In another topic on the board a discussion occurred between the condition of Eastern Roman Gold versus Copper and silver. In my studies today, I was reading” Economy Expansion in the Byzantine Empire 900-1200 Ad” by Alan Harvey. Not really a coin book but had an interesting chapter on taxation and monetary circulation. In it he gives a very interesting insight. “The copper coinage gives us a better guide to the intensity of economic activity. It served the function of a circulating medium for everyday transactions. After the state put it into circulation, it had no further interest in recovering it (Unlike gold currency) and consequently it was available to meet commercial requirements. “Pg.81 The book goes on to point out that gold coinage came back to the government very quickly in the form of taxation. However, it paid its change in silver and copper coins. In some cases, the local residents could not acquire gold coins readily to pay their taxes, they would exchange with landlords with their lesser denominations in order to pay the required gold tax. If the tax had any change, it would be provided in copper and silver coins. So in a nutshell this is one reason the gold coinage is is in such better condition than its copper and silver counterparts. It just did not circulate for long. New addition I just added to my collection, it’s a copper but I was drawn to it because of its nice centering but most of all its weight, it is on the heavier side but specimens have been recorded over 6.5gms. Manuel I coinage is some of the most common for the 12th century. 1976B MANUEL AE TETARTERON S-1976 DOC 19 CLBC 4.4.6 OBV Radiate cross on three steps. REV. Half-length figure of emperor, bearded, wearing stemma, divitision, collar piece, and jeweled loros of a simplified type; holds in r. hand labarum on laft shaft and in l. Globus cruciger. Size 24mm Weight 5.78gm This is a Thessalonica minted coin, it contains no silver. It is believed to be valued at 1/864 Hyperpyron and the Metropolitan (Constantinople) issues at 1/288 Hyperpyron.
I think another reason why there is so much Byzantine gold in good condition is that a lot of it was used as bribes or ransom to foreign governments to keep them from invading. Often it would just sit around and accumulate, never circulating.
