2 the silver coinage was introduced. The earliest
silver of the highest denomination (denarius) weighs 4 63 g.
to 4-45 g. (Pl. XI. 8), and the normal weight was 4 scruples
or of the pound (4-55 g.). The quinarius (Pl. XI. n)
similarly weighed normally 2 scruples ; the sestertius (Pl. XI. 10)
1 scruple. These denominations bear marks of value :—
X =10 asses,
V =5 asses,
11 S = 2} asses.
The as in terms of which the value of these coins is expressed
is not the old libral, but the new sextantai as. The ratio
between silver and bronze shown by this system is 120 :1. So
low had silver fallen from the time when the scripulum (2^8 ^·)
of silver was the equivalent of the pound of bronze.
Besides the three silver coins mentioned, the victoriatus
(Pl. XI. 12) was also issued in or soon after 268. This coin
was struck at a normal weight of 3 scruples (g denarius) or
3-41 g· Together with it appeared its half (with the mark
of denomination S) and its double (a rare coin). The absence
of marks of value showing the worth of these coins in asses
may be explained by the statements of ancient authors that
the victoriatus was treated loco mercis3.
Between 268 and 241 b. c. silver of the standard described
and bronze of the sextantai standard were issued by the same
moneyers. The stress of the First Punic War caused a fall
in the weight of the denarius, which, probably about the
1 The system in which the as weighed but 2 oz. (the weight of the old
sextans} is known as the sextantai system.
2 The law introducing the silver coinage may have been introduced in
269, the coinage itself in 268. This would explain the discrepancy in the
dates given by ancient authorities (Hultsch, p. 267).
3 It was indeed struck to meet the demand of a trade with Northern
Greece.
47
before the end of the fourth century, the effective weight of
the as was io oz. (Fig. n). The Roman colony of Luceria (in
Apulia), which was founded in 314 b. c., issued its first coins on
the standard of 10 oz. Between this date and 268 b. c. the
standard sinks rapidly, pausing, as it were, for a while, although
without definite legal recognition, at 7-! oz., about the turn
of the century. By 268 b. c. the as weighed from 3 to 2 oz.
In this year1 2 the silver coinage was introduced. The earliest
silver of the highest denomination (denarius) weighs 4 63 g.
to 4-45 g. (Pl. XI. 8), and the normal weight was 4 scruples
or of the pound (4-55 g.). The quinarius (Pl. XI. n)
similarly weighed normally 2 scruples ; the sestertius (Pl. XI. 10)
1 scruple. These denominations bear marks of value :—
X =10 asses,
V =5 asses,
11 S = 2} asses.
The as in terms of which the value of these coins is expressed
is not the old libral, but the new sextantai as. The ratio
between silver and bronze shown by this system is 120 :1. So
low had silver fallen from the time when the scripulum (2^8 ^·)
of silver was the equivalent of the pound of bronze.
Besides the three silver coins mentioned, the victoriatus
(Pl. XI. 12) was also issued in or soon after 268. This coin
was struck at a normal weight of 3 scruples (g denarius) or
3-41 g· Together with it appeared its half (with the mark
of denomination S) and its double (a rare coin). The absence
of marks of value showing the worth of these coins in asses
may be explained by the statements of ancient authors that
the victoriatus was treated loco mercis3.
Between 268 and 241 b. c. silver of the standard described
and bronze of the sextantai standard were issued by the same
moneyers. The stress of the First Punic War caused a fall
in the weight of the denarius, which, probably about the
1 The system in which the as weighed but 2 oz. (the weight of the old
sextans} is known as the sextantai system.
2 The law introducing the silver coinage may have been introduced in
269, the coinage itself in 268. This would explain the discrepancy in the
dates given by ancient authorities (Hultsch, p. 267).
3 It was indeed struck to meet the demand of a trade with Northern
Greece.