The document provides an overview of the history of coins and monetary systems, beginning with barter and gift exchange systems. It then discusses the development of the Roman coin system, including the introduction of minted bronze coins in the 3rd century BC and silver coins modeled after Greek coins around 300 BC. The document outlines the expansion of the Roman monetary system under Augustus to establish consistent gold, silver, and copper coin values. It also describes elements of Roman coins like legends, mint marks, and materials used before concluding with sections on numismatics and coin parts.

1. The History of
Coins:
Introduction to the Roman Coin
Project

2. History of Money
Systems
• Barter - direct exchange of services or resources for
mutual advantage, used throughout history
• Gift Exchange - give a commodity to increase
power or influence
• Monetary System - a common money system with
regulated production and a standardized value

3. The Barter System
Jack
trading
his cow
for some
beans.

4. Early use of Money- Bride Money
Gifts were a tangible sign of the alliance between the two
households. The bride's family gave a dowry or dora and
in return the groom’s family gave a hedna , usually a gift
of cattle. This gift exchange formalized the legitimacy of
a marriage and legitimized the children of the union.

5. Early use of Money- Blood
money
Money given for political influence to increase
one’s power or stature. The latest coins date to around
200 AD – a time of turmoil.
Restless northern tribes raided
Roman Britain, and the Roman
army fought back. But they had
another tactic – bribery.
Giving bribes or gifts to
powerful local leaders was
common practice. All across
northern Europe, chieftains were
given coins and other valuable
items. Over 30 coin hoards have
been found in Scotland.

6. History of Roman
Coins
• 3rd Century BC - first coins made from small
chunks of bronze, not minted, no markings
• 269 BC - first minted Roman coin, issued by the
government, at first all were160 grams of bronze
and one denomination, added different
denominations for ease of trade.

7. First Roman Silver
Coins
• The first true Roman coin was minted around 300
BC and modeled after Greek coins from southern
Italy. These coins helped expand trade.
• More money was minted after the first and second
Punic Wars. New Roman provinces and
confiscated goods were heavily taxed to pay for the
wars.

8. Expansion of the
Roman Money System
• Beginning in 200 BC, the monetary system
expanded to meet the financial and administrative
needs of the expanding empire.
• The primary currency was the silver and bronze
denarius.
• The Roman money was controlled by the Roman
Senate.

9. Value of the Denarius
• 1 denarius - a day wages for harvesting grapes
• 200 denarius - would pay for bread for 5000 people
Denarius, Gaius Julius Caesar, Aureus, Vitellius (69 A.D.),
Denarius, Gaius Julius Caesar
Rome, 44 B.C. Tarraco
Gallia, 49 B.C. to 48 B.C.

10. Augustus’s Currency
in the Roman Empire
Created a consistent value system for money between
gold, silver and copper coins.
1 aureus (gold) = 25 denarii (silver) = 100 sesterces
(copper) = 400 asses (copper)
Only the ruler could issue gold and silver coins.
The senate could issue copper coins.
=25 =100 =400

11. Reason for common
Money System
• enhanced trade
• unified Roman Empire
• provided resources to support
military conquests
• historical record of
emperor and his deeds
Claudius II

12. Decline of Roman
Coins
• Continual increase in spending on military and luxury
items lead to a smaller supply of precious metals.
• In response Rome produced coins with less silver content
and reduced the weight and size of gold coins.
• This led to inflation (it takes more money to buy
something because the coin is not worth as much)
• Counterfeiting (reproducing coins illegally) was also
difficult to control in such a vast empire.

13. Numismatics
The scientific study of money and its history.
Greek Roman USA

14. Parts of A coin

15. Parts of a Coin
• obverse: the front side ("heads") of a coin. Generally,
the side with the date and principal design (NOTE: the
new 50 State Quarters® are a major exception because
their date is on the reverse).
• reverse: the back side ("tails") of a coin.
• edge: the outer border of a coin, considered the "third
side" (not to be confused with "rim"). Edges can be
plain, reeded, lettered or decorated.
• rim: the raised edge on both sides of a coin (created by
the upsetting mill) that helps protect the coin's design
from wear.

16. Main Elements of a
coin
• legend: the principal inscription or lettering on a coin.
• mint mark: a small letter or symbol on a coin used to
identify where a coin was made. Current United States
mint marks are Philadelphia (P), Denver (D), San
Francisco (S), and West Point (W). Today, Philadelphia
and Denver produce all U.S. circulating coins.
• relief:the part of a coin's design that is raised above the
surface.
• field: the flat portion of a coin's surface not used for
design or inscription.

17. Materials used to make
coins
• Coins of the past were made from precious metals such
as gold, silver, bronze or copper. Ancient Persian coins
were predominately gold, whereas Athenian coins of
Greece were silver. Roman coins were originally bronze,
but later gold, silver and copper.
• Coins today are made from alloys or a mixture of two
metals. Since 1965, all circulating U.S. dimes, quarters,
half dollars and dollars have been clad with the outer
layer differing in metal from the core layer.

18. Images and Mottos
• motto: a word, sentence or phrase inscribed on a
coin to express a guiding national principle. For
example, "E Pluribus Unum" inscribed on all U.S.
circulating coins is Latin for "out of many, one."
• relief and incuse: the graphic design raised above
or pressed below the surface that may depict a
political leader, national landmark or symbol.

19. Parts of a Roman Coin
Relief of Emperor- olive
headpiece represents
support of the people
Legend
Rim
Alexandria, (abreviation -ALE) mint location

20. Research Sources
"Ancient Roman Money: The Gold Standard of Business in Rome." Roman History.
Web. 11 Mar. 2010. <http://roman-history.suite101.com/article.cfm/
ancient_roman_money>.
"Fehlerseite – Oesterreichische Nationalbank." Willkommen
Bei der Oesterreichischen Nationalbank – Oesterreichische Nationalbank. Web. 11
Mar. 2010.
." Google
"Google Image Result for Http://dougsmith.ancients.info/aesturtle.jpg
Images.
"Roman Mintmarks." Roman Numismatic Gallery. Web. 11 Mar. 2010.