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The History of
    Coins:
Introduction to the Roman Coin
           Project
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
The Barter System

             Jack
             trading
             his cow
             for some
             beans.
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.
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.
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.
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.
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.
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. 
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
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
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.
Numismatics
The scientific study of money and its history.




   Greek           Roman               USA
Parts of A coin
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.
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.
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.
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.
Parts of a Roman Coin
                Relief of Emperor- olive
                 headpiece represents
                 support of the people
Legend




Rim


         Alexandria, (abreviation -ALE) mint location
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.

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History of money

  • 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.

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