Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Ancient Coins
>
Merry Christmas with Anastasius and his coin reform
>
Reply to Thread
Message:
<p>[QUOTE="otlichnik, post: 5296310, member: 109731"]Beautiful coins Voulgaroktonou! Especially the Constantinopolis seated and those transitional issues.</p><p><br /></p><p>I have always been very puzzled by the 512 reform. </p><p><br /></p><p>The reform of 498 makes perfect sense. Look for example at the cost per nummus of your four specimens: </p><p>Your 8.50 g follis of 40 nummi yields 0.21 g/nummus.</p><p>The 1/2 follis of 20 nummi at 3.76 g of yields 0.19 g/nummus.</p><p>The deca of 1.51 g yields 0.15 g/nummus.</p><p>All of these are way under the nummus standard of the time (approx 0.84 g), or in fact any 5th century nummus standard. Thus they were a highly profitable option and analogous with the introduction early third century antoninianus - 2 denarii for the cost of 1 1/2.</p><p><br /></p><p>But then in 512 the weight of each denomination is doubled. Thus the State's costs are doubled. Again, just looking at your examples:</p><p>Follis of 0.45 g/nummus.</p><p>Half-follis of 0.45 g/nummus.</p><p>Deca of 0.42 g/nummus.</p><p>Penta of 0.38 g/nummus.</p><p><br /></p><p>So Anastasius doubled his cost to make coinage vis-a-vis the previous 14 years - which is actually a fairly long time in an economy. It does still represent a good savings compared to the pre-498 standard, but still, a 100% increase in costs is hard to explain.</p><p><br /></p><p>I had the chance to raise this with Dr. Hahn some years ago but never really found a satisfactory explanation.</p><p><br /></p><p>SC[/QUOTE]</p><p><br /></p>
[QUOTE="otlichnik, post: 5296310, member: 109731"]Beautiful coins Voulgaroktonou! Especially the Constantinopolis seated and those transitional issues. I have always been very puzzled by the 512 reform. The reform of 498 makes perfect sense. Look for example at the cost per nummus of your four specimens: Your 8.50 g follis of 40 nummi yields 0.21 g/nummus. The 1/2 follis of 20 nummi at 3.76 g of yields 0.19 g/nummus. The deca of 1.51 g yields 0.15 g/nummus. All of these are way under the nummus standard of the time (approx 0.84 g), or in fact any 5th century nummus standard. Thus they were a highly profitable option and analogous with the introduction early third century antoninianus - 2 denarii for the cost of 1 1/2. But then in 512 the weight of each denomination is doubled. Thus the State's costs are doubled. Again, just looking at your examples: Follis of 0.45 g/nummus. Half-follis of 0.45 g/nummus. Deca of 0.42 g/nummus. Penta of 0.38 g/nummus. So Anastasius doubled his cost to make coinage vis-a-vis the previous 14 years - which is actually a fairly long time in an economy. It does still represent a good savings compared to the pre-498 standard, but still, a 100% increase in costs is hard to explain. I had the chance to raise this with Dr. Hahn some years ago but never really found a satisfactory explanation. SC[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Ancient Coins
>
Merry Christmas with Anastasius and his coin reform
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...