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<p>[QUOTE="IMP Shogun, post: 7821344, member: 114683"]...of the Tetrarchy</p><p><br /></p><p>It is of course impossible to complete an ancient coin collection. We all know that factoid.</p><p><br /></p><p>I did however complete (for now...) my Diocletian tetrarchy set with this lovely specimen:</p><p><br /></p><p><img src="https://www.cointalk.com/media/diocletian-follis.17972/full?d=1628624628" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /> </p><p>Diocletian. AD 284-305. Æ Follis (28mm, 10.45 g, 6h). Ticinum mint, 1st officina. </p><p>Struck circa AD 298-299. </p><p>Genius standing left, holding patera and cornucopia; * PT•. </p><p>RIC VI 33a</p><p><br /></p><p>Star of Bethlehem in the left reverse field? I kid, I kid, the other thing we know about Diocletian is that he wasn't pro-Christian.</p><p><br /></p><p>He also may have not understood that minting amazing looking new coins, would not only solve the problem of idle metal in storehouses but also increase inflation out of control due to the increased circulation of total coins.</p><p><br /></p><p>"At any rate, the received wisdom is that, overall, the overwhelming/unprecedented increase in the money supply (especially ‘silver’/bronze issues) in the reign of Diocletian, eventually brought about pronounced price increases" (Schwartz, 1973; Duncan-Jones, 1982; Harl, 1996). </p><p><br /></p><p>But, this is not the full story; though the second part of it, is perhaps not widely known or recognized for its inflationary impact: In 301, Diocletian apparently issued a Currency Edict, effective September 1st, doubling the face value of the silver and cop- per issues (Erim et al., 1971; Whittaker, 1980; Bagnall, 1985; Lo Cascio, 1996; Rathebone, 1996; Harl, 1996). </p><p><br /></p><p>He did however apply this Modern Monetary Theory with a good heart, as he was a soldier and knows they should not be paying a year's pay for a cloak, leave that for the Pentagon!</p><p><br /></p><p>"Perhaps he hoped to raise the purchasing capacity of his (military and administrative) staff or make the possession of these coins more attractive and influence the ‘unfreezing’ of the out- standing precious metal (gold) that was held in private stores."</p><p><br /></p><p><img src="https://d3i71xaburhd42.cloudfront.net/c96212c415921f92d0cd79cd6218c108fcd7e9cb/14-Table1-1.png" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /> </p><p><br /></p><p>Quotes are from <a href="https://books.google.com/books/about/Another_View_on_an_Old_Inflation.html?id=m9_nOwAACAAJ" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://books.google.com/books/about/Another_View_on_an_Old_Inflation.html?id=m9_nOwAACAAJ" rel="nofollow">Another View on an Old Inflation: Environment and Policies in the Roman ... - Prodromos-Ioannis Prodromidis - Google Books</a></p><p><br /></p><p><br /></p><p>Let's see some Diocletian!</p><p><br /></p><p><img src="https://www.cointalk.com/media/diocletian-follis.16519/full?d=1614118929" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="IMP Shogun, post: 7821344, member: 114683"]...of the Tetrarchy It is of course impossible to complete an ancient coin collection. We all know that factoid. I did however complete (for now...) my Diocletian tetrarchy set with this lovely specimen: [IMG]https://www.cointalk.com/media/diocletian-follis.17972/full?d=1628624628[/IMG] Diocletian. AD 284-305. Æ Follis (28mm, 10.45 g, 6h). Ticinum mint, 1st officina. Struck circa AD 298-299. Genius standing left, holding patera and cornucopia; * PT•. RIC VI 33a Star of Bethlehem in the left reverse field? I kid, I kid, the other thing we know about Diocletian is that he wasn't pro-Christian. He also may have not understood that minting amazing looking new coins, would not only solve the problem of idle metal in storehouses but also increase inflation out of control due to the increased circulation of total coins. "At any rate, the received wisdom is that, overall, the overwhelming/unprecedented increase in the money supply (especially ‘silver’/bronze issues) in the reign of Diocletian, eventually brought about pronounced price increases" (Schwartz, 1973; Duncan-Jones, 1982; Harl, 1996). But, this is not the full story; though the second part of it, is perhaps not widely known or recognized for its inflationary impact: In 301, Diocletian apparently issued a Currency Edict, effective September 1st, doubling the face value of the silver and cop- per issues (Erim et al., 1971; Whittaker, 1980; Bagnall, 1985; Lo Cascio, 1996; Rathebone, 1996; Harl, 1996). He did however apply this Modern Monetary Theory with a good heart, as he was a soldier and knows they should not be paying a year's pay for a cloak, leave that for the Pentagon! "Perhaps he hoped to raise the purchasing capacity of his (military and administrative) staff or make the possession of these coins more attractive and influence the ‘unfreezing’ of the out- standing precious metal (gold) that was held in private stores." [IMG]https://d3i71xaburhd42.cloudfront.net/c96212c415921f92d0cd79cd6218c108fcd7e9cb/14-Table1-1.png[/IMG] Quotes are from [URL='https://books.google.com/books/about/Another_View_on_an_Old_Inflation.html?id=m9_nOwAACAAJ']Another View on an Old Inflation: Environment and Policies in the Roman ... - Prodromos-Ioannis Prodromidis - Google Books[/URL] Let's see some Diocletian! [IMG]https://www.cointalk.com/media/diocletian-follis.16519/full?d=1614118929[/IMG][/QUOTE]
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