Denarius

The ''denarius'' (; : ''dēnāriī'', ) was the standard Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the ''antoninianus''. It continued to be minted in very small quantities, likely for ceremonial purposes, until and through the Tetrarchy (293–313).

The word ''dēnārius'' is derived from the Latin ''dēnī'' "containing ten", as its value was originally of 10 '' assēs''.Its value was increased to 16 assēs in the middle of the 2nd century BC. The word for "money" descends from it in Italian (''denaro''), Slovene (''denar''), Portuguese (''dinheiro''), and Spanish (''dinero''). Its name also survives in the dinar currency.

Its symbol is represented in Unicode as 𐆖 (U+10196), a numeral monogram that appeared on the obverse in the Republican period, denoting the 10 ''asses'' ("X") to 1 ''denarius'' ("I") conversion rate. However it can also be represented as X̶ (capital letter X with combining long stroke overlay).

History

A predecessor of the ''denarius'' was first struck in 269 or 268 BC, five years before the First Punic War, with an average weight of 6.81 grams, or of a Roman pound. Contact with the Greeks had prompted a need for silver coinage in addition to the bronze currency that the Romans were using at that time. This predecessor of the ''denarius'' was a Greek-styled silver coin of ''didrachm'' weight, which was struck in Neapolis and other Greek cities in southern Italy. These coins were inscribed with a legend that indicated that they were struck for Rome, but in style they closely resembled their Greek counterparts. They were rarely seen at Rome, to judge from finds and hoards, and were probably used either to buy supplies or to pay soldiers.

The first distinctively Roman silver coin appeared around 226 BC. Classical historians have sometimes called these coins "heavy ''denarii''", but they are classified by modern numismatists as ''quadrigati'', a term which survives in one or two ancient texts and is derived from the ''quadriga'', or four-horse chariot, on the reverse. This, with a two-horse chariot or ''biga'' which was used as a reverse type for some early ''denarii'', was the prototype for the most common designs used on Roman silver coins for a number of years.

Rome overhauled its coinage shortly before 211 BC, and introduced the ''denarius'' alongside a short-lived denomination called the '' victoriatus''. The ''denarius'' contained an average 4.5 grams, or of a Roman pound, of silver, and was at first tariffed at ten ''asses'', hence its name, which means 'tenner'. It formed the backbone of Roman currency throughout the Roman Republic and the early Empire.

The ''denarius'' began to undergo slow debasement toward the end of the republican period. Under the rule of Augustus (27 BC – 14 AD) its weight fell to 3.9 grams (a theoretical weight of of a Roman pound). It remained at nearly this weight until the time of Nero (AD 37–68), when it was reduced to of a pound, or 3.4 grams. Debasement of the coin's silver content continued after Nero. Later Roman emperors also reduced its weight to 3 grams around the late 3rd century.

The value at its introduction was 10 '' asses'', giving the ''denarius'' its name, which translates as "containing ten". In about 141 BC, it was re-tariffed at 16 ''asses'', to reflect the decrease in weight of the '' as''. The ''denarius'' continued to be the main coin of the Roman Empire until it was replaced by the antoninianus in the early 3rd century AD. The coin was last issued, in bronze, under Aurelian between 270 and 275 AD, and in the first years of the reign of Diocletian.

Debasement and evolution

Value, comparisons and silver content

1 gold ''aureus'' = 2 gold '' quinarii'' = 25 silver ''denarii'' = 50 silver ''quinarii'' = 100 bronze '' sestertii'' = 200 bronze dupondii = 400 copper '' asses'' = 800 copper ''semisses'' = 1,600 copper '' quadrantes''

It is difficult to give even rough comparative values for money from before the 20th century, as the range of products and services available for purchase was so different. During the republic (509 BC – 27 BC), a legionary earned 112.5 ''denarii'' per year (0.3 ''denarii'' per day). Under Julius Caesar, this was doubled to 225 ''denarii''/yr, with soldiers having to pay for their own food and arms, while in the reign of Augustus a Centurion received at least 3,750 ''denarii'' per year, and for the highest rank, 15,000 ''denarii''.

By the late Roman Republic and early Roman Empire (), a common soldier or unskilled laborer would be paid 1 ''denarius''/day (with no tax deductions), around 300% inflation compared to the early period. Using the cost of bread as a baseline, this pay equates to around US$20 in 2013 terms. Expressed in terms of the price of silver, and assuming 0.999 purity, a troy ounce ''denarius'' had a precious metal value of around US$2.60 in 2021.

At the height of the Roman Empire a '' sextarius'' (546 ml or about 2 American cups) of ordinary wine cost roughly one '' dupondius'' ( of a ''denarius''); after Diocletian's Edict on Maximum Prices was issued in 301 AD, the same item cost 8 debased common ''denarii'' – 6300% inflation.

Silver content plummeted across the lifespan of the ''denarius''. Under the Roman Empire (after Nero) the ''denarius'' contained approximately 50 grains, 3.24 grams, or 0.105 ozt (about troy ounce). The fineness of the silver content varied with political and economic circumstances. From a purity of greater than 90% silver in the 1st century AD, the ''denarius'' fell to under 60% purity by 200 AD, and plummeted to 5% purity by 300 AD. By the reign of Gallienus, the ''antoninianus'' was a copper coin with a thin silver wash.

Influence

In the final years of the 1st century BC Tincomarus, a local ruler in southern Britain, started issuing coins that appear to have been made from melted down ''denarii''. The coins of Eppillus, issued around Calleva Atrebatum around the same time, appear to have derived design elements from various ''denarii'', such as those of Augustus and M. Volteius.

Even after the ''denarius'' was no longer regularly issued, it continued to be used as a unit of account, and the name was applied to later Roman coins in a way that is not understood. The Arabs who conquered large parts of the land that once belonged to the Eastern Roman Empire issued their own gold dinar. The lasting legacy of the ''denarius'' can be seen in the use of "d" as the abbreviation for the British penny until 1971. It also survived in France as the name of a coin, the denier. The ''denarius'' also survives in the common Arabic name for a currency unit, the ''dinar'' used from pre-Islamic times, and still used in several modern Arab nations. The major currency unit in former Principality of Serbia, Kingdom of Serbia and former Yugoslavia was ''dinar'', and it is still used in present-day Serbia. The Macedonian currency '' denar'' is also derived from the Roman ''denarius''. The Italian word ''denaro'', the Spanish word ''dinero'', the Portuguese word ''dinheiro'', and the Slovene word ', all meaning money, are also derived from Latin ''denarius''. The pre-decimal currency of the United Kingdom until 1970 of pounds, shillings and pence was abbreviated as £sd, with "d" referring to ''denarius'' and standing for penny.

Use in the Bible

In the New Testament, the gospels refer to the ''denarius'' as a day's wage for a common laborer ( Matthew 20:2, John 12:5). In the Book of Revelation, during the Third Seal: Black Horse, a choinix ("quart") of wheat and three quarts of barley were each valued at one ''denarius''. Bible scholar Robert H. Mounce says the price of the wheat and barley as described in the vision appears to be ten to twelve times their normal cost in ancient times.The New International Commentary on the New Testament, "The Book of Revelation", p. 155) Revelation thus describes a condition where basic goods are sold at greatly inflated prices. Thus, the black horse rider depicts times of deep scarcity or famine, but not of starvation. Apparently, a choinix of wheat was the daily ration of one adult. Thus, in the conditions pictured by Revelation 6, the normal income for a working-class family would buy enough food for only one person. The less costly barley would feed three people for one day's wages.

The ''denarius'' is also mentioned in the Parable of the Unforgiving Servant & in Parable of the Good Samaritan ( Luke 10:25–37). The Render unto Caesar passage in Matthew 22:15–22 and Mark 12:13–17 uses the word (δηνάριον) to describe the coin held up by Jesus, translated in the King James Bible as " tribute penny". It is commonly thought to be a ''denarius'' with the head of Tiberius.

See also

* Denarius of L. Censorinus – for the detailed description of a specific Roman ''denarius''
* Dupondius
* French denier
* Gold Dinar
* Ides of March Coin
* Macedonian denar
* Sestertius
* Solidus (coin)
* Tribute penny
* Pay (Roman army)

Notes

References

External links

Denarius
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Coins of ancient Rome
Coins in the Bible
New Testament Latin words and phrases
Silver coins
211 BC
Dinar