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<p>[QUOTE="ancient coin hunter, post: 4128400, member: 87200"]<b>The Coinage Reform of Anastasius</b></p><p><br /></p><p>Just about all of us late roman bronze collectors have accumulated or handled late 4th and 5th century Roman bronze coins known as AE 4’s or a <i>nummus</i>. While it is difficult to quantify the purchasing power of the nummus, it is clear that the relationship between the nummus and the other coin that was minted in quantity, the gold solidus, is difficult to establish by the end of the 5th century. The latter Roman rulers up until the time of Romulus Augustus, the last emperor in the west, as well as the eastern emperors, struck these often miniscule coins. And the tradition was maintained by Odoacer, the Germanic chieftain who deposed Romulus. </p><p><br /></p><p>Meanwhile, the minting of the solidus in sufficient quantities to finance the economy in the east continued, whilst the silver coinage represented by the siliqua basically disappeared.</p><p><br /></p><p>In 494 Anastasius reformed the coinage [1], issuing a much wider range of bronze coins, which had previously been in short supply, including the new follis of 40 nummi. In addition, the semissis and tremessis were issued in fractional amounts to the solidus, providing for gold currency which could increasingly be utilized by the Empire’s citizens. </p><p><br /></p><p>Anastasius is famous for showing an uncommon interest in administrative efficiency and issues concerning the economy. Whenever it was possible in governmental transactions, he altered the method of payment from goods to hard currency. This practice decreased the potential for embezzlement and the need for transportation and storage of supplies. It also allowed for easier accounting. He also applied this practice to taxes, mandating that taxes be paid with cash rather than with goods.[2] </p><p><br /></p><p>He eliminated the practice of providing soldiers with their arms and uniforms; instead he allotted each soldier a generous sum of money with which to purchase their own. These changes to imperial policy seem to have worked well; taxpayers often paid smaller tax bills than they had before, while government revenue increased. The increase in revenue allowed the emperor to pay soldiers a higher wage [3], which attracted native Roman soldiers to the military, as opposed to the barbarian and Isaurian mercenaries which some previous emperors had been forced to rely on. Anastasius is often cited for his "prudent management" of the empire's finances [4].</p><p><br /></p><p>In 498 the <i>collatio lustralis</i>, a tax on craftsmen, was also abolished, while successful efforts were made to increase the efficiency of tax collection and even to reduce the rates of land taxation. At his death he was able to leave a large surplus of 320,000 pounds of gold, a sum which was largely whittled away by his successors including Justinian in an attempt to reconquer the western territories under the general Belisarius [5] as well as the construction of the famed Hagia Sophia. </p><p><br /></p><p><br /></p><p><img src="https://lh6.googleusercontent.com/AYstnIa2B8t8Uh0iqoIfPtRXex577YLUAEzusMzR8g4OqyZ3QPmpSJWhG2YrfvF-_BIpryIlQYiG61cW9FqOgvF6VMdewKN4ChXFH13IdXI3JsyKNM_-apiAESOZjRdlQVcg_8g8" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>Credit: Christos Nüssli, Milieu 30, CH-1400 Yverdon, 1998</p><p><br /></p><p><br /></p><p><br /></p><p>Here is a new FSR acquisition, characterized by a lovely, glossy green patina: </p><p><br /></p><p><br /></p><p>Anastasius, 491-518 A.D. </p><p><br /></p><p>Type: Large AE Follis, 39 mm 19 grams</p><p><br /></p><p>Obverse: DN ANASTASIVS PP AVG, Diademed draped and Cuirassed bust right, star on right shoulder (rare)</p><p><br /></p><p>Reverse: Large M, Epsilon below. Cross above M, star in left field, Mintmark CON</p><p><br /></p><p>[ATTACH=full]1069258[/ATTACH] </p><p><br /></p><p>[ATTACH=full]1069259[/ATTACH] </p><p><br /></p><p>Citations:</p><p><br /></p><p>[1] The Cambridge Ancient History: Late Antiquity: Empire and Successors, 425-600 A.D. (1982). A. Cameron, B. Ward-Perkins, M. Whitby </p><p><br /></p><p>[2] Cameron, Alan, "The House of Anastasius", GRBS 19 (1978): 259-276.</p><p><br /></p><p>[3] Treadgold, Warren (2001). A Concise History of Byzantium. Houndmills, Hampshire: Palgrave. pp. 56</p><p><br /></p><p>[4] Laiou, Angeliki (2002). The Economic History of Byzantium. Washington DC: Dumbarton Oaks Research Library and Collections. </p><p><br /></p><p>[5] Graves, Robert (1938). Count Belisarius, an Historical novel. Penguin-Random House, L.L.C.</p><p>----</p><p><br /></p><p>Please feel free to share your reformed Byzantine coinage of Anastasius and successors...[/QUOTE]</p><p><br /></p>
[QUOTE="ancient coin hunter, post: 4128400, member: 87200"][B]The Coinage Reform of Anastasius[/B] Just about all of us late roman bronze collectors have accumulated or handled late 4th and 5th century Roman bronze coins known as AE 4’s or a [I]nummus[/I]. While it is difficult to quantify the purchasing power of the nummus, it is clear that the relationship between the nummus and the other coin that was minted in quantity, the gold solidus, is difficult to establish by the end of the 5th century. The latter Roman rulers up until the time of Romulus Augustus, the last emperor in the west, as well as the eastern emperors, struck these often miniscule coins. And the tradition was maintained by Odoacer, the Germanic chieftain who deposed Romulus. Meanwhile, the minting of the solidus in sufficient quantities to finance the economy in the east continued, whilst the silver coinage represented by the siliqua basically disappeared. In 494 Anastasius reformed the coinage [1], issuing a much wider range of bronze coins, which had previously been in short supply, including the new follis of 40 nummi. In addition, the semissis and tremessis were issued in fractional amounts to the solidus, providing for gold currency which could increasingly be utilized by the Empire’s citizens. Anastasius is famous for showing an uncommon interest in administrative efficiency and issues concerning the economy. Whenever it was possible in governmental transactions, he altered the method of payment from goods to hard currency. This practice decreased the potential for embezzlement and the need for transportation and storage of supplies. It also allowed for easier accounting. He also applied this practice to taxes, mandating that taxes be paid with cash rather than with goods.[2] He eliminated the practice of providing soldiers with their arms and uniforms; instead he allotted each soldier a generous sum of money with which to purchase their own. These changes to imperial policy seem to have worked well; taxpayers often paid smaller tax bills than they had before, while government revenue increased. The increase in revenue allowed the emperor to pay soldiers a higher wage [3], which attracted native Roman soldiers to the military, as opposed to the barbarian and Isaurian mercenaries which some previous emperors had been forced to rely on. Anastasius is often cited for his "prudent management" of the empire's finances [4]. In 498 the [I]collatio lustralis[/I], a tax on craftsmen, was also abolished, while successful efforts were made to increase the efficiency of tax collection and even to reduce the rates of land taxation. At his death he was able to leave a large surplus of 320,000 pounds of gold, a sum which was largely whittled away by his successors including Justinian in an attempt to reconquer the western territories under the general Belisarius [5] as well as the construction of the famed Hagia Sophia. [IMG]https://lh6.googleusercontent.com/AYstnIa2B8t8Uh0iqoIfPtRXex577YLUAEzusMzR8g4OqyZ3QPmpSJWhG2YrfvF-_BIpryIlQYiG61cW9FqOgvF6VMdewKN4ChXFH13IdXI3JsyKNM_-apiAESOZjRdlQVcg_8g8[/IMG] Credit: Christos Nüssli, Milieu 30, CH-1400 Yverdon, 1998 Here is a new FSR acquisition, characterized by a lovely, glossy green patina: Anastasius, 491-518 A.D. Type: Large AE Follis, 39 mm 19 grams Obverse: DN ANASTASIVS PP AVG, Diademed draped and Cuirassed bust right, star on right shoulder (rare) Reverse: Large M, Epsilon below. Cross above M, star in left field, Mintmark CON [ATTACH=full]1069258[/ATTACH] [ATTACH=full]1069259[/ATTACH] Citations: [1] The Cambridge Ancient History: Late Antiquity: Empire and Successors, 425-600 A.D. (1982). A. Cameron, B. Ward-Perkins, M. Whitby [2] Cameron, Alan, "The House of Anastasius", GRBS 19 (1978): 259-276. [3] Treadgold, Warren (2001). A Concise History of Byzantium. Houndmills, Hampshire: Palgrave. pp. 56 [4] Laiou, Angeliki (2002). The Economic History of Byzantium. Washington DC: Dumbarton Oaks Research Library and Collections. [5] Graves, Robert (1938). Count Belisarius, an Historical novel. Penguin-Random House, L.L.C. ---- Please feel free to share your reformed Byzantine coinage of Anastasius and successors...[/QUOTE]
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