The ''aureus'' (
''aurei'', 'golden', used as a noun) was a
gold coin of
ancient Rome originally valued at 25 pure silver ''
denarii'' (sin. denarius). The ''aureus'' was regularly issued from the 1st century BC to the beginning of the 4th century AD, when it was replaced by the ''
solidus''. The ''aureus'' was about the same size as the ''denarius'', but heavier due to the higher
density of
gold (as opposed to that of
silver).
Before the time of
Julius Caesar
Gaius Julius Caesar (; ; 12 July 100 BC – 15 March 44 BC), was a Roman general and statesman. A member of the First Triumvirate, Caesar led the Roman armies in the Gallic Wars before defeating his political rival Pompey in a civil war, and ...
the ''aureus'' was struck infrequently. Caesar struck the coin more often, and standardized the weight at
of a
Roman pound (about 8
grams).
Augustus () tariffed the value of the ''
sestertius'' as
of an ''aureus''.
The mass of the ''aureus'' was decreased to
of a Roman pound (7.3 g) during the reign of
Nero (r. 54–68). At about the same time the purity of the silver coinage was also slightly decreased.
After the reign of
Marcus Aurelius (r. 161–180) the production of ''aurei'' decreased, and the weight fell to
of a Roman pound (6.5 g) by the time of
Caracalla (r. 211–217). During the 3rd century, gold pieces were introduced in a variety of fractions and multiples, making it hard to determine the intended denomination of a gold coin.
During Gallienus's reign, the purity was briefly reduced to 94%, and a small amount of coins were minted with as low as 80% purity. This was reset back to 99% by the next emperor.
The ''solidus'' was first introduced by
Diocletian
Diocletian (; la, Gaius Aurelius Valerius Diocletianus, grc, Διοκλητιανός, Diokletianós; c. 242/245 – 311/312), nicknamed ''Iovius'', was Roman emperor from 284 until his abdication in 305. He was born Gaius Valerius Diocles ...
(r. 284–305) around 301 AD, struck at 60 to the Roman pound of pure gold (and thus weighing about 5.5 g each) and with an initial value equal to 1,000 ''denarii''.
However, Diocletian's ''solidus'' was struck only in small quantities, and thus had only minimal economic effect, although its stable weight brought an end to the instability that had existed for a while. Since only one document of Diocletian's time uses this word to describe the coin, numismatists usually reserve the name "solidus" for the coin that was introduced later by Constantine the Great.
When the ''solidus'' was reintroduced by
Constantine I
Constantine I ( , ; la, Flavius Valerius Constantinus, ; ; 27 February 22 May 337), also known as Constantine the Great, was Roman emperor from AD 306 to 337, the first one to convert to Christianity. Born in Naissus, Dacia Mediterranea ...
(r. 306–337) in 312 AD, permanently replacing the ''aureus'' as the gold coin of the Roman Empire, it was struck at a rate of 72 to a Roman pound of pure gold, each coin weighing twenty-four Greco-Roman carats, or about 4.5 grams of gold per coin. By this time, the ''solidus'' was worth 275,000 of the increasingly debased ''denarii''.
However, regardless of the size or weight of the ''aureus'', the coin's purity was little affected. Analysis of the Roman ''aureus'' shows the purity level usually to have been near to 24
karat gold, so in excess of 99% pure.
Due to runaway inflation caused by the Roman government's issuing base-metal coinage but refusing to accept anything other than silver or gold for tax payments, the value of the gold ''aureus'' in relation to the ''denarius'' grew drastically. Inflation was also affected by the systematic debasement of the silver ''denarius'', which by the mid-3rd century had practically no silver left in it.
In 301, one gold ''aureus'' was worth 833⅓ denarii; by 324, the same ''aureus'' was worth 4,350 ''denarii''. In 337, after Constantine converted to the ''solidus'', one ''solidus'' was worth 275,000 ''denarii'' and finally, by 356, one ''solidus'' was worth 4,600,000 ''denarii''.
Today, the ''aureus'' is highly sought after by collectors because of its purity and value, as well its historical interest. An ''aureus'' is usually much more expensive than a ''denarius'' issued by the same emperor. For instance, in one auction, an ''aureus'' of
Trajan (r. 98–117) sold for $15,000, and a silver coin of the same emperor sold for $100. The most expensive ''aureus'' ever sold was one issued in 42 BC by
Marcus Junius Brutus
Marcus Junius Brutus (; ; 85 BC – 23 October 42 BC), often referred to simply as Brutus, was a Roman politician, orator, and the most famous of the assassins of Julius Caesar. After being adopted by a relative, he used the name Quintus Serv ...
, the assassin of
Gaius Julius Caesar, which had a price realized of $3.5 million in November 2020. (There is an example of this coin on permanent display at the
British Museum in London.) An ''aureus'', issued by the emperor
Alexander Severus (r. 222–235), has a picture of the
Colosseum on the reverse, and had a price realized of $920,000 in 2008. An ''aureus'' with the face of
Allectus
Allectus (died 296) was a Britannic Empire, Roman-Britannic Roman usurper, usurper-Roman emperors, emperor in Roman Britain, Britain and northern Gaul from 293 to 296.
History
Allectus was treasurer to Carausius, a Menapii, Menapian officer in the ...
was auctioned off in the United Kingdom for £552,000 in June 2019.
See also
*
Roman currency
Roman currency for most of Roman history consisted of gold, silver, bronze, orichalcum and copper coinage. From its introduction to the Republic, during the third century BC, well into Imperial times, Roman currency saw many changes in form, denomi ...
*
Coinage reform of Augustus
References
External links
Online numismatic exhibit: "This round gold is but the image of the rounder globe" (H.Melville). The charm of gold in ancient coinage
{{Authority control
Coins of ancient Rome
Gold coins