Zeitschrift für Numismatik, vol. 17 — 1890

1) Code Jast. X, 29 aeris pretia^ quae a provindalihus postuUuUvr^ ita exigi volumus, ut per viginti lihrU aeris aolidtu a possessore reddaiur. This is the law a literal repetition of p. 79 note 3, only for mginH quinque put the lower number in it.

2) Symmach. rel. 29: Vendendü solidU^ quos plerumque puhliau unu er- poscit, coUectariorum corpus obnoxium est, quibus arca vinaria stfUutum pretmm «vfr- minister, Kov. Yalent. XIV: ne unquam intra septem milia fittminortiiii solidus distrahatur, emptus a collectario septem milibus ducentis. See Monunsen, p* 845.

3) Symm. 1. 1. huic hominum generi taxtUtonis exiguae viltttMie nutanti dimu

m

frcUer numinis vestri tanhtm per singulis solidis steUuit conferendum^ quanium aequitas illtus temporis postulabat.

4) Sym. 1. 1. nummularüs pretia mtnora penduntur,

5) Sym. 1. 1. sed paulatim auri enormousitcUe crescente vis remedii divalis m- fracta estf et cum in foro vencUium rerum maiore summa solidus censeatWf nummm^

lariis pretia minora penduntur, petunt igitur de aetemitate vestra per raiione praesemti iusta definitionis augmentOt qui iam tanto oneri sustinendo pares esse non pasnaU,

6) Cod. Theod. XlII, 2, 1: lubemus, ut per argenti summa j quam qmis tke^ sauris fuerat inlaturus^ inferendi auri accipiat faadtatem^ ita ut per singulis Ubris Argenti quinos solidos inferat.

The monetary policy of Diocletian and his successors. 81

to have^); but in 538 it went back to the old sentence - swept *).

When it comes to these messages, it should be noted that where the Fluctuations in the price of gold in numerical values of the two other metals are expressed, the sinking always occurs against copper, rising only against silver shows. So the gold fell steadily against the copper coin But at times even more silver, and there to the money changers the prescribed estimated value of the solidus is of course always in which metal was paid, whichever was cheapest was, they could even when the gold situation was very bad price will still suffer damage, namely if the silver price was even lower.

These price ratios offer us the key to the Meaning of the Nummi, according to which in 445 Yalentinian III. to determine the price of the solidus. If the gold piece In 396 it was still 500 denarii, in 527 only 420 and in the meantime the sinking continued, so must be his Standardization to 7000-7200 Nummi approximately midway between hold those two denarii values. Now, as is well known, that applied Denarius of the earlier imperial period 16 As. Let's assume that This division continued into the fifth century and The approach is that the nummus is the ace Valentinian III to 437^^—450 denarii, which is quite excellent fits.

Since the time of Anastasius appear on the Roman Copper coins place the number symbols for 40, 20, 10 and 5 certain mints also have 16 next to the 20, 8 next to 10, 4 next to

1) Cod. Theod. VIII, 4, 27: Pro singulis libris argentiy quas primtpHares viria spectabüibus ducibus sportulae gratia praestant^ quatemi tolidi praebeantur, ii non ipsi argentum offtrrt sua sponte maluerinU It would also be possible, that this is intended to reduce the sport and the The value of the silver was actually higher.

2) In the Jastinian law stream, p. 80 note 6 is cited The regulation continues to change repeatedly and thus its validity also applies to this recognized in the sixth century.

ZtitMhrift fBr Vomitmaük. XYII. 6

82 0. Seeck:

5'). Most likely these secondary numbers are true, the memory of an older one, through the decimal system to maintain the repressed sixteenth division of the denarius; They therefore confirm to us the continued existence of the old As as the smallest Unit of account to which the law Yalentinians IQ. us has led.

The value symbols CN== are also in the same numbers 250 and PKe=125, which refers to the half and Find Vicrtelsiliquae of Justinus and Justinian. The Miliarense According to Diocletian's decree, it already contained 50 denarii, what According to Anastasius' division, this yields 1000 numbers'). Those small silver coins had to be denominated as quarters and eighths Miliarense actually 250 or equated to 125 numbers become. This is of interest in that it shows that ratio of the silver coin to the denarius, as Diocletian said had created, still existed legally 250 years later. Incidentally, this is also reflected in the significant increase in Copper value, since in the meantime the miliarense itself is from %e was raised to ^Xs dßs silver pound.

Like the Nummus, the Follis was still one unknown size. Let's follow the modern manuals, so there was one gold, one silver and two copper folles, which were all different in value. Now there are the designers the imperial laws and who else in the ancient times of the Follis believes that they have almost never considered it necessary To add a more specific definition to the words, we stand in

1) Mommsen, the foll coins, in Finder and Friedlaender, contributions tsar ancient coinage, p. 123.

2) The testimony of Dardanius probably refers to this division at job. Lyd. de mens. IV, 9: b dt Jagdav^os fy nß mgi ciaS^fimv j($li

The monetary policy of Diocletian and his successors. 83

each individual case is faced with the question of which of those four species is meant. But should this two- or more correctly four- not even contemporaries themselves were confused brought? Whether from a small coin or Hess said that a considerable sum of money was involved easy to recognize from context; but whether a gold pound or only an eighth of the same has to be paid - because This is how gold and silver follicles are supposed to relate to each other have - that could also be the case for those to whom the laws were directed, not be immediately clear. From one Pounds per se are never talked about, but always added man auri, argenti or aeris added: how is it that one in the FoUis not in the same way the obvious ones Prevented misunderstandings? The only possible answer is that the word wasn't as ambiguous as we think it is. are used to taking.

Follis undoubtedly means 1) the sack, 2) a sum of copper money, the amount of which we do not yet know, but which in any case must have been quite attractive, 3) a small copper coin, 4) the senator tax. These four meanings are sure, but they are all of the kind that they are related to the Bede does not allow any confusion. In addition, lets each developing from the other with ease. The money The sum then has its name, that it is placed in a "sack" of a certain size used to pay; the copper coin is the individual piece that can be compared to many others of the same kind filled that “bag*; the senatorial tax was finally paid Folles standardizes and pays. Whether we have other meanings have to accept, will emerge after we have the value of the two copper units that bore the name follis, will have determined.

We start with little Follis. Of this is over- delivers that he has two denarii ') and a twelfth of the siliqua

1) Hultsch I, p. 267, 6: *olUq 6vo Unut xara rov tfrjyaQufftov, Both For metrologists of this time, Unjöy is the usual term for

6*

84 0. Seeck:

was valid^). Let's assume that the number 12 is a later rounding down is for 12^, then these two approaches agree completely. Because the miliarense was standardized at 50 denarii (p. 59), so belong to Siliqua, as his half (p. 68), 25.

In order to determine the ratio of the follis to the copper pound correct, which of course depends on its actual weight by no means covered, we have the following news. From Justinian's accession (627) to the time when Procop wrote his secret history (558), the price of the solidus fell from 210 to 180 folles. As the codification of the Roman Right was completed (538), he was worth 20 pounds of copper (p. 79). We will assume with some probability allowed that this sum is between the value which the Solidus 527, and the one he owned in 558, approximately is in the middle. Under this condition we would gain the most suitable and at the same time simplest relationship, if we equate the 20 pounds of the Codex to 200 folles. Although this can only be seen as a guess at first, it is it is raised to full certainty by the following consideration.

As we have already seen on page 68, the silver follis was valid 125 Miliarensia. Let's calculate this sum according to the above Found equation of 1 miliarense = 50 denarii in small copper foUes, we get 3125. And after the Glossae

Denarius. Christ, denarius and follis from the later Roman Ice Age. Bitzing reportc d. kgl. bair. Ak. d. W^iss. 1865 Vol. I, p. 128. If Hultsch I, pp. 305, 5; 306, 19; 320, 6 of the follis set on 4 dacagut or xodgayrat is, then this is probably synonymous, insofar as the ancient expressions as and quadrans refer to the smallest Eupfer piece of the later period, the Genta nionalis, seem to be applied. The edict sets out accordingly Diocletians reduced the price of a pound of pork to 12 denarii, a set the year 363 (Cod. Theod. XIY 4, 3) at 6 folles. That he is 62 years old received unchanged for a long time is explainable because he does not have the changing remained subject to the changing market conditions, but was legally was regulated and at least in Rome, on which alone the later verdict was based. order, artificially maintained through well-organized supplies became.

1) Mommscn, the foll coins p. 128.

The monetary policy of Dioclctiaus and his successors. §5

nomicae means follis, among other things, a weight of 312!^ pounds*). These numbers behave exactly like 10:1'). From this weight approach we also learn that the silver follis had no independent existence at all, but continued means nothing but the value of the large copper foUis in silver hat expressed.

But how did one come to the latter on one? 80 to fix a strange number like 3125? The explanation for this offers the bill according to Numini; because of these 16 on the Denarius, 32 went to the small follis, so the large one contained exactly 100,000. At the same time, consideration may also be given to a particular comfortable ratio to the gold pound contributed; because 3125 Folles or 125 Miliarcnsia are according to the coin system of 301 an eighth of the same, that is according to today's currency 114.2 marks. Since these numbers are only in that ephemeral coin order with its strict implementation of the decimal system can be inserted, it follows from them that the accounting unity of the great Follis created around the time of the price edict is, which makes it fitting that they first appeared around the year 310 is mentioned (p. 53 note 1).

It is not clear to us anywhere that a Goldfollis existed handed down, but it is based only on a modern combination nation, which is very obvious, but nevertheless deceptive is Gerish. The Glossae nomicae tell us the following: it€Qog di Kktid-eig (fokhg jag tcov d^i>oh)ywTiQ

1) Hultsch I, p. 308, 19: 4*6XXks oia^fAoi iau Xty6/Lt§yo( xal ßalayj^otf £ürM 6f d^yagiovg dutxooiovs rrcvrijxorr«, roviiari UtQui rtß' xitt ovyyias ^'|, lOf Ijifovroc ixttojov dfiyagiov kir^ay a xal ovyylaq y\ If 1'^ pound the Siliqaa correspond, - because this is without a doubt also here with the dtiyuQMy meant (see p. 68) - then this fits your equation perfectly with 12!i FoUes. See Christ p. 125.

2) If further confirmation was needed, one could state that Emperor Honorius (Cod. Theod. IX 3. 7) the Follis - because In any case, this is what is meant here - with a learned name libella, that is called “the tenth, calls.

86 0. Seeck:

xal ^y avv%fiiAa tö XQstttor iv xoXg yiyeat nQog to fiiysvkog %^q ä^i(a(f€U)g diraxQtvofisvov t& noötf, totg for tov nqtatiaxov liXovg 6x1(0 xQvaiov XhQair, toTg di tov dsvriQov tiaaaqsg^ xal ovo %otg tQitotg, (Sg (ffiaiv ^Htxvxiog o IXkovüTQtog 6 (ftXo

1) How should the pound of gold become the name of Follis come? Whether we think of it as being paid in bars or coins, It always forms just a small heap that never forms a “sack”. can fill. Moreover, no one takes such precious ones Coins in the bag, but you count them and believe it sure that they are neither false nor circumcised. You could So at most think about the value of the gold pound in copper; but what a tremendous sack it would have to be, that close to should contain a thousand marks in pfennigs?

2) A law from the year 383 stipulates regarding the Senators: Duorum vero follium maneat cunctos indücreta pro/easio^

1) Hultsch I, pp. 308, 10; the same message in a slightly shorter form also pp. 309, 9.

2) Epist. 255 *Paat d' avroy xai x^QIY^^ hfpfix^M r^g ta fiiynna dana- yvSatig. 6 di ovtf ravTtjy, ov^' tjv dtvjiQay yo/Ai^ttf dvyait ay agac&at' ipaüiy d' ay iog ovdi riiy rgirtjy äytv noyov,

3) C. Th. VI, 4, 21 § 6: Cum duo f olles aut quattttor aut certe ampUtu in profeuione habebunt.

4) Cod. Theod. VI, 2, 8 § 2; 4, 21 § 6.

The monetary policy of Diocletian and his successors. g7

tarnst poasessionem forte non habeanV), XinXidv possessio is here not ownership at all, but only real estate. stand; but for senators who are of every kind were excluded from the advertising, although not those to be the only, yet the main, source of income. Those of them who did not own any property at all had their income come could only be a most modest one, and at the same time- There should probably be a tax of two pounds of gold, i.e. h. 1827 marks, rested on that? This rate is not high, but completely unbearable; that a crazy tyrant has captured him led, would be conceivable, but in any case he would only have a few can last for years. The minimum tax of two FoUes but remained unchanged from Constantine to Theodosius; So it may have been oppressive, but certainly not un- durable.

3) In the year 393 a new minimum set is created, and this is only seven solidi*). Who has ever heard that with a tax reduction you suddenly lose money less than a twentieth of the previous amount would be?')

4) The gloss from which we started almost gives it away in every line that its author grossly misunderstood his source. and the contents of them were created beyond recognition. has provided. It says there that the tax is due on the äl^ioXoY(a%€qo^ »ata noXaig pressed. Now most of them lived in them Cities of the empire also had senators, but the official domicile for them all was Rome or Constantinople. So we would be rely on interpreting the gloss solely from its own perspective tires, we could hardly go into the d^ioXoycijsQot xatd noXsiq something different than the municipal magistrates and decurions see. It is further said that the tax is due to those äl^iokoYdxsQOi

hung up, or* fiv avtoXg tö yiyog ai'dn t^g ä^Kiiastag tetvxflMg.

1) Cod. Theod. VI, 2, 8 § 2.

2) Cod. Theod. VI, 2, 10.

3j Christ a has the same concerns. a. 0. P. 147 pronounced.

gg 0. Seeck:

That the senatorial dignity was inherited from one's fathers is True, of course, but that was certainly not the reason tax, and it also burdened those who did not pay taxes origin, but by imperial appointment to the Senate had reached. Finally it means that they are looking for height of dignity have graduated {nqoq %ö fiiyed-og Tijg ä^ioiasoog dta- xQtvofAsvoy to) noaio). It hardly needs to be said, that no Roman emperor ever made such a foolish decree but that the tax brackets were like that at the time well, like today, only depended on the size of the assets. A source that is almost everywhere we can control it, turns out to be so unreliable, we shouldn't believe it, where it becomes uncontrollable.

. Apparently the levels of 2, 4 and 8 FoUes are quite the same the same Follis that we have gotten to know so far ^). According to the German coin, the amount of the tax is 228, 456 and 913 marks, which is still very significant, but nevertheless is bearable. Also a descent in the minimum set of two Folles on seven solidi, i.e. h. from 228 to 89 marks, is true a very considerable tax relief, but not an incomprehensible one liche. Finally, these sentences also explain the misunderstanding confession of the glossographer. The highest tax of eight folles is, according to Diocletian's calculation, one pound Gold equals. As he twists his source everywhere, so has he here is what he sees as the maximum amount of the follis in The meaning of “Senator Tax” was also given to the Places used where the Follis is used as a calculation unit was talked about, and so it came to its exorbitant tax rates. lasts.

So there were only two types of follis, a small and a big one. Both originally belonged to the copper bill but it is likely that the latter is the case in later times never used to pay out in copper and

1) Christ also reaches this conclusion on p. 148.

The tired policy of Diocletian and his successors. Jg9

As a result, it gradually turns into the largest unit of silver bill transformed.

This was probably the reason why there was between 384 nnd 392 the siliqua of ^j^oo ^^^ V125 of the pound descends- sat. Because since she still remained ^/^so the FoUis, so this would now be valued at exactly twice the silver pound brought (p. 68), while before he had come to him in the very uncomfortable. The ratio was 25:12.

(Conclusion follows.) Greifswald. Otto Seeck.

The payment of the purchase shilling for the Herzogtliuiii EMland iu the Jaliren 1346 and 1347.

Waldemar IV, King of Denmark, sold i. J. 1346 the Grand Master Heinrich Dusemer the Duchy of Ehstland for the sum of 19,000 marks of pure silver coel. Ge- weight; From this purchase shilling the king receives 13,000 marks, and his brother-in-law, Margrave Ludwig of Brandenburg, 6,000 marks for giving up his ducal rights. The Ver- purchase agreement testify for the King the Marshal, Knight Stigot Anderson and the captain, knight Friedrich von Lochen. The latter - later also working for the margrave - received on February 26, 1347 from the Grand Master Heinrich Du- semer 1000 bottles as a reward for his many efforts.

The settlement of this financial transaction is a welcome one Contribution to the knowledge of medieval financial transactions is all the more instructive as currency issues are significant here Amounts are decided. Stigot Anderson and Friedrich von Punch documents namely d. d. Riga, March 11, 1347, that on The remaining purchase shilling was probably Scutaten and Florene, but none cubic Florene may be taken into account. The reason Why and why this happens is not stated in the document visible; It is therefore necessary that all relevant to check the relevant evidence.

First, however, a literary note should be made; Köhne, Ztsch. f. Mz. and Wpk. 11, 86, mentioned once fleetingly in his

8. Alexi: The payment of the purchase shilling f. d. Herzogth. Ehstland. 91

Coinage history of Lievland the above-mentioned document and changes Here the currencies are arbitrarily converted into Rhenish Florene and rigid cal brands around; he finds that e.g. Z. the Lübischen Florene no significantly worse salary than the very fine Floren- Tiner Florene would have had and concludes with the words: “What So the Bitter Stigot moved to get this type of coin Please, we are unable to state." Vossberg (Gesch. d. Prussian Mz.), Kotelraann (Mzw. d. Mark in Sallets Ztsch. XI) and Bahrfeldt (d. Mzw. d. Mark Brandenburg) leave the original Customers as a whole are not taken into account. Now one follows List of the relevant documents along with a reference to the source).

1) Explanation d. Abbreviation: NI = Napiersky Index corp. hist. dipl. Livoniae, Dorpat 1833; MLA = Monumenta Livoniae Antiq. III, Kiga and Leipzig 1842; LU = Lübeck. Document b. A.I, T. 2, 2, Lübeck 1858; RC = Riedel Codex Diplomat. II, 2, Berlin 1845.

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The carrion payment of the kaafshilling for the Herzogtham Ehstland. 93

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C) X (No. 380 NI, No. 26 MLA, No. 821 RC.) The Knights Stigot Anderson and von Lochen stipulate with the Hoch- master and the master in Lievland the conditions the payment of the best purchase shilling d. d. Riga, March 11, 1347: .... ^quod quelibet Marca memorate sum “pagari deberet in puro argento Lubicensi, secundum Coloniense “pondus, et ubi argentum in toto vel in parte deficeret, collectores “seu receptores huiusmodi pecunie sine contradictione per qua- y^ lihet Marca levare debent L V sol^ Luhicen, denariorum legalium “et valencium, quibus vero deficientibus per qualibet Marca “recipient quinque florenus cum dimidio dativos et valentes, ubi “vero defectus fuerit in florenis, talis suppleri debet cum Scutatis “seu Clippeis aureis, semper per marca Argenti, quatuor Scutatos “aureos cum dimidio, absque aliqua difficultate et instantia ^computando.'* ... —

Although for the currency transactions under consideration here questions are of secondary importance, we do not want to Let it be mentioned that all sources are listed in Exhibit C, No the copy of the king's large document book. State Archives Print in Königsberg: “pro qualibet Marca levare debent XLV solid(os) Lubicen(sium) denariornuk*. At our request, We received information from the Royal whether there was a reading error here. State archivist Dr. Joachim gratefully informed me that that the perfectly clearly written copy, however, is so reads and has the German heading: “before the marc XLV Schillings". - But this is undoubtedly the case in both cases Typographical error! Dittmer has learned from countless Calculations proved that in the years 1341 to 1371 Lübische Floren unchanged 10 shillings silver money, therefore in In this case the Mark LV Schillinge was valid*). —

1) Dittmer, Gesch. d. first gold selection. e.g. Lübeck, Ztsch. d. Yer. 1 Lübeck. business I, 48: “What now is the validity of Lübeck. Floren! «or Aurei at the time of its minting from 1341 to 1371, this was the case "The same continually paid 10 ß silver money for the piece, and was able to “pays attention to the increased number of pieces that come out of the market from time to time”

The number of schillings purchased for the Duchy of Ehstland. 95

As can be seen from the list above, this took place Repayment of the purchase shilling in nine installments, of which again seven in the amount of 12,000 marks before the stipulation of to be paid March 11, 1347; these latter decay

. ^ piy ^ -.^oAAiL^r / M- 900, 200, 2900, 900, 2000\

in: five installments with 6900 M. ^-. — ^p — = j^-^ — ^tt-^ — ir-^^r-

\Document no. I, II, IV, V, IX/

pure silver cologne. weight

and two rates with 5100 M. C ^-^ t,;. — tit xr\Tr

\Document No. III, VIII/

paid in Lübeck Plorenen. The receipt (receipt no. III)

says the amount of 1100 M. C. Cologne. Weight in 6050 Florenos

(51 Flor. = 1 M. Cologne fine syllable) “non pondcratos sed debitam

monetam hattetes^ to have received; the certificate

(Exhibit No. VIII) over 4000 M. C. gives way to the wording

“equalem valorem sicut in placitis nostris utrobique conceptum

est* a gold payment can be assumed with certainty. But there these

If the payment is disputed on the Danish side, it is necessary to do so

to establish Mänzfuss of the Lübischen Florene; the same was for

Time was a relatively difficult one: 66 pieces went without any addition

to the Ludwigsmark fine gold (238.4 gr.), and was therefore

the normal weight of a Lübian hearing 3.61 gr.*); the

Florentine Floren, on the other hand, was quick to get his feet on the ground

of 64 pieces without addition to one Florentine mark

Fine gold (226.13 gr.) was mined and weighed only % Florent. 5

« 72 gr. or 3.55 gr. — *).

«was crushed, preserved in this way on the same level because the n Minting of silver gold was increased in almost the same proportion.**

1) Dittmer 1. c. p. 26 and Appendix 11: they are delivered i. J. 1346 ^5912 fl. = 89 M. 4 1 18 A." and i. J. 1347 J3179fl. = 199 M. 5| ISJA-, d. b. in both cases around Sß piece al marco.

2) G. Villani, Muratori RIS XIII, 191: (a. 1252) de quali Fiorini Otto pesayano una oncia; le Blanc, Traite p. 19t, 204, 214; de Laurit^re, Ordon. I 550 n. 802, II 249: In the disrepute of Philip the Fair v. J. 1314, which was not carried out due to the death of the king called: »Fiearins de Florence qui seront de 70 au Marc, a quoi ils devoient fetre", and likewise an edict from Philip v. Valois v. J. 1328; one further orderly d. d. June 13, 1316 sets le donar d\>r li IVscu 13'^ sol., le florin de Florence 10 sol., and 72 florins already went to the Troyes

96 p. Alexi:

The question of what money the remaining purchase shilling is in M. 7000 was paid is shown by the double receipt (receipt No. VI) answered about M. 6000; after that, on the one hand, this is Total in silver and gold, counted and weighed on the Lübeck town hall received, on the other hand in cash, in silver bars Lübeck sample cologne. weight and paid in gold florenes of Flemish weight; like that The last payment (receipt no. VII) of 1000 M will then also be made. have been carried out in a similar manner. Remains doubtful after all, whether payment is made piecemeal in Flanders. Fl. öder in be- any fine fl. by weight (Troyes Mark); both However, like the coin base of the Flanders. Fl. results in that- same result. Since it is documented in Flanders. messages are missing, This coinage rate from domestic monetary history is not true determine, and in this case only from the relationship to the to derive scutata. The "Scutatus" or "Much Escu" was also a fine gold coin, 54 pieces of which went into one flandr. or Troyes Mark*) (244.75 grm.), and according to the given The same ratio (4*^ Scut. : 5]^ Fl. = 54 : 66) were therefore from a Troyes Mark 66 fl. pieced; it therefore weighed 1 bottle. 3.70 grm. The Flemish Guilders, in the same number as that Lübische ground from the local market, therefore exceeds this increases in gravity by 0.09 grm.'): the florenus aureus flandr.

Mark (13^^:10 = 72:54). On Florent. Weight reduced, weighed in the first Trap 1 Floren 71% grains, in the second 69 grains; according to DeUa's information Decima, T.I Tav. IV in Soetbeer, Edelmetallprod. p. 119 was the normal weight 1 Floren i. J. 1324 and 1345 = 70 ^^ gr.; the book was s. Z. by the king). Library loaned, I therefore allege to Soetbeer.

1) The Scutat, an o/7 solidus redivivus (1| Troyes Mark: 1 old Roman & =• 72:54), weighed 4.53 grams. or 3 d. 13 gm., was founded under Philip VI. in France a. Minted in 1336 and has the same weight a. 1346 detectable; le Blanc, Trait^ p. 206, du Cange-Henschel see Moneta 466 and 467. In an i. J. Lübeck paper beech, started in 1341, Dittmer 1st c. Annex 3 says; “Item 54 ecutos de recto ponderc debent obtinere unam marcam Trogenensem^. — Gaillard, Research p. 758, brings only orkundl. Proof of the Flanders. Ecupr&gung v. J. 1349.

2) By weighing Flemish or Lübeck bottles. let these We cannot verify the monetary bases because we are unable to verify the emission year

The carcass number of the eaufshilling for the Duchy of Ehstland. 97

pond., regardless of whether in pieces or depending on the weight, speaks of a payment after the fland. Gold currency or the Troyes Mark, while Florenus Lubic, paid piecemeal, minted after the Ludwigsmark, which is almost 3 percent lighter, the means of payment of the correspondingly lower Lüb. Gold currency forms - The value ratio of gold to silver was in

,. " " . , . 4 . /l Cologne M. = 234 GrmA . .

in this case like 1:c. 11^^ (-^^' x 3.61 grm. j- ^" ^'""^

. , , . 1 / /l Cologne. M. = 234 GrmA

like 1:c. IIV m 7r;:^7rni • —

^ \ 5J^ X 3.70 grm. /

The Anderson-Lochen certificate is now also dated March 11, 1347 easily explained; the knights demand the gold payments according to fiandr. Gold currency, which is what they are undoubtedly after The people of Lübeck were entitled to the contractual Scutaten course Changers, on the other hand, only pay according to the order for Lübeck gold currency: to avoid all expansions and losses, the knights close the Lüb. Florene as a means of payment in general out. It should also be noted that the resale of Ehstland the lievland. Order commander again after this double Gold currency takes place.

Dusemer documents d. d. Wenden, October 14th 1347^) about the Sale for a payment of 14,000 marks “puri argenti colon. ponderis, semper per qualihet marca 5'^ florenos, si argentum nobis in toto vel in parte defecerit, aut 4 J^ scutatos aureos com- putando et expagando" ; The purchase shilling should also be paid in installments of 1000 marks each on the Feast of the Hurt of John the Baptist v, J. 1348 from Lübeck and Bruges. —

determine, and it can also be assumed, that the heavy liquids. long ago was rocked like this, for example. B. Joseph, the pretzel. Gold mzf. Currently d. v. I.£. d. Rhine. business III, 181, 210 and 224, the (average) weight of a Fl. with 3.5 grm., in the find mass there was 1 fiand. FI. v. Louis I and 2 Iflb. Fl. — A gold coin minted in Flanders according to the above mttnz foot mOnse is the a. 1859 and 13G0 documented. verifiable Royal; Gaillard, Research p. 158 ff.

1) Arndt, dear. Chronicle II, 101 and 102; Nap. Ind. No. 381, 3344, 3345; Monomial. LIt. Ant. III, No. 31.

S. Alexi.

8«{to«hri(t flDr NamitmftUk. XVII. 7

The Eund of Mchen.

Recently in Reichen, a village near Zielenzig in the Ost-Sternberg district of the Neumark, a find branden- Burgenian denarii made, although scientifically little is significant, but at least a short description, already in Interest in the chronology of the Brandenburg denarius coinage, serves. Although the find contains the significant number of 927 whole and 99 halved denarii, it essentially consists only from two, not rare, coins; also found only seven different stamps, usually only one of each pieces.

The find contained the following denarii and their description by referring to the recently published excellent one Work by E. Bahrfeldt “On the coinage of the Mark Branden- castle** is abbreviated:

1.No. 577 with inscription WO— liD-QSß— RR. 1 piece.

2.No. 557 : Winged margrave and 3 leaves in a frame.

1 piece.

3.No. 592: Six-pointed star decorated with lilies. 1 piece.

4.No. 594: Leaf cross with 4 points in the frame. 2 pieces.

5.No. 612: Scepter between 2 birds on steps, 1 piece.

6.No. 645: Six-pointed star with trefoils in the wind

keln. 498 pieces. The find offers something new to this character, when he makes it clear that the figures are on the margrave's side on the main page, not hearts, but with the tips

Ms. Bardt: The discovery of rich people. 99

angles directed downwards, like a Latin V. On However, you won't be able to think of a letter. With this embossing, two stamps can be used, with a larger one and smaller trefoil.

7. Hermaphrodite impression, with the star of the previous one on both sides

Denarius. 1 piece.

8.No. 655: Helmet in a wreath. 6 pieces.

9.No. 661: Three-towered gate with an eagle's head in the gate

opening. 1 piece. 10.No. 672: Leaf cross in quatrefoil. 415 pieces. Here too

small differences due to the more slim

and broad shape of the leaves. No. 6 and no. 10, which makes up the bulk of the find make, are those stamps that were at the time of ver- excavation of the same were in circulation. That there are two shapes are, whereas in the Müuz district there is always only one character Should be valid, I guess, with almost the same number of people both stamps, thereby declaring that the delivery of the old one Pfennigs and the exchange for the new one have not yet been decided. ended. The written denarius of Woldemar is therefore older than the two No. 6 and 10; the latter therefore belong to the last Anhalt period or the early Bavarian period Margraves, where Bahrfeldt transfers them. The same has with If you look correctly, you can see the togetherness of everyone represented here Characteristics recognized, which are also similar to our finds common but richer finds from Neuendorf and Spandau (Bahr- feldt pp. 292 and 293) is proven.

Frankfurt a. April 0, 1889. Ms. Bardt.

7*

Smaller communication

about a property of the silver coins.

An English fine silver cap from 1800 filed on one side and sanded with fine sandpaper rubbed clean. When I saw her in the flame of a Bunsen When the burner heated it to a red glow, the imprint appeared on the page again very sharply and remained in the same German bility after cooling. The originally raised areas had remained shiny, e.g. B. the writing, while the deep places had become dull.

This phenomenon obviously depends on the different things Hardness state, which is caused by the minting in the coin is caused. This is also supported by the fact that if... you sand the coin for the second time and put it back together heated, the embossing then only appears very imperfectly; The differences in hardness are balanced out by annealing.

Of interest and perhaps of value for numismatics but that is that the one called by the coinage Difference in hardness up to a certain depth into the interior of the coin, as quite a layer of silver has fallen off. was rubbed. It is very likely that the same This phenomenon can also be seen on very old coins, since there is no reason for the hardness level to change If it has lasted 90 years, it will not be divorced ten times lasts for so long.

Smaller communications. 101

I don't have old Mfinzeu available, so I can HOT encourage you to try. — In any case, it is purely metallic Surface is necessary for the success of the experiment, as one Oxide layer does not allow the embossing to stand out, as I did a nickel coin and impure silver. — At one worn old fine silver (or 6old) coin is therefore perhaps only necessary to sand them before annealing (with Sandpaper 0000), for impure silver or gold you have to On the other hand, probably only through treatment with acids (sulphuric or Hydrochloric acid) a pure silver or Produce gold surface and then glow.

It can be assumed that gold coins behave in the same way, I haven't been able to do any experiments on this^).

^) See an essay by SOpke in Grote's sheets for coins kunde 1834, Vol. I p. 32. A.v. S.

Dr. P. Drude.

Literature.

Emil Bahrfei dt, The coinage of the Mark Brandenburg from the most ancient times to the beginning of the reign of Hohenzollern. With 22 coin tablets, 6 seal tablets and 1 card. Berlin, Published by W. H. Kühl. 1889. gr. 4. p. 321.

As early as 1843, when Köhne wrote his letters about the Brandenburg coin history (Köhne Zeitschr. HI p. 357) began, there was a widespread desire for a superior visible compilation of what was already there at the time rich but very brittle material; from this lively ver- For a long time these are themselves from Grote, Köhne's declared contradiction. sacher, praised essays emerged. Yet they were not much more than advance payments, on the one hand because of them predominantly aphoristic in nature, on the other hand because it is through Illustrations were so little supported, mostly only on the so rare noise copper plates referred to. Later works, and the numerous fortunate discoveries that have occurred since then new and mostly extremely interesting coins the longing for a Corpus numorum Brandenburgensium only increase the difficulty of the task beforehand Everything has its reason in the large number of silent impressions, For a long time the few who were called frightened away. That's when you found out a few years ago that Mr. Bahrfeldt, as an avid collector Brandenburg medieval coins are known for this prepare work. Soon he also appeared with various advances studies to light and now he offers us in the present

Literature. 103

Works the ripe fruit of his years of hard work. Straight this restless activity in producing the coin material, the first thing that must be required of such work, shines through the extent of his collection, furthermore also from the multitude of previously unknown ones, in part (such as... interesting no. 103 with AßlOI-DeDI-eT-eMieTT) lost pieces, but no less the number of pieces used Collections and books.

That he wrote these books and especially the works of his If your predecessor used it wisely, you will learn from this when you read it. Solution of any section will soon convince, especially But what is enough to praise him is that he is happy and willing his own previous views in favor of better-founded ones Stranger has given up that he is serious about knowledge the truth is to be done. However, he doesn't always lean in conveniently to others. Preferably this applies in his Relationship to Eöhnc. This is his despite all other advantages The coin covers mentioned above made the mistake of having more coinage to want to assign certain Füists and mints, as If there is a lack of safe features it is permissible, it will pass deceptive signs guide, and sees heraldic figures wherever Either coats of arms are out of the question at all, or where with a number of different coat-of-arms-like signs the decision as to which of them is the main one, i.e essential, is downright impossible. That's it However, Köhne is guilty of a certain arbitrariness, Although this accusation doesn't exactly hit him too hard, because one time he found no preparatory work and another On the one hand, its scheme is very useful for a clear arrangement, You just have to keep in mind that one a large part of his allocations are based on a firm basis. be honored. Mr. B. has strict security in this direction carried out, which is sometimes a bit too strict. has fallen, because at Nos. 678 to 682 e.g. B. speaks well a strong suggestion for Königsberg: the crowned head

104 literature.

as well as the crown, which appears as the main embossing according to the imagery of the Middle Ages, a fairly significant a clear reference to the city that belonged to a king owes name. And vice versa, some people also The allocation made proves to be contestable; but this is . an inconvenience that is due less to the author than to the lack sufficient evidence must be taken into account, especially since well-known efforts of its smaller neighbors to create their own character to be as similar as possible to those of someone more powerful. The Mr. The author did what could be done, he didn't do anything Coins secured with inscriptions make the finds a gift taken, and with the help of this guide the unwritten Characteristics, divided into longer periods of time, the safe, attached to certain regents or mints. In general acquaintance with the Brandenbur- gical medieval coins that we share with our readers presuppose the magazine that deals so often with this subject may, it will be unnecessary to provide an overview of the material and to give its division, just pay attention to this makes that what the insight into a collection does not realize leaves, in the mark, apart from the oldest period up to Conclusions of the twelfth century, much more two-sided Coins were minted as bracteates. But that most interesting and beautiful characteristics fall into this early period, in which, in contrast to the following centuries, the Inscriptions form the rule that may be considered common knowledge apply ; A look at plates I - IV shows how rich we are in the have become in recent decades. These illustrations are based on satisfactory drawings by Miss Marg. Buchholz in the local institution in Alb. Freshly produced in collotype presents, and understand everything discussed on plates I - XXH Coins, some of which are included in the text for comparison printed are connected, while on plate XXIII— XXVUI Seals, preferably urban ones, are included in the text used to explain and justify the allocations

Literature. 105

are. No less is added to the understanding, However, not a particularly clear map of the March Bran- denburg to help, and also various directories and Tables, among the former in particular a carefully prepared one Evidence of 68 clironologically classified finds; also will the clarity through columns -headings and over- writings above the boards were significantly promoted, a means of 80 many writers use it to the detriment of their readers hem off.

Finally, a few additional and clarifying comments: notes on various details. P. 64 would be as Slavic words on medieval coins from the Cnes of Jakza the MILOST (Caritas) near Friedensburg Schles. No. 514 and about the Bohemian BOZE (alternating with DEVS and GOT) Vol. I P. 366 No. 98 a d. Z. to connect. It's probably not entirely accurate the description of the denarius No. 156 and the bracteates 213 and 214; In particular, on 156 the margrave does not hold a sword, but a mace (lily?). At No. 165 one would have to say been that Mader claimed this coin for Brena, one Opinion that, moreover, gains weight after now No. 247, 589, 590 and 591 as Anhalt restrikes. are larvae, only this Brenische Pfenig would be older than Mader believes and the brothers Otto II (f 1234) and Dietrich I (tl261?) must be awarded. No. 191, from Mr. B. can't find a copy, it's in mine Collection. No. 353 is probably a Pomnier (Stargarder) To delete the embossing here, it has entirely the factory of the Brak- teaten plate IV 88 of my Pomm. March, Mr. B. expressly described as non-Brandenburg, also dates from 353 (Plate Yll 207 Vol. VII d. Z.) from the Bünstorf finds, i.e. from the first quarter, not the second half of the 13th century and can therefore probably be said for this reason, according to Mr. Author's own citations not in the first one in 1239 Pearls mentioned as belonging to the noble gentlemen Gans (zu Putlitz) be beaten mountain. Also in Nos. 498 and 684 the full

106 Literature.

For the sake of clarity it can be mentioned there that Mader (II. Experiment p. 68) the VmU'K (VieHK) on Brena, here that Köhne the letters KQV “ave” enclosed in a circle interprets; with what right remains an open question. No. 621 is became known to us through the discovery from Brandenburg (No. 67), whose contents Mr. B. according to my information; there But I have to notice that I have this from memory communications made to the extent of being unambiguously secure limited, but you will hardly go wrong if you do all coins on Weidhas' plate IX, 11 to XI, 23 as inventory parts of this treasure, characteristic and recognizable The sign for her is a golden yellow shimmer and for her it is not few red lines on the surface. At number 645 it opens Pomeranian coinage with a similar coinage pattern (2 crescents, from 4 stars surrounded] referenced; but these are according to of the secret seal of GoUnow in this city and not in Star- completely beaten. At No. 683 the doubt is expressed, whether this piece or No. 339 according to Grote's statement in the BI. f. Coinology I No. 19 (I, 19) in the find described there had been; However, this doubt is dispelled by the writing according to which the Margrave holds keys, it can So only number 339 is meant.

According to the appointment, Mr. Author the continued continued his work until the end of the Middle Ages; it would be This is by far the easier part of the work, but still In a sense, this part only comes to an end would give. Let's hope a good reception so far Mr. B. will be encouraged to do so. H.D.

Description of the collection of Bohemian coins and me- Daillen by Max Donebauer. Prague 1888, size 8. (First edition division: government coins, until 1526). P. 98 and 2 family tables. With 21 plates illustrations.

The extremely interesting and particularly important for Germany The most important Bohemian coinage of the Middle Ages is literature

Literature. 107

not yet done justice enough, because Voigt's work is long out of date, Killian's extensive catalog is through his Forgeries badly distorted, and Hanka's essays in the Pamätky are written in a language that is foreign to us Germans. Lucky ones Finds from recent years (by Eibenschütz, Kyselowitz, Mitko- joke, Peisterwitz, Rackwitz, etc.) but have it at Voigt's Time so poor material increased to such an extent that this Organizing work is urgently needed. Have fun We therefore recently made this public through a brochure Knowledge brought to the attention of the company as a collector and connoisseur the advantageously known Max Donebauer, a portrait of Documents from his extremely rich collection accompanied by the documents to issue Bohemian coins, and we are happy about that too his unexpectedly early, sudden death did not fulfill his plan brought failure.

This first issue covers the Middle Ages, so it closes with Ludwig I (f 1526). They provide critical comments Coins of the 3 Boleslaws occasion, which are named after some of the oldest Gold coins from pagan times (from the finds of Podmokl, Mirowitz etc.) appear in a rich series (Nos. 26 to 148), particularly notable among them, except for 3 denarii Emma, wife of Boleslaw II, the two denarii of Biagota (No. 37, 38), alleged wife of Boleslaw I. At the The arrangement of these Boleslaws coins is the largest Difficulties arising from the fact that three dukes of the same Names Boleslaw follow one another immediately. One through Reasons supported attempt to arrange their coins As far as I know, only Menadier has occasionally used the description. Exercise of the Peisterwitz find (vol. XV p. 113 d. Z.) made, while all other writers mehi* or less after that Feel free to proceed. The findings so far point to this question not yet sufficiently investigated and largely not included been recorded extensively enough that Ch. Fieweger (Nentwig nnmismat. Bl. 1879 p. 52) even in an exemplification of the particular neighboring Saxony any coinage under the first two Boles

108 Literature.

laws, so could deny before 999! However, they seemed to him to support the finds, because the two oldest ones, the one from Obrzycko and that of Tureflf, that one around 973, that one also before Written down in 976, their description (see my Mz. d. Sachs, and Franconia. K. S. 41-43) not a single Bohemian coin on. However, this is not true regarding Obrzycko, because that of Friedländer, the person who described this find, for Bavarian explained fragment with the mint master SFEB has in- between, my p. 408 a. a. 0. according to the stated assumption, turns out to be one of the mentioned Biagota denarii (here No. 37), and how unfortunate it is in terms of its content Tureff's find, which became known to Cappe, is what I reits a. a. 0. p. 43, therefore the existing his being one of Boleslaw's is by no means out of the question; anyway safe conclusions cannot be drawn from their absence, since we are completely unaware of its number. Man always assumed that Boleslaw I had already have shaped, and this assumption is also confirmed by a look at the neighboring Baierland, which is exemplary for Bohemia supported, indeed easily possible, that Boleslaw I's predecessor, St. Wenceslas gave him the example of this. nadier, who also accepts this, shares with the first Boleslaw, im Harmony with the prevailing view, which is particularly old to see denarii of the sword type, then those of others and also here (No. 152 to 156) to the Polish king Boleslaw Chrobry, credited with pennies as the owner of Bohemia forward-facing heads, as well as those based on the Eegensburg pattern with church gable and cross with 3 balls each at 3 angles to beat (see Vol. XV p. 158 d. Z.); the younger (second) But he gives Boleslaw (see also 0. p. 160), again in the following the Regensburg coinage, the denarii with church gable, which show the cross with a ball at each angle, then the from the Bavarian style, which on the other side the hand of God, finally also the well-known denarii with ProlSlkopf and this hand (Mint Master 0M6RIZ). This is where it is located

Literature. 109

the present catalog as a whole is consistent, except that it as noted, the denarii with the full image under Boleslaw Chrobry performs (No. 152 - 156). Concerns about the over- I have already given the OMGRIZ denarii to Boleslaw II the Berl. Browse 1 p. 34 developed, they are increasingly being through that the rich treasure of Stolp, deposited around 996 (M6m. St. Pet. II p. 96, Dannenberg a. a. 0. p. 43) among so many Boleslaw did not find a single one of these so common denarii. has to hold, whereas Peisterwitz has more than 100 examples Plans have occurred, so they are probably one of them most recent impressions of this find, and there in the same Alwich of Strasbourg (999 - 1001) and not Henry II, probably but Otto-Bezpriem, son of Boleslaw Chrobry (1003/4) presented come, the assumption is likely that Omeriz is the one in question Coins under Boleslaw III. has been beaten and can hardly be rejected be. A greater certainty, however, insofar as it exists at all can only be achieved from numerous further, conscientious Finds that need to be examined in custody.

What, however, is not subject to the slightest doubt: that Douebauer or Mr. Fiala we after the note P. 77 must probably be regarded as the author of this catalogue, is on the wrong track when he reads the meaningless inscriptions on a series of obols and denarii, mostly Peister witem, and mainly with the hand and either one Bird or the church gable denotes a meaning tried to win; about the inadmissibility of such proceedings I have already agreed (a. a. 0. p. 32). Thomsen (Bl. f Mzkd. III, 5) and Grote (Mzstud. IV, 58 V, 95 etc.) pronounced more often. But it is completely wrong if as a result of such interpretations, Greek inscriptions (No. 158 AVhAHI+AV»A\, read: avroxQccTOQ^ amoTtqaxoqoav, No. 166 AVTV jaViOVIVD, read AVTV LBVICVIVD, interpreted avroxqdvtdQ Lu- bicensis and the like) appear, and then allocations Chiefs of the “Baltic Slavs**, the Bodritzer, the Wagrian in Lübeck, the Drewanen in Celle, the Lutizer in Usedom and

110 literature.

Wollin, the Serbs in Anhalt, etc (No. 158 - 188). The explanations are equally untenable the letter A—(s) accompanying the hand of God through the Hebrew letters Shin and Ain as the beginning of Shadai (holy) and Ain (eye) (No. 69), for which another time (No. 71) is said to be the beginning of the Latin oculus, as well It is not permitted in a single E under the church gable to see either (the Hebrew) Elohim or ecclesia (No. 29); What can't be contained in such individual letters? put in! — in the latter case we only have it like that anything else to do with a mint master's name, too not (Jfr. 41 AQO) with Adouai, not (No. 44 IOA) with Jehovah, just as (No. 47) the well-known ONO cannot be interpreted: the Only 1

After Vladivof's short interlude, the Boleslavs follow reign (see no. 149, 150?) the relatively long ee- ments of Jaromir, Udalrich and Bracislaw I (1003 - 1055) with numerous, large denarii, some of which are based on by- borrow Zantine and English patterns. The scope of the Coins became smaller towards the end of this era, even more so under subsequent governments. Against this The coin images, which until then had been drawn quite crudely, won for this Year 1100, under Borivoi and Swatopluk, exceptionally beautiful unity and achieve and retain in the 12th century under Wla- dislaw I and Sobieslaw I a degree of delicateness that in Given its small size, it is almost unique in the entire Middle Ages and only finds an analogy in Liège; in the process the character also develops into unusual wealth (up to 5 figures appear on these tiny coins, see No. 477, 479) and is often immortalized in the form of a medal historical events, although very few of them are based on our poor sources can be proven. A decline occurs but already under Przemysl I, whose denarii were the largest for us- partly only recently made known through the Mitkowitz find have been, and becomes even more striking towards the end of his

Literature. 1 1 1

government and under his successors Wenceslaus I and Ottokar II and Wenceslaus II, who apart from a few denarii of Ky- Selowitz find (No. 678 - 683) is only poorly defined and almost exceptionally left behind silent bracteates (Nos. 575-677, 782-795 and 799-805). Are connected the so-called Vienna pfennigs from the Austrian provinces, who were subject to the scepter of Ottokar II (No. 684— 781), as well as some Brandenburg pfennigs with the Bohemian one Lions. — The Bohemian coinage takes on a different form in 1300 through the well-known coinage reform of Wenceslaus II, We are now entering the penny period and will soon see what happens the first gold guilders appear under Johann; under No. 807 — In 1008 an impressive series of these later coins was recorded. counted. You won't blame the collector for... his possessions were also captured by those outside Bohemia coins and enriched by restituted medals, which the latter, of course, partly in its styleless unprettyness (No. 925 —927) the consequences of the simultaneous coin memorial depicted interrupt in a disruptive way. This in the lithographic The illustrations produced by Vitek in Prague are due the praise of perfect faithfulness, and there the essential types have been almost completely presented, this is granted Browsing through these tables provides rich information. Also the included The two family tables added are a pleasant addition.

Finally, a few small comments regarding the Mttnz descriptions. No. 275 is not filled with 4 anchors, but rather 4 anchor crosses the angles of the cross, and sits on No. 396 a figure not at the throne, but on the throne, as well Even in 467 Vladislaw I is not on his deathbed. Up No. 362 and therefore also No. 426 is probably not a specific one. winged bust, but an ordinary bust without To see wings, the supposed wings are just something high shoulders. No. 412 (and therefore also 411) should not a head above a throne, but rather an archangel to which the transliteration SERVVS DEI also fits perfectly.

112 Literature.

— It is not quite understandable why all bracteate Descriptions noted is: "back blank" that means a waste of space of more than 100 lines, as well The designation of the coins as bracteates is never missing some orthographic irregularities, such as No. 595 Syrene and 606 Harpies have a disturbing effect. Finally like from different doubtful allocations only those of the known pfennig No. 928 is highlighted with 5t, which is probably now as the stamp of the Bavarian dukes Stephan III and Ludwig VE von Ingolstadt is recognized (see Beierlein No. 90, 91).

With the publication of this to five more abbeys The work, which was calculated according to the calculations, is immortalized by the Donebauer be a lasting, brilliant monument. H.D.

The military policy of Diocletiaii and his JSracMoIger.

(Shut up)

IV.

The copper coin.

Let us now turn from the written tradition to the monuments, so lies for the time of Diocletian and his Co-regents made things quite simple. The great mass of her Eupfergeld breaks down into two types of coins ^), which are called middle ones and used to describe small bronzes. Both contain one Silver additive produced by boiling in an acid on the surface was driven out, so that very well-preserved examples are still there now look like silver plated. The larger pieces have one Diameter of 23 - 27 mm, the smaller ones about 22; those Weigh 7 - 14.5, these 2.5 - 4.5, which is about a normal weight of 10 respectively. 4 Roman scruples (11.37 and 4.55) close leaves'). The small variety is characterized by the fact that that the Eiserkopf is always decorated with the crown of rays is'), which never occurs with the middle bronzes.

1) The sesterces, of which Missöng (On the coinage reform under Aurelian and Diocletian. Viennese Numism. Magazine I, p. 126) talks, I have never see. In any case, they are very rare and can hardly be used for money circulation have been important.

2) Why do I choose the type of coin that existed before Diocletian existed, the maximum weight, for those who only came under his control gation was introduced, consider the average weight as normal, arises from what was said on pages 44 and 140.

8) This coin is usually called Antoninianus, but since this Name only in the forged documents of the script, are. Aug. occurs, which had no concept at all of the monetary conditions of the third century

ZeÜMhrift for Namibism. XVIL 8

114 0. Seeck:

Much can be said about the relationship between the two types of coins. slightly following numbers shed some light. In Berlin Museum is owned by each of the four co-regents following Number of pieces:

Diocletus. Maxim. Constant. Galer. Medium 118 138 58 85

Small 133 110 18 26

According to a cursory count, in Cohen's catalog the The following number of types are recorded:

Medium 86 132 104 95

Small 255 298 58 45

So with the two Augusti, which 284 respectively. 286 for re- The small bronzes are present in the same number. act like the middle ones or they even predominate; at the Caesares, on the other hand, who was only clothed in purple in 293 The larger pieces are more than twice as numerous. Finally, with those emperors who only abdicated after their abdication Diocletians (305) were called to rule, these are missing

If you have more, it lacks any authentication and is easier to use. avoid. That, as Missong p. 13S assumes, there are pieces with a crown of rays I think there are some that are made of pure copper for reasons of this Expediency is very doubtful. That jewelry of the Iceman's head had for more than half a century as a symbol of value Served very specific denominations If you put it on coins now would have a much lower yield due to the lack of silver admixture If they were presented with value, this would only lead to the audience being deceived can lead, especially as you can use the white copper pieces as soon as they are something were worn out and could no longer be distinguished from pure copper. Because in the collections the silver stock is also extremely high for such coins rarely noticeable, who originally had it for sure. He just kicks in specimens that are either exceptionally well preserved or from are treated with acids by modern collectors. Quite well con- Served pieces usually have the appearance and patina of pure copper. Man can therefore never claim without chemical analysis that any Münzgattong does not contain any silver additives. Of the pieces with concordia militum, which Missong cites, I saw some of them in Berlin to whom the silver brew was unmistakable, and according to Mommsen p. 798 note 207 Smoke has a content of 4%, especially in coins of this reverse Silver confirmed.

The monetary policy of Diocletian and his successors. 115

Coins with the ray crown whole'). You will remember it It can be concluded that the coinage of the same took place under Diocletian Desire has stopped and this at a time that is not The appointment of Gaesares (293) followed too long. As There is also confirmation that they consist of small bronzes Treasures buried under Diocletian, coins of Constantius and Qalerius either not at all') or only completely vanishing number ') contained, while those in which the Gaesares occur more frequently, entirely from the Middle bronzes are composed *). Both types of coins combined come in treasures from Diocletian times, although they are numerous

1) Maziminus Daza only makes an apparent exception, because on the Both coins with Concordia militum (Cohen 9) are only by mistake Stempelschneider's maximinvs written for maxlmianvs; in reality One belongs to Maximinian, the other to Galerius. This proves The reverse of the two pieces is common, which was used by Diocletian and his fellow Regent is quite common, but with Maximinus Daza it never happens otherwise. comes. In addition, the name on one coin reads: Imp, C. M. A, Maximinus p. f. Äug,, and M(arcus) Ä(urelius) the old Maximian said to be called; Maximinus is given the first name Galerius ValeHus. See SaUet, Magazine f. Num. V, p. 253, where the right decision was generally made, only due to an understandable oversight on the heavily worn coin is described there, VA{lerius) is read instead of iA{arcus) A{urelius). This Sallet himself noticed after repeated examination and asked me to correct his mistake.

2) Treasure find from Geneva: 1800 fine bronzes from Claudius Gothicus to on Diocletian and Maximian. — Aubonne: similar in nature, but it was also a Carausius there. Memoires de la societ^ d'hist. de Genöve I, p. 239. — Han Bur Lesse: 7,000-8,000 fine bronzes from Gallienus to Maximian. Revue de num. Beige. III Ser. V, p. 310. — Strasbourg: 200 pieces by Probus, Diocletian and Maximian. West German magazine. VII, p. 155. — Bawtry: 600 pieces from Valerian to Diocletian. Num. Ghron. III Ser. VI, p. 245.

S) In the treasure of Blackmoor there were 29,802 silver bronzes, of which 75 by Diocletian, 53 by Maximian, 545 by Carausius, 90 by Allectus, only a single piece from Constantius Chlorus, none from Galerius. Num. Chron. N. S. XVII, p. 90.

4) Of this kind are the treasures of Vezcnaz (Mem. de Genöve I, p. 240), Emmersweiler (Westd. Zeitschr. VI, p. 131), Trier, lieddert, Confeld, Ims- bach (a. a. 0. VII, p. 155; 156; 161) and Little Malvcm (Num. Chr. XI, 1849, 8. 19), which e.g. Th. consist of many thousands of medium bronzes.

8*

116 0. Seeck:

is very considerable, never before. So one has to go through the other may have been completely pushed out of circulation. Since pieces of both types have the same value mark carry, so the same amount should apply, the entry means leading the larger ones an increase in the coin base. same- The smaller ones must be abolished in time and in in the harshest and most merciless way. Because through that They cannot be collected from the state coffers because they are in the Treasures];!, which were buried after 306, again very common occur. Nor are they limited to a fraction of them former validity has been reduced; because if they are in the second half of Diocletian's reign If they had any value, they would be in the numerous treasures not entirely missing from that time'). So the emperors have them simply declared invalid and everyone who has a monetary had put aside a small sum in white copper, with a feather deprived of their savings. What excitement this one legislative act of violence can be measured. True- Apparently it was he who caused the rebellion in Alexandria. Achilles' reaction and forced Diocletian to die The Persian war was threatening from outside, a city of his to besiege his own empire for eight months.

For a more precise determination of the time of that coin reform - if one calls the name Re- the Alexandrian copper pieces offer some clues. As is well known, these have the ownership The fact that they have the year of his reign on the back Emperor's wear, which from the ^^ Egyptian New Year's Day of August 29th is expected. As Aurelian to all the rest

1) This conclusion was also reached by Hettner (Westd. Zeitschr. VI, p. 141). pulled. Nevertheless, he places some coins with the radiant crown on p. 144 Medium bronzes at the same time, which is certainly not right. The mention The Decennalia celebration in two of the reverse inscriptions is not used Qalerius, whose picture showed the side of the head but can, like that The example given in S 70 note 2 teaches us to also refer to the corresponding anniversary go to Diocletian (293) or Maximian (295).

The monetary policy of Diocletia and his successors. 117

cities and provinces were prohibited from minting their own coins, Alexandria was excluded, and here it is too Until the appointment of the Gacsares, a lot of money was made. Soon afterwards this coinage was restricted; since then tenth year of Diocletian, the ninth of Maximian (August 29, 293-294) Egyptian copper pieces become rare. For this purpose, an imperial mint appeared next to the provincial one activity*) and still has a considerable amount of small Bronzes supplied with radiant crown. With the 12th year Diocletians, the 11th Maximians, the 4th of the Caesares (August 29th 295-296) the autonomous character then ceases altogether. Um In 296, innovations in coinage took place. There, as we have seen, the introduction of the middle bronzes does not It followed the appointment of the Caesars (293) for too long has to be, the most appropriate way to do it is with the Cancellation of the Alexandrian special coinage in conjunction with bring slope').

The value marks for the medium and small bronzes will be available soon XX, soon XX • I, soon XXI, soon I ; or in Greek numerals K, KA, AK or A. The dot can be found on coin inscriptions very rare at this time; the words are almost always there or the individual huchstabcn, which are abbreviations for Words are next to each other without any separator. So is for Emperor Caesar Marcus Aurelius Maximiamis jnus felix Auffustus regularly written: IMPCMAMAXIMIANVSPFAVG, for Sacra moneta Trevirensis SMTR and analogous in most

1) That both Dcbcn existed each other, Ireu the coins of the dominion tiu9 Domitianus, from whose brief interest both Alexandrians of the early Heren type as well as money with all is preserved in the section. The Usurper did not rule, as Missong p. 128 seems to assume, several years, but only 8 months, which is why it is extremely rare of his coins fits. Because I believe that he is identical with Achilles despite Sachs' statements (Achilleus and Dumitius, Zeitschr. f. Numism. XIIF, p. 23y) is undoubted and will be discussed elsewhere prove.

2) Missong p. 128 also comes to the same result.

118 0. Seeck:

other cases. But where the point is, as is usually the case •SM «SD- for Sacra moneta Serdicensis, that's where he also refers always a separation. So XXI can very well be 20 and 1 interpret, but XX «I never 21. If Missong the two Separate signs from each other and interpret each one on its own sought, this was not only justified, but also entirely justified. offered. Since the X has traditionally designated the denarius, so saw he in XX or K the mark of the double denarius or FoUis, in I or A, which sometimes also have no XX or K on the coins occur, the expression for the fact that this is the Eechnnngsein- ity should form ^), an explanation that I think is very important in itself probably hold. To support them, still come added various moments that Missong had not taken into account, but which, I believe, is the decisive factor for his hypothesis- provide the proof.

1) The Follis was, as we have shown on p. 84, /w pounds Copper (= 32.75 gr.) equated. The small bronze with the The crown of rays only weighs a maximum of 4 snippets (= 4.55 gr.), but contain an admixture of silver, which under Diocletian fluctuates between 2 and V/^ percent'). Because with this unso- Liden minting the target content of precious metal the maximum of In any case, they were much closer to the actual content is, as the minimum, so we can set it to about 4 percent put on, which amounts to 0.18 gr. per piece. result in silver would. The miliarense of y^ pounds of silver was considered in that Period in which the small bronzes were in circulation, probably the 16th century FoUes or 1.6 pounds of copper (p. 62); Accordingly, that was the office

1) When Diocletian in the well-known edict set his prices in denarii standardized, it probably only happened because the denarius was accepted for everyone. fig abbreviation symbol (x or X) for which Follis did not yet have. Because to always spell out the word on such extensive stone inscriptions had technical inconveniences. By the way, the vast majority are of prices, as Christ has already noted on p. 141, expressed in numbers, which are divisible by 2, so can also be included in the calculation according to double denarii, as follows denarii.

2) Mommsen 8. 798 note 207.

The tired policy of Diocletian and his successors. HQ

Ratio of the two metals 153.6: 1; the silver addition of the Follis therefore corresponded in value to a quantity of copper of 27.65 gr. Let's also count its copper content at 4.37 gr. added, so he- we hold 32 gr. Copper value, that's almost exactly '/lo pounds. Therefore, the heaviest and most silver-rich pieces were Metal value actually equal to the nominal value, which Missong found for the twenty.

Since the relationship of the follis to the copper pound and the Miliarense to Follis determined by us only through combination This calculation may perhaps be considered misleading hold. We therefore contrast it with a second one: based exclusively on traditional figures. Of course The testimonies on which we have to rely include: usually from a much later time; that they also for the Diocletian's reign is therefore more than doubtful. liable. But since they all fall into the fourth century, The result will be 80, even if it is not entirely precise and can be reliable, not to rely on the right one far away.

In 396 the value of the solidus became 25 pounds copper fixed^); on the gold pound went 1800. According to the Price dictum is one denarius equal to Vm^ooc gold pound, which according to the Ratio of 1800:1 in copper '/«so pounds or 11.79 gr. er- gives. Therefore, according to this calculation, the Follis would be 23.58 gr. provide copper value. In the year 397 one pound becomes Silver equated to 5 solidi'); this is equivalent to 125 pounds of copper. According to this value ratio, a small silver addition comes bronzes of 4 percent or 0.18 gr. a copper weight of 22.5 gr. equal in value; the whole coin would therefore be 26.87 gr. represent copper. These numbers also agree with that of Missong assumed validity of the twenties as well as one reads can only be expected with an invoice of this kind.

1) Cod. Theod. XI, 21, 2.

2) Cod. Theod. XIII, 2, 1.

120 0. Seeck:

That these two calculations, although they come with completely different different numbers, but still approximately the same Leading to results is not a coincidence. The most important mistake second, which is that the much higher copper The value of the year 396 dates back to the time of Diocletian (p. 79), namely repeats itself in both parts and becomes like this compensated by itself. As a result, the found The numbers are wrong, but they still don't add up to much worse than the correct ones in the first calculation. If If the gongruence is less precise, this is due to other factors, related but not so significant errors, which are not were able to compensate through compensation.

2) If you don't want to recognize the twenties as double denarii know, their value symbols will hardly be interpreted differently. tire than they should count as 20 denarii. After that one would have to assume that the metal is worth the best pieces amount to barely a tenth of the nominal value; her So they would no longer be a separate coin, but almost was purely sign money. Diocletian has it up in 296 increased 2*^ times their weight, but probably the silver additive, which the audience cannot control liren was able to be even more diminished because even with good In the middle bronzes that have been preserved, the silvery surface is much rarer noticeable than with the small pieces. The value of the coins So it was hardly multiplied, but its distribution could Enlargement, insofar as it made it more noticeable, was for the better contribute to their course, and without a doubt this is the purpose of the been emperor. But let us assume that the weight is significant If the value is complete, it would still be the highest It would have been folly to expect the price of money to rise as a result of that you can increase the effective value of the coin from one tenth a quarter of their nominal value. Sign money would be her remained that way, and with such things the course is not directed according to the slightly larger or smaller metal content, but rather according to the trust that the government that gives it to

The monetary policy of Diocletian and his successors. 121

audience. Did the empire still have enough credit? If you took your money at four times the Mctall value, you would have 88 just as well taken a hundredfold; so it would be done There is no reason to foresee why the denarius does not have its original had retained legal validity, but on the Werlh of a had come down to a few pennies. That a coin in price decreases when it becomes undervalued is not necessary, like ours Silberthaler prove; but if it still occurs, so be it The sinking will certainly not come to a halt until the course is on the ni- high of the metal value or, as the mistrust once is awakened, itself descends even deeper. So it stood the denarius is no longer, as under Augustus, on */iooo gold pounds, BD he couldn't stop at a ^^,,.000 if his Metal content of this amount of gold was not approximately the same value. Diocletian's measure takes on a completely different face, if we take the twenty as a double denarius. In this case he owned according to the foot of 296, even if his silver addition was only a little over one percent, but the full value of Vio deposit copper. The small bronzes were rightly mis- Confidence aroused because their metal mixture was very inconsistent and therefore you could never know how much silver you would get with it received a single piece; However, with these large coins it was enough that they had silver at all, even if only in different dwindling amounts contained in order to increase their metal content To make the nominal values the same. The enlargement The white copper money would have served its purpose very well unless other reasons arise later in conjunction Hangs are to be discussed, counteracting a price increase would have worked.

3) That the double denarius or follis at the time of Diocletian not only as a unit of account, but also as a piece of money existed, and existed en masse, is certain. Because never- once you would have the name of the "sack" on the small ones Value of two denarii applied, if not pieces of this Worth the bags filled with which to make large payments

122 0. Seeck:

in Eupfermünze used to carry out (p. 83). There now in time from Aurelian to Diocletian's abdication in the 1920s is the only piece of copper that is available in sufficient quantities was minted in order to be able to help with large payments, so can nor could any other have been the double denarius.

Even after 296 the FoUes were made so unevenly suggest that the lightest pieces are barely half the weight of the hardest show. Without a doubt, here too, as with Silver and gold (p. 43), the average value as the normal times apply, and with copper one was in the adjustment of the Of course, coins are much more careless than the more valuable ones metals. That this must be disastrous for their course, is obvious. Because this was aimed at the known Laws are not based on the average, but rather according to the value of the worst pieces, because one can do without Wage and chemical analysis could never determine whether the individual coin you received doesn't really matter belonged to them.

Diocletian did not have denarii struck, but he did have one very small Eupfer coin (13 mm) in which I put half Denarius or Gentenionalis would like to recognize. This no- minale, like the Follis, can already be found in the earlier Kai- sern, but was probably never very abundantly minted. Since it was neither hoarded nor used for large payments, but because only for changing the follicle for the smallest purchases served, even a small number of pieces could serve the purpose The needs of traffic are sufficient, as is the case today Pfennig, which is approximately equal in value to the Gentenionalis speaks, is rarely seen. The spread These coins are likely to have taken place primarily through that they were scattered among the people at festivals; because everyone I know bears this careful stamp and the beautiful cut of the stamp the character of festive coins. By the way, they were probably more common than can be recognized by their rarity in museums. Because

The monetary policy of Diocletian and his successors. 123

since they are in the treasure troves, which make up the main inventory from our collections, never occur and which are in Individual pieces lying on the earth are distinguished by their smallness Easily hidden from view, they are discovered less often than their number corresponds. The weight of the specimens I have varies between 1.1 and 2.4, i.e. h. between the quarter of the older one FoUis (1.14) and that of the younger one (2.84), which leads to mine the assumed value of these coins fits.

In addition to these very smallest pieces of weaving, there are quite a few numerous coins of somewhat larger size (18 - 19 mm), but the same weight (2.55^1.42). They are all in Siscia beat and bear the inscription on the reverse: Genio populi Romani. The obverse shows the heads of Constantius Augustus, Severus Caesar, Maximinus Caesar and Maximianus Augustus, which means in In this case Galerius must undoubtedly be meant. Because no Kaisemamen, who belongs to the period before May 305 and after July 306, no longer Severus Augustus himself, comes on this type of coins. So they are only during one year and only in Siscia, i.e. h. been beaten by Galerius, but there in large numbers; because the Berlin Museum alone owns no less than 14 pieces of this genus. Without These centenionales are also doubtful, only that Galerius puts them in placed on the market in larger quantities, while his fellow Regents down to Constantinus Caesar continued to exterminate them finally minted as celebratory coins. In the next decade Only Maxentius struck this nominal, most often with the heads of his deceased father and son, the Divus Maximianus and Divus Romulus. The other emperors kept the same, presumably because the traffic was a crime There was no longer any need to increase the smallest coins.

The heavy Follis Diocletian does not have his abdication endured for a long time; very soon he starts to get lighter and then quickly decreases further and further. Hettner doubtfully ties it Reduction of the coin weight in accordance with a legal measure at the Congress in Carnuntum after a joint resolution

124 0. Seeck:

The emperor's version was decreed, but this is forbidden Acceptance for chronological reasons. Because Constantine, who became Augustus in the spring of 307 already had an easy time as Caesar FoUes defeated, and that Congress found, even after the Ordinary dating, in late autumn 307, actually took place only a year later^), can at all be said of a one-off Reduction of the follis, which creates a fixed, lighter structure takes the place of the previously valid one by means of a legal act would not have been mentioned at all, but rather its metal content is gradually reduced through scarcity in order to increase the imperial to create an unlawful advantage for public funds. The Diocletian copper coins were at 11.37 gr. out- brought, but how individual pieces considerably exceed this weight rose, others sank to 8 grams and even below down. The coin deterioration now began with the fact that they change the minimum weight of the previous time to the maximum made'), and so the lighter Folles in imperceptible superimpositions aisles next to the heavier ones. Because the scope and These coins, mostly also the reverse types, look quite the same- are the same as with Diocletian and his co-regents, that is Confusion between older and younger coins were deliberately favored, there was in any case not a certain sudden and obvious change in the foot, but one Intended to deceive the audience. Of course, this can last a long time cannot be carried out because weight loss is always obvious.

1) About the time of Licinius' elevation to Augustus, which on that congress took place, cf. Seeck, stages in the history of Diocletian and Constantine. IL Idacius and the Chronicle of Constantinople. Yearb. f. classic Philol. 1889, p. 627.

2) From the seventh issue of the Trier Mint, in which also according to Hettner (Westd. Zeitschr. VI, p. 145) the “reduction” has already been carried out There is a follis by Constantinus Caesar in Berlin (with

Sl A\

— l which still weighs 8.12. From Maxentius, who only “i'^ducirted**

Folles beat, one specimen weighs 8.14. Pieces of more than 7 gr. are common.

The monetary policy of Diocletian and his successors. 125

became more due and soon the size of the coins changed accordingly went back to fucking. But this sinking cannot happen suddenly Confirm the jump, but all weights from 8.14 to 3.50 and all moduli from 27 to 20 mm are represented^).

All the Folles I know have heard of Severus Augustus, whether even though they were defeated in the most diverse parts of the empire, the old heavy weight; Maxentius, on the other hand, the few Weeks after he received the title of Augustus According to the holdings of the Berlin Museum, he ascended the throne Judging by it, it was just easy money spent'). There his coins those of Severus must be partly at the same time, so may one suspects that the clean business of egging and Wippens was initiated by him *). But the rest are emperors

1) Also the pieces with a diameter of 20 mm and 4.80 respectively. 4Qr., in which Hettner, VI, pp. 145, 146 wants to see a special nominal probably just reduced Folles. If these are different from the larger Trier Mflnien differ very noticeably, so one must consider that also Products from the extra-Gallic mints were found en masse in Constantine's empire. partially penetrated, and the transitions, which within the Trier emissions perhaps missing, were made by those.

2) The heavy Carthaginian Folles with M. Aur, Maxentius nob, Caes. (Cohen 103, cf. 66) were struck at the mercy of old Maximian, which had had decisive influence in Africa since the Moorish War of 297 owned. (Zos. II, 12, 1, where due to an understandable oversight on the part of the writer the two emperors of the same name Galerius and Maximian are confused.) This results from the fact that in the Italian mints, about which Maxentius himself had to command, he is never called Caesar. So As long as he did not feel safe on the throne, he avoided it characteristic title, which represents the two levels of imperial dignity distinguished, entirely and called himself princeps invictus, which means any interpretation (Cohen 47, 48, 80, 87, 89, 134); after defeating the Severus, on the other hand, only gave himself the title of Augustus. When he is in Africa was demoted to Caesar, this reflects Maximian's efforts aas to push his son back into second place, which means that As can be seen, the old and the young emperor soon became an official Broche came (Lact, de mort. pers. 28; Entrop. X, 3). For coin policy of Maxentius, therefore, none can be derived from his African influence draw conclusions.

3) They also owe the dynamic operation of this business numerous mints were founded, which were founded by Maxentius and disappeared again after his fall. As such can be

126 0. Seeck:

quickly followed his example and couldn't do it at all act differently. Because his Folles, e.g. Th. with their heads minted and of course invaded their parts of the empire en masse, and the price of money always moves according to the easiest pieces directed, the bad coins of the GoUegen had to be by They mixed with their good ones, these too infallible in value press down. So it was the most sensible thing they did could, if they could at least, in addition to the inevitable evil also took with them the advantage that the issue of the light teren money initially brought to their coffers.

The youngest datable folles of this gradually declining Series that I can prove are one of Valen (end 314) and one which shows Licinius father and son united (Cohen 1.) and probably immediately after the survey of the last teren was elected Caesar (March 1, 317). Both measure 22 mm and weigh 4.2 respectively. 3.97. In the negotiations, which preceded and followed the appointment of Caesar is true- Apparently a coinage reform was also decided; because that Copper pieces of Crispus, Constantine II and Licinius II show, with the exception of the Follis just mentioned, all one whole new currency.

As early as the year 313^), Constantine had already some of the coin deterioration was stopped. The means This included the complete elimination of the FoUis, its V7erth had just become completely vague. The emperor struck

from the section letters in Cohen YII, pp. 165 and 182, although some are obviously misread, but most likely the following ESTATE: Ostia (OST), Regium Brittiorum (rb), Regium Lepidi (re or rl) and Ariminum (ar). In addition, the old coins of Rome (r), Kar- Thago (k) and Aquileia (aq.) continued their activity in Italy The number of mints under Maxentius was three times as large as before and after his government. If it wasn't propagated in Africa at all, then find The reason for this is that the diocese was only subject to the Roman Empire for a very short time. was subjected to tyrants.

1) At Hettner p. 146 the valuable emissions record is one require a small Gorrectnr. Because firstly, it is not likely that those mint marks which only appear in Constantin and Licinius.

The monetary policy of Diocletian and his successors. 1^7

therefore now exclusively a new nominal value of a weight, which only fluctuated between 3.5 and 2.5, i.e. for one Copper coin of that time was quite uniform. The value symbol X, which appears in the field on numerous pieces, characterizes them as denarii 0- I^the light foues, which Licinius still continued to issue, considered double pieces leaving would not have been possible. Because since you metal The value fell far short of that of two new denarii, so The better coin will soon be replaced by the worse coin from the market been displaced and migrated into the melting pot. Like We don't know what Constantin prevented from doing so; but he is against it his rival, with whom the relationship is always high It was tense and open war broke out as early as the beginning of 314. broke, a very gentle procedure was hardly considered necessary. This is probably the only reason he limited his copper coinage to a single nominal in order to be able to simply decree that all copper coins that circulated in his part of the empire at the same rate Werth, d. h. as denarii, were to be accepted from the state coffers. Of course, this had to result in the Folles of Li-

They are older than those they have in common with Maximin; secondly The pieces that he listed in the ninth issue under No. 1 close and 2 lists, much more closely resembles the coins of the seventh edition than to those of the eighth. The coins with TiF will eventually fall apart in the field two emissions, which differ according to the fact that the first in the section PTR and STR, the second carries atr and btr. This includes coins of the Constantin, Licinius and Maximinus Augustus, according to which they were around 309 to 313 may have been granted. It is followed by Hettncr's eighth emission with as and bis in the field, which only occurs in Constantin and Licinius and consequently from

813 to 317 ranges. Then finally come the coins with ^^ and '''—.which

ATR BTR

In addition to the two Augusti, the three Caesares also show. This chronolo- The presentation in the text follows the historical approaches.

1) Mommsen p. 794 has the number xiif d on some of these coins. h. 12% lu recognize believed, but probably wrongly. The sign sees

on the quite numerous copies that I know of it looks like this: j^p there

X X B R 11

instead of the same on completely similar pieces also ^ ^' ^^ ^u. like. m.

Gate comes, then there can be no doubt that iir does not belong to the number^ but, like the letters a, b, r, is just an emission symbol.

128 0, Seeck:

cinius the boundaries of his territory within which they had a higher validity, not exceeded. But like that Whatever may have been the case, the Minz War also ended in 317 and peace passed in favor of the Constantinian denarius closed, besides which only the Gentionalis in limited Mass was approved.

Hettner (p. 146) considers these denarii to be pure copper and that Looking at most of the pieces, this opinion actually seems to be the case to justify. Only in exceptionally well-preserved specimens explain how some of the finds from Eller were transferred to the Berlin Mu- have passed seum, there are still traces of silver brew noticeable. Nevertheless, this small admixture has to be taken into account value, because in 349 it was still punishable by death, when they eliminated the mint officials from the copper ^). to- Of course, we immediately learn that this happened very often I have a lot of pieces so either no silver at all, or yes contained less than the emperor intended should. Since the defraudation consisted in leaving, not in sub- Beating the silver intended for the admixture must be done the metal mass that the mint officials use for processing was handed over, must have already contained silver. Without a doubt it was the Folles of earlier times that have now melted down and were used to make new coins. After that he would have Silver additives must on average be as large as under and before Diocletian, if not for the disloyalty of the officials would have reduced it'). Under Constantine the miliarense applied

1) Cod. Theod. IX^ 21, 6 Comperimus^ nonnuüos ßaturarios maiorinam pe- cuniam non minus criminosis quam crebre separato argento ab aere purgare, si quis igitur post haec fuerit in hac machinatione deprehensua, capitaiiter se fecisse cog- noscat,

2) According to Mommsen p. 795, the analysis of such a denarius should be 30^ have yielded silver. If there is no error in the chemical examination Yor has come, the piece in question has to be a very exceptional one had rich silver content. The copies that I had in front of me Almost all of them looked like pure copper, so they certainly contained a lot less silver; but there the metal mixture of the old Folles, which for the Denarius coinage was melted down, was very different, so the

The monetary policy of Diocletian and his successors. 129

from nominal *^2 wound silver 50 denarii or 2]^ pound copper (p. 84), which results in a ratio of the two metals like 180: 1. gives. So let's set the normal weight of the denarius 3 scruples = 3.51 grams, which is the maximum weight obtained StBcke corresponds, and the content of precious metal, which the Emperor assumed his coins, according to the probable Average of the old FoUes to about 1 V7ü ^^^^ 0.0527 grams, So we get a metal value of 13 grams for the Denai* Copper. Nominally it was %^ pounds of copper = 16.37 grams; therefore its metal content should probably be '^ of its nominal worth, exactly the same ratio that we have also observed in Constantine's silver coin (p. 69).

This coinage has been good for a little over ten years and is the same. continued on a massive scale. The coins of Crispus and the Fausta who died in 32G all show the same appearance and about the same weight too. On the other hand, these are those who at the inauguration of the new capital (330) were issued and the inscriptions Constantinapolis^ urbs Roma and pop, Romaninf wear, already lighter and smaller. The diameter is from 19 to 17*3 mm, the weight of 3Ji — 2]i on 3-2 Gr. sunk. Next to them are the Cente nionales from 11 - 14 mm and 1.4 - 0.8 sizes. occur more frequently. Ent- The same also applies to a large part of the copper coins bearing the name of the younger Caesars are beaten.

The effect of this coin policy can be seen in the various dug treasures. The beautiful FoUes of Diocletian were not been demonetized; There was no reason for that, since it was just could serve to the advantage of the imperial treasury if fully more important items arrived than they issued. In the treasures of Evenley and Falmouth, which soon after the beginning of the

It is easy for some of the newly issued coins to be different increase almost to the value of the billon. This leaves the average of course no lock.

Z<«iipchrifi 1(11 .N'uiiii^iiinliU. Wll. J

130 0. Seeck:

are buried due to coin deterioration^), they then appear also in large numbers, and also in the somewhat younger one Dalheim'). These were collected at a time when the... heavy coin still dominated traffic. In the treasure of Jersey (around 312) not only are the Tetrarchy's coins missing, but also those of Constantine and Maximinus as Caesars^; Even the coins from the first “Reduction” are too heavy in order to still be able to assert itself on the market. In the Bristol find, which probably belongs to the year 318^), and the Erdorfcr, which is a little later^), were only nor the very lightest folles mixed with denarii; in which of Salisbury Plain, which dates back to about the year 326*), and the At the same time as Eller ^ the former also disappeared; in that of Annecy, after the inauguration of Gonstantinople (330) was recovered, there was only one coin out of 3000 Piece of Maximian^). Considering that those Those who buried these sums of money certainly kept them for years

1) Mommsen 8. 822. Num. Chron. N. S. Y, 1865, p. 819. In the Schatze Ton Falmouth, Maximinus Daza was represented only as Caesar; whether also Constantin, cannot be seen from the report; Licinius was still missing. Neither pieces by Licinius nor Constantinus were found in Evenley Augustus.

3) Mommsen p. 822.

3) Joom. of the British archeology. Assoss. IV, 1848, p. 272. The treasure consisted of 400 bronzes, of which 28 were varieties of Constantinus Augustus, 4 by Licinius, 3 by Maximinus Augustus, 2 by Maximianus Augustus and Senior Augustus. The modulus of the latter can be seen from the description Don't realize that the lapel Genio populi Bomtmi comes in all sizes and weights occur. The isolated Trier Stfleke all belong to the emission, which we attributed to the years 309-318 have.

4) Num. Chron. III Ser. V, 188/>, S. lia Under 347 sticks were the Caesares, who were deployed on March 1, 317, only had 12 occur, which leads to the conclusion about time.

5) Westd. Magazine VII, p. 154.

6) Num. Chron. N. S. IX, p. 47. Among 1850 pieces were by Constantius Caesar, who was clothed in purple at the end of 324, only 46.

7) Westd. Magazine VII, 8. 153.

«S) M^moircs de la societ^ d'hist. de Gen^ve I, 1841, p. 940.

The monetary policy of Diocletian and his successors. 131

If you had saved up, you can estimate how quickly the heavier coins must be removed from circulation. In any case, speculators collected them and invested them melted, further proof that they are valuable money, not Sign money was.

Already in the treasures of Falmouth and Evenley, that is immediately after the coin deterioration began had taken, the small bronzes appear again with the Crown of rays, which were set out of course by Diocletian, and then also occur more or less frequently in the later ones on. Afterwards they must regain their previous validity in the year 307 be returned by law, a measure that certainly was as popular as it was profitable. Because these coins with their relatively high silver content were worth more than that bad news that the new rulers gave out, and could therefore only be welcomed by the public purse. But as soon as this became clear to the audience, These pieces should also be melted down. In the treasure From Bristol there were only 6 copies out of 347 coins with the ray crown, in which from Frome under 452 only 1 '), in the one by Weeze under 1718 only 2'), missing in the later ones them mostly whole').

Also the new coin deterioration, which around the year 330 occurred, the denarii, which had been issued since 313, quickly driven out of circulation. In the oldest treasures, which contain coins with ConstantinopoUs, from Frome, Erms- village and Dhron*), they are still very numerous; in those of In Annecy and Chepstow they seem to appear less frequently.

1) Nom. Chron. N. S. VI, 1866, p. 157.

2) West German magazine VII, p. 124.

8) If the Treasure of Niederweil (Mommsen p. 822) is an exception does, this must be based on very special circumstances. True- Its owners have apparently collected them for several generations and 10 types of Mttni that were still buried at the time where the treasure was buried was no longer circulating.

4) Westd. Magazine VII, p. 118.

9*

132 0. Seeck:

ten*); In the one from Weeze there are only 10 pieces under 1718 before 330 defeated, in which von Ollmuth no longer had any under 155, whether both treasures were buried under Constantin'). His sons followed the species for about twelve years passed on by her father; only emerged in 348 or a little earlier they agreed to a coinage reform'). Like Constantine himself had created orderly conditions for a while, that he stopped coining the previous nominal, the Follis, so his deteriorated denarius was now disposed of. A law of Constantius expressly tells us that it was in his time There were only two types of money in copper that were permitted to be issued was, the Centenionalis and the pecunia maiorina*). Leave both can easily be seen in the coins of his later period. know. The larger ones vary in diameter between 20 and 24 mm, the smaller ones between 17 and 19, in weight between 7.5 and 3.5 sizes, respectively. between 3 and 2. The embossing is therefore highly uneven, the addition of silver, according to the see to close, very low. Wear by the Majorini some have the numeral LXXII, which is hardly different can be interpreted as meaning that they should be considered %, ^^^ Miliarense'^). You want the smaller coins based on appearance and weight consider them to be half pieces of the larger ones; their name Centenionalis could be borrowed from the smallest piece of copper of earlier times be, although it had lost its meaning.

1) Mem. de Qen^Te I, p. 241; Num. Ghron. N. S. II, 1862, p. 330. The descriptions are very summary, but are in the directory The represented emperor on both occasions did not mention Licinius, from whom those good ones were mentioned Denarii are very common right now.

2) Westd. Magazine VII, p. 123.

3) About the determination of time see Hettner VII, p. 145. This is mentioned pecunia maiorina, which gives the whole reform its character, first in February 349 Cod. Theod. IX, 21, 6.

4) God Theod. IX, 23, 1 pccunicuy qutu more solito maiorinait vel centenio- ncUes communes appeüant, vel cetercu, quas vetitas esse cognoscunt,

5) Whether the Follis, which according to Cod. Theod. IX, 23, 1 § 1 as invoice unity continued, double that of Majorinus was considered or equal to him. was set, I dare not decide.

The monetary policy of Diocletiau and his successors. ] 33

In a law of 356, Coustautius mentions certain Copper coins, the use of which is punishable by property confiscation was forbidden^). It shows what this means the Cobham Park treasure, buried around 352*). The- The same contained only one piece of the 836 coins Constantin, and this wasn't from recent years of the emperor, but it was one of those light Folles who according to the size and weight of the seventy-second part of the con- stantius roughly correspond and are therefore easy to compare with them. are changing. From the small denarii from earlier times Not one of Gonstantin's sons was found, but all of the rest Coins belonged to the reformed system of 348. That they were recently issued as treasure in the earth was sunk, was evident from its excellent preservation. Con- Stantius and Gonstans acted just as violently, like Diocletian with the coinage reform of 296; they also have the old money is declared invalid and its use is prohibited iPenalty imposed; They didn't collect it either and the owner compensation is granted to the sitters. Because in the treasure of Rheinzabern^), which was recovered in 350, was found alongside 572 Coins from the previous system 16, which according to the new order were struck. So the big mass consists of forbidden money, apparently because the owner has the savings of his earlier years and always didn't want to just throw them away still hoped that they would, like the corresponding thing after that Diocletian's abdication was done by a milder person Kaiser set back on course wx*rden. If they were against new ones If a coin had been exchanged, he certainly wouldn't have it stored. By the way, his hopes did not disappoint him.

1) Cod. Theod. IX, 23, 1 fucufiiaa rtro miUi c inert jas trit u*v rrfitas contrectarfj quia in vsu jmhiico constittitas /netium oporUt easi'^ non mercem. placet denifjue, m/, ."/ fjnis j'orsitan nummifn pratUr eum, t/ui in usu pnhlico perstr veratf apud aliqutm mercatortin futrit inventory jisri dominio cum omnibus dtlin' qutntia Jacultatibux vindin'tin-.

2) Numbers Chron. 111 Sor. V, 18J55, p. 108.

3) West German Zeiischr. VII, p. 137.

134 ^' Seeck;

Because in two Trier treasures from the end of the fourth year In the 100th century the old coins, which were produced under Gonstantius, appear had had to hide, again on an equal footing with them later).

Immediately after the death of Gonstantius his coin system collapsed. The name of the pecunia maiorina only occurs under his government and also the coin, which he signifies disappears with his death. The Hanpt coin, which has been struck since 360, is a large one White copper piece with a diameter of 28 mm, which is between 9 and 8.50 gr. weighs, so it is very well adjusted. Apparently it represents one Renewal of the Diocletian Follis, which it externally resembles is very similar and also very close in weight. Him There are three smaller coins to the side in which you can probably find the Denarius, the Gentenionalis and the half Gentenionalis will be need to know. The latter two are characterized by that they are not the emperor's head, but the images of carry the gods. The denarius measures 23 - 25 mm and weighs 3.3 - 2.3; the Gentenionales 15-18 mm and about 1.5; the half Gentenionalis 11 - 14 mm and about 1 gr. Among the Later emperors are given the same nominals except of the smallest retained; the foot only changes insofar as the pieces become considerably lighter and smaller again. A radical change only occurred under Honorius, who in Year 395 abolished all larger coins and only the Gente nionalis still retained^). Since then, copper money has been used in... Western empires very rare, although perhaps a little less than that The holdings of our collections can be assumed. Because the whole small coins, which were the only ones in circulation at that time, are understandably not found easily, and since that Copper usually wears out much more than the precious metals Even if it is found, the Caesareans are often not closed recognize what makes the pieces unusable for collections.

1) Westd. Magazine VI, p. 150; 153.

2) Cod. Theod. IX, 23, 2.

The tired policy of Diocletian and his successors. 135

The Eastern Roman emperors also had theirs during this time Copper testing very limited. Beat from them too some only oentenionales, while others soon denarii, Soon Folles will appear next to it. Only under Anastasius does this occur Copper coins appear again en masse, but now show one whole

new character 0-

While until then the reverses of all Roman coins — only a part of the Diocletian Miliarensia makes one Exception - were decorated with images or symbols, next to which the value marks are only exceptionally completely certain. which dimensions appeared in field or section, fill them now as large Greek number letters the entire space of the Reverse. There are Af == 40, Ä = 20, / = 10, € = 5; only on that The smallest pieces, which represent the unity, lack a number. The coins with M measure 33-37 mm and weigh 14.2-17.8, those with K 25-27 mm and 7.8-9.2, those with / 15-16 mm and 1.9-3.3, those with 6 14-15 mm and 1.65-2.55, those without Value marks 8 - 12 mm and 0.45 - 0.85. Besides the big ones Coins with M and K also occur in much smaller sizes (from 23 —24 mm and 6.8—9 sizes, respectively. 19 - 20 mm and 3.9 - 4.6 sizes), which are designated with the same numbers, i.e. the same ones should represent value. They seem to be the big pieces to be at the same time, because as under Anastasius, so are found Even under Justinus both sizes side by side. Probably are the more extensive coins of pure copper, while the smaller ones contain an additive of silver and therefore that are made equivalent. By the appearance of the specimens, which I had in front of me, the difference could be seen Of course, we cannot recognize the chemical composition; but that Pure copper money was once again available in the sixth century has come down to us through Cassiodorus'), and the practice of

1) The innovation probably originated from Odoacer and from Anaitasius only imitated. Finder and Fricdlaendcr, contributions to the older MOnikonde, p. 131.

2) In his instructions for the mint officials (Var. VII, :^2) writes

136 0- Seeck:

Weisssiedens was so old and native in Anastasius' time that

that they have hardly been completely thrown overboard. Anyway

It had to be comfortable for the audience if it wasn't

always to drag with the awkward pieces of the first size

needed, but also smaller and more manageable coins

could use the same value. That the Forties Folios,

the twenty denarii, the ten centenionales, the ones

We have already seen numbers on page 81. By these,

Instead of eight as before, ten are now counted to the Centenionalis

and so the Miliarense was brought to 1000 Nummi

the decimal system is complete, at least in small coins

manufactured.

v.

Coin systems and courses.

Since the beginning of the third century, silver money has increasingly been alloyed with base metals and finally reduced to a copper coin, the few percent Silver contained and which only created a deceptive effect by boiling in acids whitish surface was given. With the deterioration As the money progressed, all travel and travel naturally increased. lost all debts and fixed income from her original values, but this movement probably does may have come to a certain standstill under Gallienus. Because the silver content of the coin was so low back then that if he had been degraded even further, Even white boiling would hardly have been possible. So you couldn't do it without going to pure copper deteriorate very much, causing their value, however low it may be was, but became relatively solid again. The better pieces had just melted down and the worst dominated

er: auri flatnma nulla iniuria permixtionis albescaty argenti color gratia candoHs arrideat, aeris ruhor in natlva qualitate permaneat. Whether it was before Anastasius

pure copper coins have yet to be determined remain because, as already highlighted on page 1 13 note 3, it does not work the appearance, but only through written or chemical products analyzes decide.

The military policy of Dioclctiaii and his successors. 137

(Ion market and determined the bid price *). The unclear reform Aurelian's attempts will not have changed this. Because as the treasure finds show, the old coins are in circulation remained, his stamp could be more valuable and careful of no use, but by using his money with the minor valuable, it was reduced to its price level with pulled. It was fortunate for the Roman Empire that it came to him In this way, new price fluctuations were avoided. Man had settled down with bad money after a conventional value had been fixed for it; increase this to want and a coin that is due to the uncontrolled The ability of their silver content to lead to new deteriorations challenged not to eliminate it completely, but just to eliminate something To beat better was a great folly. Also that pure Silver and copper were hardly minted at all and that Gold money is not because of its completely irregular weight was able to circulate (p. 39), which was fortunate, as this meant that White copper became the exclusive value meter. Because Fluctuations in the value of a means of payment come into play relationship with another equal much earlier and expressed more energetically than in the prices of basic necessities nisse; the banker who exchanges gold for silver and copper, knows how to better appreciate the metal content of a piece of money digen, as the farmer who puts his grain and meat on the market brings. Only when this one is brought to the bottom by that one value of the money that he had previously accepted in good faith was used to, is made aware, also begins he becomes suspicious. A uniform means of payment is therefore

1) In the Orscholz treasure, which was buried around 270, were found There were no 2,844 white copper coins that were struck before 253 (Wcstd. Zeitschr. VI, p. 127). Also in the Alommsen p. 80vS Net treasures, as far as they have been recovered after Gallionus, are missing the older ones Coins appear either whole or only in isolated copies. This is a sign of how quickly and completely the "better" money, which had been coined before Gallienus, from the bad^ from the Traffic was displaced.

138 ^- Seeck:

always relatively stable because there is no benchmark to which the fluctuations of its actual value are clear and would find expression in a commonly understandable way. Has one like that Diocletian first created it and so, because he wanted to improve those brought about a disastrous general increase in prices, which he carried out to oppose the Edictum de pretiü verum venalium in vain wanted to kick*).

That the white copper pieces represent quite bearable money Diocletian himself recognized it by putting it in the first twelve years of his reign despite the two coins reforms that occurred during this period were left unchanged. free There are two significant problems associated with this: firstly It made every large payment extremely inconvenient, and secondly Of course it wasn't taken abroad, so that Trade beyond the borders of the empire became pure had to organize exchange transactions. This explains why Dio- Cletian's innovations were used in the metal, which was used in the Wholesale plays the main role. Very soon after starting During his reign he created a gold coin of a firmly standardized design. important (p. 41). Strangely enough, he chose for his input division of the pound the number 70, although there is no third party can be divided into quarters and a metal quantum is obtained couldn't even be weighed with Roman weights'). If This is not based on a superstitious preference for the number seven lies - but such a thing does not exist in any other institution. tition of the Diocletian period is noticeable - this also leaves it strange, however well-certified fact, is probably just an explanation clarification: In Nicomedia, where the reform seems to have started was closed'), people paid for the pound of gold at that time

1) Lact, de mort. pcrs. 7 : Idem cum variis iniguitatibus immense faceret caritatem, legem pretiis rerum vencdium stcUuere eonatiu est.

2) \^ Pound is 4^^ Scropel or 4 Scmpel according to Roman weight ^^5 Siliquae; So a completely incommensurable size.

3) Diocletian was there on April 1, 285, when he met Maadmian cum Caesar did. Studies on the history of Diocletian and Gonstantin. Yearb. f. class. Philol. 1889. P. 633.

The Mauz policy of Diocletian and his successors. I39

a sum of denarii, which is the easiest to divide by 70 cash, maybe 49,000 or what I think is more likely hold, 42,000. Because since they only counted on white copper, (8. 52), then the gold piece, if it is money at all, must be and should not be another minted bar, one correct number of denarii are equated, and that Diodetian did not ignore this insight, as we have seen above (p. 45) already seen.

The new big money certainly came from traders joyfully welcomed and eagerly desired; but this was exactly what had to happen The result is that the gold coin will soon become more popular stood as one-seventieth of a pound of uncoined gold had. Furthermore, a strong coinage also increases this Price of the metal itself, insofar as it represents a considerable portion of the same and its previous use withdrawn. Finally, it is very questionable whether the denarius value of the gold, which was valid in Nicomedia, also The results of the other cities and provinces proved: The value of the seventieth, which it must have been like, had to start to waver soon, and a coin, that of the general measure of value, the denarius, in none stood in an unchanging relationship, could not control the market hold. Sic probably soon disappeared into the cellars Bankers, and those who needed them for their foreign financial interests, had to buy them with a high premium.

Diocletian could not consider his reform to have failed entirely hold on, simply because his new money is so welcome to everyone was; but the fact that he had missed something there still had to be in his mind- that makes sense. So he probably reached for one at 286 Recipe that one of his court scholars came up with for him (p. 62). In ancient times the coin system was impeccable; it came So just a matter of faithfully following the same example. increase. At that time there had been a piece of silver worth /^^ pounds, which fell into 16 pieces of copper and formed \r^ of the gold piece. All of this could easily be reintroduced; the only one

140 0. Soeck:

The difficulty was that you had to get the gold and copper piece not, like the silver coin, had to be created new, but with given sizes had to be calculated. That *^%e pounds of silver to was much to equate to one-seventieth of a pound of gold it was clear; but Diocletian could not escape Finally, to withdraw the coin that was barely issued, and make them part of the gold pieces to be newly minted making it was very difficult because /^“ does not become one any other fraction of the pound other than the impossible five- and thirtyths can be put into a comfortable ratio. So He then resorted to a very strange means of information: he made the gold piece heavier, but only enough so that the The difference compared to the older coins is not even noticeable emerged, and while these were very rainy adjusted *), He only raised the new money based on an average weight beat, over which individual specimens rose just as much, how others sank beneath it (p. 43). Approached in this way he prefers the easiest sixtieths to the seventieths so much that they could hardly be distinguished from these even with the help of the balance, and at the same time made both types of coins the same size as the initial and all external aspects of the coinage are mutually change similarly (p. 49). This can have had no other purpose than that both circulate next to each other without distinction and should be taken at the same value. True- Apparently the imperial coffers were also instructed, all of them Gold pieces that bore Diocletian's and Maximian's portraits, as long as they were uncircumcised, they are considered full sixtieths let.

Under ordinary circumstances this would result must mean that either the new money was melted down

1) The Seventieth] of the Berlin Museum weighs 4.74; 4.70; 4.69; 4,G3, So they all come as close to the normal weight of 4.68 as this does Coin technology was only possible at that time. If from the specimens Missongs and Elberlings individual up to 4.25; 4.15 and 4 descend, like this they will just be worn out or trimmed. p. 41.

The tired policy of Diocletian and his successors. 141

or the old one is transferred en masse to the state to the detriment of the fiscus cash registers came in; but neither of these seems to have occurred be. Because if Diocletian with his strange experiment had a bad experience the first time, so would he did not repeat it a few years later (p. 44). The reason The reason for this happy success was probably that the gold coin very popular and the market by the seventieth, which had only been minted for a short time and was not yet saturated. So the sixtieths weren't melted down because they were used as coins were still worth more despite their lighter counterparts because as raw metal; Don't treat the seventieth with over- flow to the imperial coffers at a moderate speed, because they could not yet be spared for trade. The reform of 286 was probably even successful. that the gold coin actually entered the market. The heavier money will continue to be hidden or have flown abroad, but until now too the large payments were only made in copper now you have to add the seventieth because it has become undervalued were. This also applies to their relationship to the denarius. Because since the new valuation of the same is %“(, gold piece in view was decided on the sixtieth, she had to despite that low rate for the seventieth either suitable or not at all still be a bit too high. So Diocletian suddenly saw his Pieces of gold that have so far kept so timidly away from the market had, circulated merrily, and since one judged by their outward appearance couldn't seem to recognize that it was only those which he had condemned to gradual disappearance, like this he had to consider his second reform to be very successful.

However, this joy shouldn't last long. This Silver was set in the ratio of 1:15.62 to gold; a piece of silver should be worth 16 folles or 32 denarii (p. 62): the The former rating was too low under all circumstances second at least according to the money rates at the time. Although had In the earlier imperial era, HJ Kupferas had no decency for

142 0. Seeck:

took a piece of silver that was equal in weight to Diocletian was equal, and the FoUis was due to his, albeit wrestle, silver content is undoubtedly superior to the ace in metal value. But this was a coin made of good shot and grain while with that one you never knew how much precious metal the individual piece contained. And precisely because of the new silver money everyone was welcome and over the last year In the 100s, the scale of valuation for valuable coins was completely exceeded had lost, it depressed the price of the old white copper still far below its real value. So wanted the silver never really came into circulation, and after a few Years later, the gold disappeared again. Because after that old seventieth gradually withdrawn from the state coffers and sixtieths were issued in their place, he wanted Eupferdcnar's official approach no longer fits these. Since it nevertheless remained legal currency and even the largest payments could be made therein, So you didn't pay in silver and gold, but in these were still hiding with the bankers, just for to be brought out for foreign trade. In market traffic So Diocietian's reforms would hardly change anything have, if not the price loss of the Follis against the coins of precious metal its real or supposed inferior value ity also brought to the attention of the masses of the people and This means the prices, which still vary exclusively expressed in white copper (p. 53). In order to increase the value of copper money, dio- cletian more than doubled its weight in 296 and at the same time explained with the ruthless harshness that gave him was peculiar, the older pieces with the ray crown were considered invalid (p. 1 16). Would the same be the case with the gold or SUber coin? came, it would still have its value if melted down preserved; With the white copper, on the other hand, there was only metal then roughly equivalent to a piece of money if you use yours Content of silver from which copper was precipitated; but this was one

The tired policy of Diocletian and his successors. 143

extensive operation, which is only possible with large quantities without Extend load Hess. Anyone who only owned a few hundred pieces In the best case scenario, she could be sold to a company for a ridiculous price. taker to start melting down the old coins factory operation. If Diocletian had intended his subjects the worthlessness of white copper money To demonstrate ad oculoa, he would certainly have no one to do so can find a better way than this supposed reform. If the emperor takes the money that he himself previously had with his Bilde had had it struck, now in use with the stroke of a pen. turned into loose pieces of bad metal mixture, so could no one will stand for it not being himself or someone else in the future his successors with the newly issued white copper coins will do the same. That's why they came up with this the greatest distrust and their price sank even lower, than he did with the crown of rays in the worse pieces had stood. This results from the fact that only after the Monetary reform of 296 caused price increases despite good harvests (Edict de pret. Z. 20) increased to such a frightening extent that to make that disastrous edict necessary. Without a doubt it was Abolition of the old money is the most effective of the “many ways”. Inconveniences^ through which, according to Lactanz, Diocletian himself He was indebted to high prices (p. 138 note 1).

As Diocletian in 301 to regulate the prices of all goods he dared, and at the same time tried, to challenge the shattered coinage situation to put back in order. The silver piece has now been returned the model of the Augustan period instead of Vis«» on 7,000 of the gold pound and then given the name Miliarense decreed, which it has preserved throughout all subsequent times (p. 59). After that Horace sayings: dum vüant atuUi vUia, in contraria currunt, This standardization was much higher than the market value of silver when the former lagged behind. Had in the reform of 286 the return to the golden ones tents of antiquity found in the fact that they gave him the weight of the silver piece and the ratios of gold, silver

144 0. Scock:

and slavishly imitated copper coins, or so it was now believed to better follow his shining example by: value ratio of the two precious metals in the first year which had counted for a hundred, was transferred to the fourth without considering it (p. 60). With regard to the copper money, the rate was taken into account, but not to a sufficient extent. Diocletian standardized the gold pounds to 25,000 Folles, so to 1000 more than 286, but always not yet high enough. Since the numbers of 1000 Miliarensia and 25,000 copper pieces were indivisible by 60, so it was the gold piece is increased to ^ij^ pounds, whereby the convenient unity was created into 20 pieces of silver and 1000 denarii (p. 44). The Dalmatian slave's son who never feels Roman had learned and had no respect for what had been handed down, also didn't shy away from the Romans' ancient duodecimal system to throw overboard. The purely decimal division, which which seemed to him, not without reason, to be more rational, was now in the Coin carried out: the gold pound should be divided into 1000 pieces of silver, the gold piece breaks down into 1000 denarii, the miliarense into 100 of the smallest copper coins, which bear the name of the cente nionalis meant the half piece of the denarius (p. 58). Since the silver and gold money had still withheld from the market and the large payments should still be made in copper coins. followed, a legal large was also made for this Unit created in the “sack” or follia*) of 100,000 As or 3125 small FoUes contained and equal to one eighth of the gold pound should apply (p. 85).

Diocletian also meant the gold sixtieth in the five- umpteenth! to be able to transfer, as before the seventieth into that Sixtieth. He therefore gave his new coins back the same size and the same shape as the old one, yes him

1) When the dividing line took place under Frederick the Great and his successors After the coin had been increased excessively, it also circulated in Prussia Larger payments in public funds or well-known financial institutions shaft sealed bags. Schönberg, Handbook of Political Eco- nomy. I-* p. 354.

The Monzpolitik of Diocletian and Spiner's successors. ]45

even avoided distinguishing them with value numbers, which he did in the sixtieths, even if only in individual pieces had done. But this time the desired mix-up happened not enter. There were already enough old Ooldstocks to go around to no longer make people appear indispensable. The advantages suspension, which had made the coinage reform of 286 possible, So it didn't apply now, and without a doubt the majority migrated the fiftieth from the coin directly into the melting pot. Diocletian had ended his incessant “reforming” with this given, instead of the minted gold bars, a coin from to create uniform weight, and as far as it depends on him came, now showed his gold pieces in imperceptible transitions all weights from 4.6 to 6.7 grams. Because they are no longer could be estimated without daring, they would be negligible become minted bars, and through three reforms, which had repeatedly caused unrest in the market, you would have arrived at the same place from where you started was, if the constraints of the circumstances did not hinder the successes imperial wisdom would have been partially thwarted.

Many of the seventieths had been drafted, others flowed to Britain, where, as we shall see presently, This piece of money always remained the dominant gold coin was. Since their imprint only lasted a very short time, their number must have gradually become so small that they their light weight and their external similarity to the There is still some uncertainty surrounding the heavier gold pieces. but were no longer able to influence it significantly. The fiftieths and those sixtieths which are the average If the average weight is exceeded, they will all be gone very quickly. disappeared*). So almost only coins remained

1) Of the four-fiftieths whose state of preservation I know, are three punched to be worn on a cord around the neck. This ahermünzte Sixtieth!, which is described on p. 48, bears the remains of one Henkels, which was attached to it for the same purpose. You were therefore kept as pieces of jewelry, not as coins, and only

ZeiUchnft far NnmiiimRtik. XVU. 10

146 0. Seeck:

Weight ^^^ pounds or slightly less and at least was uniform enough^ that they could be taken without daring could. Dioclctian himself soon convinced himself that his heavier pieces of gold could not be held, and went later At least in 303 it switched back to sixtieth coinage (p. 42). But that Valuation of the gold piece at 20 miliarensia and 1000 denarii, which was calculated to the fiftieth, also remained tacit for its inferior, but for that very reason victorious secondary buhler in force (p. 61). Like the whole Edict of 301 into the water fell and all prices far exceeded the maximum set by the emperor had decreed for them, the price also rose of the gold pound from 50,000 to 60,000 denarii and from 1000 to 1200 Miliarensia, without Diocletian opposing this further stepped. And this coinage system that the emperor did not create but what had been forced upon him seemed to prove its worth to want. The face value of the copper coin corresponded to hers Rates, even if the silver piece is still a little higher should be considered as its metal value, then this was money but neither was it struck in such large numbers, nor did it flow like that Distrust, like the white copper, could be considered quite well undervalued coin kursircii, although not as such was meant. Of course, this order would also have changed of the monetary system can no longer assert itself until new ones Price fluctuations changed the value of the metals; but Diocletian's successors ensured that she was put to the test was spared for its durability.

In Britain were the seventieths of Garausius and AUectus continued to be coined until her fall (296) (p. 42), but it was

As a result, the gold coins escaped the melting pot of the Dioclotian period, which the Berlin museum owns, half perforated or provided with handles. The 21 remaining, at who lack this characteristic and from whom one can therefore assume that that they remained at least partially in circulation, weigh: 6.71; 5.66; 5.52; 5.41; 5.40 (2); 5.39; 5.36; 5.30 (2); 5.29; 5.28; 5.26; 5.25; 5.22; 5.19; 5.02; 5; 4.97; 4.75; 4.70. So only three rise above normal weight ▼on 5.45; eighteen remain more or less behind.

The monetary policy of Diocletian and his successors. 147

their coin was probably denied entry into the rest of the empire, so that she remained confined to the island. Since the Diocle tian pieces penetrated en masse, it must be easy here There must have been enough gold money available, in order to meet the needs of the market, from which self-evident It obviously follows that it is the heavier coin, which according to the law but should only represent the same value, does not arise Hess. As after the abdication of Diocletian Gonstantius Chlorus in 306 translated to Britain to prevent an invasion by the Picts and To fend off Scots, the observation must have caught his eye - urge that the sixtieths, once they got to the island, disappeared without a trace and only a seventieth was on the market managed to hold. This was probably the reason why he became the oldest Diocletian shortly before his death see currency returned (p. 47), and his son is this Example followed, except that it was used in place of the seventieth Seventy-second bet. Firstly, he brought his gold piece in a comfortable ratio to the duodecimal Roman structure weight system ->- four scruples weigh each other exactly, which is what %i pounds was hardly possible — ; secondly, he achieved that his The coin was not noticeably heavier than the lightest of the coins. seized seventieths and are not pushed out of the market by this could be. There for the confiscation and re-coining of the old ones Coins in those troubled times the money was missing and the currency The British provinces do not depend on the long term of the mainland, so a ruler who could knew the island's financial conditions and took them into consideration hardly had to act any differently. Because the seventieth part For this reason alone, it was not possible to degrade the sixtieths possible because they are not externally different from these. divorced. However, if they are not legally defined differently Hesse, as by their weight, would have their devalviration to it led to every piece of gold being weighed on the market should have looked into what to do with a return to the minted

Ingots of the pre-diocesan period would have been equivalent.

10*

148 0-Seeck:

In this respect, the creation of the solidus was a carefully considered, truly reformatory thought, which also means lasting success was not missing; but the implementation of it was more smart than honest. The seventy-seconds of the sixtieths to distinguish clearly, and what is the normal weight of the two coins this seemed to demand that those on )( of these, was not really feasible. Because the Solidi were precisely adjusted Diocletian coins minted to an average weight, and since most of the specimens which exceeded the same were soon melted down, the majority of those in the market remained return the pieces behind it. For ^ this ge- lower sixtieths, the solidus was too heavy and would be if the state treasury only took it for this amount had, in turn, disappeared into the melting pot. That's how it went Constantin suggests turning the tables. He minted his coins Sixtieths deceptively similar (p. 50), he even hit with whole the same types and in the same mints Solidi and Six- tenths next to each other*), so that they are distinguished by nothing but you weight could be distinguished. Apparently the intention was both to circulate as equivalent and until the easier ones coins had displaced the heavier ones to gain the advantage enjoy that the state coffers from five old pieces that they income, could always make six new ones, which they took to the issue the same nominal value. It was just a business Of course, this was at the expense of the co-regents, as they too continued the sixtieth minting. But with this the tense relationship between the rulers of the Constantine was in charge of various parts of the empire Not having to take colleagues into account. Why were She is also so stubborn to embrace his new and undeniably practical Do not connect the gold feet!

1) This is proven by the two Tarraconensian gold coins of Maxentius (pp. 48 and 49), which, given the short period of time that marked the imprint of the Roman usurpers in Constantine's empire, be completely equal have to.

The tired policy of Diocletian and his successors. 149

This changed when, after the fall of Maxentius (312) Codstantin and Licinius concluded an alliance and friendship. The ruler now struck for the love of his new friend West's Solidi are very small, so that they stand out from the surrounding large sixtieths of the oriental half of the empire and clearly separated. But this didn't last much longer than that a year. In 314 the allies were already enemies opposite, and even after the peace agreement they always stayed in a more than cool relationship. The result was that the... Solidi became very similar to the sixtieths of Licinius and streamed inexorably into his part of the empire, his gold either displacing coins or at least depressing their price. Nevertheless, he stubbornly stuck to his gold foot, in order not to make any concessions to the hated rival, and only Gonstantin's autocracy brought the empire a uniform gold currency that would then last for centuries changed.

Has the price of silver and copper money ever been so low? has fallen that you get the seventy-second of what it used to be Sixtieths, for 20 Miliarensia and 500 Diocletian FoUes we don't know. The attempt seems to have only been made in Britain and only there for a short time time. The Solidi initially sneaked onto the mainland only secretly among the sixtieth] with the claim, to be equal to them, and when they became too numerous were there to maintain the deception The silver minting had already stopped and the Follis was ready fallen below its Diocletian metal content, that he himself could no longer be regarded as a gold pound.

As after the death of Constantius Chlorus (306) everyone Emperor only saw his fellow emperors as enemies, on their behalf He always had to be prepared for an attack because they were there enormous armor, which this situation made necessary, the rulers of all parts of the empire in the most pressing financial need. They helped themselves through that ruthless coin deterioration,

150 0. Seeck:

through which in less than five years the white copper piece, which was still the most elegant means of payment, almost disappeared a third of its previous metal content was reduced (p. 124), that under these circumstances a fixed behavior- the conversion of the same to gold coins was not maintained, stands by itself; this must come from market traffic have withdrawn completely. When the emperors coined their coins not, like that of silver money, completely abandoned, not even once If the gold pieces were beaten or alloyed more easily, this happened probably only because they are responsible for recruiting mercenaries barbarian countries needed a means of payment that could also be used by Germanic peoples, Sarmatians and Arabs knew and gladly accepted.

When Gonstantin abolished the devalued Follis around 313 and replaced by the relatively evenly minted denarius (p. 126), This changed nothing more than that in the coin situation the unit of account was again a fixed one for as long as it lasted. Gold also had no place in the new monetary system. Within the empire, people calculated and paid in denarii, which are given and taken in bags for large amounts were: the solidus was only there for the barbarians. For this one The emperor also needed precious metals and therefore wrote taxes in gold and silver; but their payment was viewed as a delivery in kind, not as a cash payment at will in full weight coin or in raw metal be provided (p. 53).

Of course, silver taxes are not always in full pounds Gonstantin found it towards the end of his life Government announced that a portion of the pound should be converted into silver create that was intended to have the same position in this metal, like the solidus in gold. But during this his was always given full importance in accordance with the high value, the emperor treated the silver piece as a separate coin and set its metal content at 1/2 of its nominal value (p. 69). Even in Diocletian's last years this was miliarense not quite fully functional (p. 61), and nonetheless

The monetary policy of Diocletian and his successors. 151

In 68 everyone went to their legal course without any decorum. taken. Constantin used this experience to... Financial distress, which has already led to a new deterioration the copper coin had forced, also from the silver minting to take advantage. Whether it was determined at the same time that this Money can only be accepted up to a certain amount We don't, but such a provision is unlikely to happen for the time being may have been necessary. Because although the new coins... Diocletiani see Miliarensia, from which they also get the name held, were the same in shape and weight and related to them no doubt mixed and should mix was the number of Silver pieces based on what we have in our collections still sparse enough that they don't even make large payments. could be applied. You would have to have the necessary number of coins to get together, probably have to pay a premium, which has the advantage of its low weight would have devoured again. They can therefore be found in sometimes alongside the buried silver treasures of that time raw bait with the money, a sign that it is used as a means of payment couldn't be completely dispensed with.

The new miliarense, like the solidus, should be /^2 ^^^ pounds apply. The weight of the silver was therefore divided into a convenient portion- in relation, but not to the gold weight or the gold price coin. Because if on the solidus 14 (p. 69), on the new Goldpfuud from 84 Solidi (p. 55) 1176 Miliarensia went, like this This corresponds neither to the duodecimal nor to any other other rational egg healing system, but they are simple the numbers resulting from the random price ratio of Gold and silver resulted.

The copper coin was now also worth ^4^ of the pound Coppers explained (p. 84), but retained their silver addition. She too Like silver money, the metal value remained about 1/4 behind theirs face value back (p. 1 29). Nevertheless, she was not considered a vagina coin, probeiii still had to be in the largest amounts be taken. When therefore the emperor through the construction and

152 ö- Seeck:

the decoration of his new capital in financial embarrassment came, he could once again take refuge in the deterioration of the Eupfergeld (p. 129), and again a general one becomes Price increase may have been the result.

But no matter how hard they press on their subjects Like, they found a coin system no longer to be disrupted because Constantin had renounced such a thing altogether. gold, silver and copper money separated like oil and water, and from that The irrational relationship between miliarense and solidus results in that the emperor didn't want it any other way. The Valuation of the denarius at }^ Miliarense seems to be consistent with the name to have persisted (p. 82), but only that By name, since no one was forced to give a silver piece for To take 50 denarii. Any guilt now had to be in that person Metal to be paid in which it was contracted, if not the recipient voluntarily agreed to do so accept anything else at any rate for it. In the same ones According to laws, payments to the state were partly in gold, partly in silver, partly in copper^); yes, even for reception and booking of the money was made at the imperial court for each metal special law firms were created (p. 57). As a legal payment All three were valid, but it was not possible according to the determination

1) Cod. Theod. VI, 4, 5 from the year 340: Primae praeturae, quae Flaviali nuncupatione signature j XXV miliwrn follium et L lihrarum argenti erogationem tumptusque praescripsimus ; in secunda vero Constantiniana XX muia foÜium et XL libras argenti largiendas esse censemus; tertia triumphalis XV müia follium XXX Argenti libras sine incommodo editoris expendat. Cod. Theod. VI, 4, 13 stands the invoice for pledges of silver and gold suddenly side by side. This is the view, which is also the script. Aug. dominated, if they show the salaries of civil servants in their forged documents usually determined according to the following scheme: aureos Antoninianos centumj argenteos Aurelianos mille, aereos Philippeos decem milia. The names of the coins are invented, and that the divorce according to the three metals not the third Century, shows the salary that £umeniu8 as a master Memoriae referred to (p. 53 note 1). This is further evidence that that those imperial biographies were written much later than they imagine give appearance. See Dessau, About the Time and Personality of the Scriptores Historiae Augustae. Hermes XXIV, p. 337.

The military policy of Diodetian and his successors. 153

the convenience of the payer, one substitutes for the other, but each time it required permission and a specific but rather standardization of the value ratio according to which the metals or types of money should be taken for each other*). On the effort to convert the coins of the lesser metals into one appropriate and lasting sharing relationship with those of the higher Diocletian's reforms had failed to bring value; Constantin had recognized success as impossible and refrained from making similar attempts.

His sons would be less capable of renunciation. They did the silver piece for ^j^^ of the solidus (p. 68), the largest copper coin to !^2 d^s miliarense (p. 132) and thus introduced the duodecimal system to full domination. But instead of silver and copper money working to redesign the standard coin so that its value does not increase according to their metal content, but according to the amount of gold they represented, would have been measured, they suggested more the opposite way. Did Constantin have that? If both lesser metals are minted at an inferior value, then they now increased the weight of the silver and copper coins, so that their metal value corresponds to the fixed proportion Solidus really corresponds (p. 71). The next episode of this The measure was that the money that was in front of the coin The reform of 348 was defeated because it conformed to the new system didn't add, now had to eliminate it. This happened with still more cruel ruthlessness than Diocletian once faced had shown: the old coins were not only declared invalid explained, but their use even carries the penalty of imprisonment. magesconfiscation is documented (p. 133). But the feliciurn temporum re- parative which announce the inscriptions on the new copper pieces threatened, did not want to enter. The Siliqua was the double

1) Cod. Theod. VIII, 4, 27: Pro singulis libris argenti^ quaa primipiiares viris spectabilibtu ducihus sportulae gratia praestant^ qutUtmi soUdi praebeantur, si non ipsi argentum qfferre sua sponte mahterint. XIII, 2 1 : lubemvs, ut pro argenti iummaf quam quis thesauri* fuerat inlaturus, infertndi auri acciptaf facuticUemy ita ut pro singulU libris argenti quinos aoHdos inferat.

154 0. Seeck;

would give up what was expected of her, ^,20 pounds of silver and at the same time to represent Vfow pounds of gold, not up to the task. So how the price ratios of the two metals compare to each other postponed, which was inevitable sooner or later them to be '^4 of the solidus, and the same applies from the copper money. If you also take into account the extremely deficient careful adjustment of the silver and copper pieces into consideration, so you will understand that this coin system is not either could last for a long time. Julian is also there Order of Constantine returned, which then changed everything has remained essentially unchanged (p. 134).

Diocletian's monetary systems were always down to earth declining values of the copper pieces failed; that, which Constantius and Constans had created, should be destroyed by the opposite price movement. While in the fourth and fifth centuries silver and Surely fluctuating up and down, the price of the copper coin rose continuously. Did the denarius have dio- cletian's Yoooo gold pound or 1.52 pfennigs, it said he already 396 on %tono gold pounds or 2.54 pfennigs, and 558 even on J^5 920 gold pounds or 3.52 pfennigs (p. 79). The reasons for this its peculiar appearance can be determined with certainty with our little knowledge of economic life impossible at that time; but at least some guesses we are allowed.

Gold is the means of payment of the higher culture through the work of previous centuries large capitals lien has accumulated and is therefore used to dealing with large ones to calculate values; Barbarian peoples, on the other hand, do that Silver in front. How Asian trade is preferred these days- wisely moved in this metal, so in ancient times the Ger- manic^) and probably also the Persian. If the

1) Tacit. Gen. 5: Argentum qtwque magis qwtm aumm stguuniurf nuüa qffectione animi^ sed quia numerus argenteorum facior utui ttt promiseua ac vilia mercantibus.

The Monzpolitlk Diocletian and his successors. 155

Barbarians, not even the Persian kings excluded, gold coins either not struck at all or only struck very sparingly, like this It certainly didn't happen because they had exclusive rights on what the Roman emperors claimed for themselves took, recognized ^) - because a sovereign right only exists if where one has the power to protect it - but because in theirs Countries have little need for such a valuable medium of exchange was. Nevertheless, the solidus gained popularity in Roman foreign countries trade the dominant position; but without a doubt this had His only reason is that he is the only one since Gonstantin was a coin whose weight always remained the same and yours The nominal values corresponded completely. That Miliarense and Siliqua, although one is inferior. the other is very poorly adjusted was, but still had a course beyond the borders of the empire simply comes from the barbarians' preference for the lesser metal. Nevertheless, they must, if not completely, at least have been largely displaced by the solidus, and since their outflow abroad was thus inhibited, the The result was a decline in the value of silver in the Roman Empire itself. Of course it went down even more once the wars started borders or the unrest within the barbarian countries the usual measure grew and with it trade not just, as was almost always the case, on individuals places of the empire's borders, but on a more extensive one Line was completely broken. It is certainly not case that the symptoms of a noticeable retreat of the Silver value since the year 375, i.e. h. since the beginning of the great migration of peoples, accumulate') and that shortly after the death of Theodosius, i.e. around the time when the rest until

1) Mommsen 8. 748 ff.

2) Around 375, Valentinian banned the export of gold, which in any case refers to one Gold prices are rising. Cod. Just. IV, 63, 2: Non solum aumm bar-

baris minime praebeatur^ sed etiam, si apud eos inventory fueritf subtUi auferaiur ingenio, »i ulterius aumm per mancipiis vel guibuscumque sptciebus ad barbaricum futrit transUUum a mercatoribuSf non tarn damnu^ sed suppUciis sttbiugentvr. About

the price fluctuations under Gratian and Valentinian II. see p. 80.

156 0. Seeck:

TO a certain extent the course was restored rose again to its old height; that he was in the beginning of the fifth century, when all border lines were broken, sinks even lower and seems to be gradually recovering clarify the conditions again*).

The reasons must be given for the price changes in copper money may have been different, simply because there is no wavering here. noticable, but rather the increase is completely constant. In any case, the conditions of the metal production, which we are unfortunately very concerned about are inadequately competent. But like all art and science schaft, was undoubtedly in the fourth and fifth centuries also the technology of mining fell; and yet it would have even an increase in the same is required in order to reduce the mines parts that were easier to work with over the centuries were built to maintain their old yield capacity. To that the terribly widespread defraudations almost came of all civil servants who monitor the profitability of every state-owned company and probably also the larger private companies impaired. It is a characteristic sign of this deep decline that Valentinian I stopped gold mining in the fiscal mines exempted every private individual and only for that the right of first refusal and a very large rental payment for the State in mind '). When the emperor brings his bill with him found to exploit his gold mines in this way, so must State mining has come a long way*), and it

1) In 397 the ratio of silver to gold was 1:14.4, i.e. exactly the same Yrrelation according to which Constantius and Constans in 843 the miliarense of ](o deposit on ]{^ of the solidus of )/, pounds standardized (p. 70). That was 422 Y ratio 1: 18, under Justinian ¥rieder 1: 14.4. See p. 80.

2) Cod. Theod. X, 19, 3.

3) What are the production costs of the MetaUe even in the best ones Rodbertns shows that the times of the Roman Empire were value of money in antiquity, Hildebrands Jahrb. f. NationalOkon. u. Statistics XY, p. 182 ff. When the silver mines in the second century t. BC didn't yet deliver 6^ net income, it didn't take much to achieve that To make mining completely unproductive.

The monetary policy of Diocletian and his successors. 157

It is in the nature of things that the decline in the affect the price of its inferior products even more had to be than that of gold and silver. Because on the one hand will Lesser substances are consumed in far greater quantities, lost and thrown away, the need for replacement is therefore a larger; on the other hand, the very name of the most precious me- talle such violence that it affects both the state and the Encourage private individuals to attract them to a much higher degree had to, than the other mining products, even if these were actually more profitable. If you mountain If male businesses enter into Hess, this will certainly happen rather quarries'), copper and lead mines, than gold and must have been silver mines. As a result, the market mor colossally increased in price'), that's how it is with the Copper would have been no different. Already under Diocletian would have This probably made itself felt, if not first the joy of the new gold and silver coins their appreciation exaggeratedly increased, then the distrust, which is his caused foolish measures against the white copper money, would have depressed its course. Furthermore, Dio- cletian, by declaring the old coins invalid, and his successors, as they shaped the new ones more and more easily, a mass melting of the copper money, which Demand for raw metal even without significant supplies from the

1) The extent to which the operation of the quarries had become disastrous can be seen from the well-known fact that even back then, despite the strictest Legal prohibitions on demolishing the public buildings of earlier times began to produce building materials from them. That he has a city not to have it paved with stones that he quarried from the mountains An official under Constantine believes that I robbed ancient monuments a deed so rare and praiseworthy that he marked it with an inscription CIL believes that it has to be announced to posterity. X, 1199: Civitatem Äbellam nuda ante soli de/ormitate sordentem ailicibus e montibus excisis non e dirutU monu* mentis advectis constemendam omandamque curavit,

2) Cod. Theod. X, 19, 3: Marmorum cupidüate in inmensum quoddam s€ucorum pretia aucta sunt. This is probably also the reason why since then At the end of the third century the inscriptions became increasingly rare.

158 0. Seeck;

Borgwerken had to cover for the time being. But when this high- After flooding got lost, there was of course an increase in the copper price. Already under Gonstantius II, who never It was found that the types of coins struck very unevenly It's a good idea if you use the heavier copper pieces melted down, and the emperor had to forbid it on pain of death^). Of course this didn't help; Already in 371 Valentinian saw himself cause to repeat the threat of punishment, and at the same time he added, to give the Mttnz destroyers at least part of their winnes to rob that remelted copper neither at Tax payments taken for any other purposes ^), so it should be completely worthless. How to go through this arrangement, how to do it by name could distinguish this copper from the other - for example due to the lead content mixed into the coins of that time was? — , unfortunately it is not passed down to us. But if that The law wasn't a blow in the water, so it had to be done again a large amount of copper is withdrawn from use and the price of the metal will rise even more. That's how it is, whether just as Valentinian made his copper money smaller than Julian, and the deterioration of coinage under his successors still continues increased, but the price of the denarius rose steadily, because the decrease in metal content is due to the increase in Metal value was still predominant.

But not only the decline in copper production, but also the lack of small coin must be attributed to this may have been an influence. Since the large households have the most

1) Cod. Theod. IX, 23, 1 from J. 356: Quieumque vei conflart pecunias vel ad diversa vendendi causa transferre detegituvt sacrilegii sententiam suheai et capite Plecttuur, Mommsen has said that copper money can be obtained under pecunia p. 805 note 233 proved, but as follows from what is said in the text, he wrongly assumes that melting it down is unthinkable.

^) Cod. Theod. XI, 21, 1: Aes^ quod dichoneutum (i.e. double tchmolaen) vocatur^ non modo deinceps targitionibus nt inferatur, verum de usu pmiNs ei conversatione tollatur ae nemini public« hoc habere liceat. et coi^latores ^ijjfMmli eteritf aduheratoree etiam monetae capitalU animadvenio pereequatur.

The monetary policy of Diocietian and his successors. 159

their needs from the proceeds of their fields and work of their slaves, that was the focus of the Roman Traffic is certainly in the small trade, which is primarily in the Eupfergeld served. The solidus only played its part taxes and sports, for large payments of all kinds, in particular- ly in trade from country to country. But this one went through every war, every usurpation hindered, and when did they break Wars and usurpations? Even if partial calm prevailed, it happened that if there was a disagreement between the One suddenly became ruler of the various parts of the empire closed his territory to each other's subjects and in all Ports and border towns wrested the merchants and travelers or drive back Hess'). Under these conditions I had to the need for gold as the wholesale metal take and its course goes back, which results in a price increase in small coins. And this was still increased by a false policy, which instead of the copper money to multiply, continuously, now consciously, now unconsciously its reduction worked.

How much small coin came in under Diocletian and Constantine We have already seen that it had melted (p. 130). The reform By 348 all older weavers' money was thrown into the melting pot again and the poor adjustment of the coins also a big one Part of the new. Because if the pecunia viaiorina of the con- stantius weighing between 7.5 and 3.5 gr. swayed, like that had to, even though the coined metal itself was worth more than that raw, but worth melting down the heaviest pieces be. Julian once again created a new coinage system, to which... Constantius' copper money didn't want to fit; Valentinian FoUis worsened, and the result was, of course, destruction of the older and heavier pieces, and so it went. The Arbitrage with small copper coins was therefore already taking place Constantius took on threatening dimensions. Because the course is not

1) Cod. Theod. VII, 16, 1; 2.

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rise quite evenly in all parts of the great empire could, traders made a business out of it, the Eufer Money increased in large quantities where it was relatively cheap collect it in order to sell it for more money elsewhere, and had the same effect, not an uplift, but a leveling out of evil. Of course the government only noticed that there, where the coin was bought, its price rose, not that he fell accordingly in other places and banned this trade under penalty of death^). But the search of all goods trans- porte, which was necessary for the execution of this law, only had to have a disruptive effect on the wholesale trade and so medium-sized cash could cause the price of gold to fall further. The money The piece with which the Agiotage primarily operated was the FoUis. As a result, he was apparently thought to be dangerous and therefore completely changed its form in 395. and its use prohibited'). Already two years ago The permits that were previously given to individual private individuals were had, on his own account, state-recognized copper to have money hit has generally been withdrawn').

1) Cod. Theod. IX, 23, 1: Quicunque vd conflare pecunieu vd ad diversa vendendi causa transferre detegitur^ capite plectatur, porhu enim litoraque dtversa^ quo facüior esse navihus consuevit accessuSf et üineris transitus statuimus custodiri. — nee vero aliquis negotiatorum plus mille follihus pecuniae in usu publice constitutae animalibus propriis sutnptuum gratia portare debebit, at si ampliorem modum quisquam vehere detegatur^ facuUates eius fisci dominio vindicentur et ipse afßciatur exilio. — pecunias vero nulU emere omnino fibers erity nee vetitas contrectare, quia in usu publico constitutas pretium oportet esse non mercem. — et si forte cum mercibus ad quascumque provincicu venerint naveSf cuncta solita licentia merea- buntur, praeter pecunias^ quas more solito maiorinas vd centenionales communes appdlantf vd ceterasy quas vetitas esse cognoscunt. The money offered is dead What we are talking about here are the demonetized pieces from earlier times

2) Cod. Theod. IX, 23, 2: Centenionalem tatUum nummum in conversatione publica tractari praecipimus, maioris pecuniae figuratione summota, nuUus igitur decargyrum nummum alio audeat commutare, sciens fisco eandem pecwiiam vindi- candam, quae in publica potuerit conversatione deprehendi,

3) Cod. Theod. IX, 21, 10: Siquis super cudendo aere vd reseripto aliquo vd etiam annotatione nostra sibi arripuerit facultatem, non solum frw^um propriae petitionis amittaty verum etiam poenam quam meretur exeipiat.

The tired policy of Diocletian and his successors. 161

The issue of small coins was restricted in every way to counteract the fall in gold prices, of course the worst possible remedy that could have been chosen. This folly This can only be explained by the fact that the emperors were in their palace included, saw nothing of the life of the market and so only individual symptoms of the evil, not its causes perceived. The general preference for the Follis appeared disastrous for them and disruptive for the monetary system; certainly not wrongly, but that this disruption can only be controlled by meeting the audience's desire, not by they tried to suppress it, this news was the Decree wisdom of those times very distant.

If you look at the incredibly few remains, which... left behind the copper coinage of the fifth century'), and at the same time considers that the older single coin is due to this Law of 395 was largely banished, so you will wonder in amazement how, in a time of highly developed culture, which both the self-production of all life's needs as well also had to exclude pure barter, a market traffic remained possible at all. The little man, which a few heads of cabbage or a few for his daily lunch Bought a handful of beans but couldn't buy it with gold or silver pay if there was no change to give him out on it admit. The state denied its citizens the essentials medium of exchange, since small trade must neither stop nor could continue to exist without a small coin, any private organization has entered the gap and leaves such a gap actually prove themselves.

In our collections you will encounter a not inconsiderable number of

1) Aas the five hundred and seventy years after the death of Honorius up to Ana- Stasias owns the Berlin Masenm forty-nine copper coins, while ans the twenty-one years of Diocletian's reign over eight hundred are present. Even the Gentenionales can be found from the time of Diocletian, where they were only issued as celebratory coins, not much less numerous, than from the entire fifth century, where they were the only thing in the Occident were state-recognized copper money.

Time for Namitmfttak. XYU. 11

162 0. Seeck:

dear number^) of a peculiar kind of large copper pieces, which are called Contor- Niats called The oldest trace of their existence can be found in a sermon by John Chrysostom, which took place between the years 388 and 398'); on the other hand, some show the heads of Maiorianus (457-461) and Anthemius (467 — 472), so it cannot be long before the end of the fifth year be beaten a hundred '). On others you can see Kaiser portraits from various times up to the Divus Julius on, but the great similarity of the factory and the raw style that they all fit into the same pretty narrow confines Epoch belong. Nobody needs to be older than Honorius, under which the state's copper coinage almost completely disappeared was hired, none younger than Anastasius, who took her in 498 renewed again*). The side of the head often shows the portraits, not of emperors, but of all sorts of famous ones men, Hercules and Alexander the Great, Socrates

1) Thirty years ago the Paris and London collections already had each about 200 GontomiateD, the Viennese over 160 (Sabaüer, Descrip- tion generale des m^daillons contomiates. Paris 1860, p. I); located in Berlin 74 pieces. Sabatier estimates the total number of specimens preserved to 7-800, probably too low.

2) Ad illumin. catech. II, 5 p. 243 (Migne» patrol. Graec. I 49, p. 240) Ti av TK ftnoi negt rtSy infpdais xa* ntq^antotg xtxQ^Jf^iyay xai vofniffficcra j(ttlxa Ulf^dydgov rov Maxfdoyo^ ral^ Xiqalaig xai tols ^oat niQvftc/novyTtoy ; Copper coins with the image of Alexander the Great can be found here Time only among the Gontorniates, but among them also quite extraordinary quite often. By the way, the fact that they were sometimes used as amulets is nothing, what distinguished this type of coin from the others. Because, as you know Holes can be found in all kinds of gold, silver and copper and handles, which prove that they are on a string around the neck or were worn around the leg. If Ghrysostom the Alexander Gontorniates alone, this probably only happens because they were the ones at the time most modern appearance of the coin market and therefore the preference for them was particularly large.

3) Sabatier plate XII, 11; XIX, 5.

4) Sallet is of the opinion that the Eunst style of the Gontorniates I would not allow them to be reduced to the first half of the sixth century. back; They can all be a little older.

The monetary policy of Diocietian and his successors. 163

and Apollonius of Tyana, Homer and Horace, Sallust and Apuleius, from the consul Petronius Maximus and the circus coachman Eutimius. The lapel doesn't stand up to the head at all Relationship and represents all sorts of things that were of interest at that time of the audience: scenes from history or from famous poets, donations from emperors, hunting and Fruit harvest, the fish and crabs, which are the delicacies of the Roman tablet formed; most commonly it refers to Games and races, but hardly from any other place Reason than because this object was the yolk's imagination at the time most busy. Because that the contorniates at the games themselves would have found some use therefore highly unlikely because their representations are often even have no agonistic meaning; many are even just poor copies of older copper coins. The inscriptions, which are full of linguistic and orthographic errors, are sometimes Latin, sometimes Greek; So these coins have to be defeated in both halves of the empire^). Like the worn ones Surface of many specimens shows, they were not used as Show pieces, but are passed from hand to hand in market traffic gone, although they had the authority of a legal payer by means of which neither could have had nor claimed. Apparently They are small copper bars that are given the stamp and that relatively uniform weight of coins to replace the missing coin with them. your her- position must not have been a bad deal, since it was all common need for change this useful surrogate certainly gave a price that was high above its metal value raised. This is reflected in the weight of the pieces received off; the heaviest ones weigh almost exactly V,“ pounds (= 32.75), So they have the metal content, which legally corresponds to the value corresponded to the Follis (p. 84); but the majority is very much