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How did Ancient Romans deal with constantly debased coinage?
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<p>[QUOTE="Gam3rBlake, post: 7632061, member: 115909"]Some facts:</p><p><br /></p><p>Under the reign of Tiberius in 14 AD a Roman silver Denarius weighed 3.9 grams and was 97-99% pure silver.</p><p><br /></p><p>But in 148 AD a Denarius weighed 3.41 grams of 83.5% pure silver.</p><p><br /></p><p>By 241 AD a denarius weighed the same 3.41 grams but of only 48% pure silver.</p><p><br /></p><p><br /></p><p>That means since my Tiberius denarius weighs more AND has twice the purity of the post 241 AD denarii that 1 Tiberius denarius is worth a little more than 2 denarii from post 241 AD.</p><p><br /></p><p>So let’s say I’m an Ancient Roman living in 250 AD. I want to buy a denarius worth of bread.</p><p><br /></p><p><br /></p><p>Would I get more bread if I used a denarius from the reign of Tiberius than if I used one minted recently with much lower silver content?</p><p><br /></p><p>I am curious how merchants & people in general dealt with having several different kinds of denarii with all of them having different amounts of silver?</p><p><br /></p><p>Did they have to figure out the silver content of every coin?</p><p><br /></p><p>Or did Gresham’s Law force everyone to use the most debased denarii they had and keep the good ones with more silver for themselves?[/QUOTE]</p><p><br /></p>
[QUOTE="Gam3rBlake, post: 7632061, member: 115909"]Some facts: Under the reign of Tiberius in 14 AD a Roman silver Denarius weighed 3.9 grams and was 97-99% pure silver. But in 148 AD a Denarius weighed 3.41 grams of 83.5% pure silver. By 241 AD a denarius weighed the same 3.41 grams but of only 48% pure silver. That means since my Tiberius denarius weighs more AND has twice the purity of the post 241 AD denarii that 1 Tiberius denarius is worth a little more than 2 denarii from post 241 AD. So let’s say I’m an Ancient Roman living in 250 AD. I want to buy a denarius worth of bread. Would I get more bread if I used a denarius from the reign of Tiberius than if I used one minted recently with much lower silver content? I am curious how merchants & people in general dealt with having several different kinds of denarii with all of them having different amounts of silver? Did they have to figure out the silver content of every coin? Or did Gresham’s Law force everyone to use the most debased denarii they had and keep the good ones with more silver for themselves?[/QUOTE]
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