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The fineness of Roman imperial and provincial coinage has been
regarded as an indicator of the broader fiscal health of the Roman
Empire, with the apparent gradual decline of the silver content
being treated as evidence for worsening deficits and the
contraction of the supply of natural resources from which the coins
were made. This book explores the composition of Roman silver
coinage of the first century AD, re-examining traditional
interpretations in the light of an entirely new programme of
analyses of the coins, which illustrates the inadequacy of many
earlier analytical projects. It provides new evidence for the
supply of materials and refining and minting technology. It can
even pinpoint likely episodes of recycling old coins and, when
combined with the study of hoards, hints at possible strategies of
stockpiling of metal. The creation of reserves bears directly on
the question of the adequacy of revenues and fiscal health.
The debasement of coinage, particularly of silver, was a common
feature of pre-modern monetary systems. Most coinages were issued
by state authorities and the condition of a coinage is often seen
(rightly or wrongly) as an indicator of the broader fiscal health
of the state that produced it. While in some cases the motives
behind the debasements or reductions in standards are clear, in
many cases the intentions of the issuing authorities are uncertain.
Various explanations have been advanced: fiscal motives (such as a
desire to profit or a to cover a deficit caused by the failure to
balance expenditure and revenues); monetary motives (such as
changing demand for coined money or a desire to maintain monetary
stability in the face of changing values of raw materials or labour
costs); pressure from groups within society that would profit from
debasement; misconduct at the mint; or the decline of existing
monetary standards due to circulation and wear of the coinage in
circulation. Certain explanations have tended to gain favour with
monetary historians of specific periods, partly reflecting the
compartmentalization of scholarship. Thus the study of Roman
debasements emphasizes fiscal deficits, whereas medievalists are
often more prepared to consider monetary factors as contributing to
debasements. To some extent these different approaches are a
reflection of discrepancies in the amount of documentary evidence
available for the respective periods, but the divide also
underlines fundamentally different approaches to the function of
coinage: Romanists have preferred to see coins as a medium for
state payments; whereas medievalists have often emphasized exchange
as an important function of currency. The volume is
inter-disciplinary in scope. Apart from bringing together monetary
historians of different periods, it also contains contributions
from archaeometallurgists who have experience with the chemical and
physical composition of coins and technical aspects of production
of base alloys.
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Free (Paperback)
J Kevin Butcher
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R454
R373
Discovery Miles 3 730
Save R81 (18%)
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Out of stock
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The fineness of Roman imperial and provincial coinage has been
regarded as an indicator of the broader fiscal health of the Roman
Empire, with the apparent gradual decline of the silver content
being treated as evidence for worsening deficits and the
contraction of the supply of natural resources from which the coins
were made. This book explores the composition of Roman silver
coinage of the first century AD, re-examining traditional
interpretations in the light of an entirely new programme of
analyses of the coins, which illustrates the inadequacy of many
earlier analytical projects. It provides new evidence for the
supply of materials and refining and minting technology. It can
even pinpoint likely episodes of recycling old coins and, when
combined with the study of hoards, hints at possible strategies of
stockpiling of metal. The creation of reserves bears directly on
the question of the adequacy of revenues and fiscal health.
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