Coinage reform of Augustus

A denarius minted c. 18 BC during the reign of Augustus; Obverse: CAESAR AVGVSTVS; reverse: comet of eight rays with tail upward; DIVVS IVLIV[S] (DIVINE JULIUS).

The coinage reform of Augustus refers to the reform of Roman currency undertaken by Augustus in 23 BC.

The reform[]

Augustus brought the minting of gold and silver coins, the aureus and denarius, under his personal control without changing their weight or fineness. The gold aureus, weighing about one-quarter ounce, was worth twenty-five silver denarii, weighing about one-eighth of a troy ounce.^[1]

Augustus more comprehensively reformed denominations below the denarius. New ratios were fixed among the currencies: the sestertius was now minted from about an ounce of orichalcum, an alloy of copper and zinc, rather than silver, and fixed at a quarter of a denarius. The dupondius, formerly a two-pound bronze coin, was now orichalcum, valued at half a sestertius and weighing half as much. The half-ounce as, worth half a dupondius, the semis, worth half an as, and the quadrans, worth half a semis, were the first pure copper coins minted in Rome since 84 BC.^[2]

References[]

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