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Message:: [QUOTE="Al Kowsky, post: 4470108, member: 97383"]Justinian I (the Great) had an ambition to restore the Roman Empire to her former greatness. In order to do this he had to first pacify Khusru I, of Persia, with large sums of tribute to stabilize the Eastern front. Next he began a campaign to reconquer the Western Roman Empire. With Belisarius, Narses, and other generals this herculean feat was accomplished, although only short lived. By AD 538 the Mediterranean basin could be called Roman again, and the Eastern empire was enjoying a period of peace and stability. Fighting the Gothic barbarians in Italy endured much longer. The recovery of Italy cost the empire 300,000 pounds of gold. In 538 Justinian could boast 5 years of major achievements, including military victories in the West, administration reorganization throughout the empire, the codification of civilian law, and the rebuilding of Hagia Sophia. So what triggered the Monetary Reform of AD 538 ?Conquering Carthage from the Vandals brought with it an enormous amount of gold for the imperial treasury. When Belisarius returned to Constantinople, he was awarded a full triumph in grandiose style. It became clear that an adjustment in the exchange rate between gold and copper was necessary. Aside from economic considerations, above all, the monetary reform was a political statement. Justinian wanted to stand out above his predecessors for his achievements by creating a new and heavier bronze coinage with better die cutting, and different iconography. The follis (40 nummi coin) and solidus were given a new obverse design of the front facing emperor in full armor, holding a Globus Cruciger in his right hand. The reverse of the follis now had a reign date indicating when the coin was struck (much to the delight of coin collectors). The reverse of the solidus now depicts a front facing angel holding a staff and Globus Cruciger. The follis would now  range in size from 38 to 45 mm in diameter, not unlike the old imperial medallions of Rome. They were truly striking in appearance and must have impressed the common people since many of them were drilled and worn as pendants. The new reform coinage was a clever use of propaganda by Justinian. [ATTACH=full]1112393[/ATTACH]Byzantine Empire, Justinian I, AD 527-565 (struck Year 13, AD 539/540), Nicomedia Mint, Officina 2. AE 40 nummi: 22.47 gm, 41 mm, 6 h. Obverse inscription: D  N  IVSTINIANVS  PP  AVG. Reverse inscription: ANNO  XIII  NIK  B. Sear 201. AK Collection [ATTACH=full]1112394[/ATTACH] Byzantine Empire, Justinian I, AD 527-565 (struck AD 545/565), Constantinople Mint, Officina 7. AV Solidus: 4.54 gm, 20 mm, 6 h. Reverse inscription: VICTORIA  AVGGG  Z, in exergue CON  OB. Sear 140. Ex Iconodule Collection. AK Collection. Silver was treated as an independent element in the monetary system and used as a token coinage because it was constantly fluctuating in value with gold. Since so little silver was used in coinage after the coinage reform of Anastasius, in AD 498, Justinian found no need to change its design. [ATTACH=full]1112401[/ATTACH]            Map of the Byzantine Empire late in the reign of Justinian I References: Wikipedia Byzantine Coins and Their Values, 1987, David R. Sear. Published by B.A. Seaby Ltd., London Essay by Philip Gierson, Byzantine Coinage, Copyright 1999, Dumbarton Oaks. Trustees for Harvard University, Washington, D.C. Essay by Andrei Gandila, Heavy Money, Weightier Problems: The Justinianic Reform of 538 and its Economic Consequences, 2012. Published by the Societe Francaise De Numismatique, Paris CT members are welcome to post their favorite coins of Justinian I. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]

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