Coins of the 4th Century AD
Changes in Roman bronze coinage of the 4th Century AD
The antoninianus (215-294 AD)
During and leading up to the 4th century AD, we see many instances of reform to the coinage of the Roman Empire. One particularly important change was the discontinuation of the ‘silver’ (radiate) antoninianus denomination by Diocletian in 294 AD, to be replaced by silver-free "post-reform radiates", which finally found disuse in the west by about 299 and in the east by 307.
The Follis (‘large’ 294-306 reduced nummus 306-byzantine era)
During the same 294 AD coinage reform in which the antoninianus denomination found its demise, we see the issue of a new denomination known as "surface silver enriched" follis coins (these were likely referred to as 'nummus' as we now know that follis the word for a bag of coins). At first, these coins held the same silver content as late pre-reform antoninianus coins (about 4%) and had a weight of around 10 grams. This denomination saw a steady reduction in size and silver content over the years. During the early years of Constantine reign as caesar in the west, the weight of this denomination was reduced in London, Lugdunum and Treveri and then again across most of the Empire to 4.4 grams by 307 AD. By 313 AD, a decision by both Constantine and Licinius reduced the size of the follis to 18-20 mm with a weight of 3.1 grams. This module design survived until 330 AD, when it was yet again reduced to 17mm and a weight of 1.9 grams. In 336 AD, we see a final weight reduction of Constantine to the now heavily reduced ‘follis’ coin, which now weighed 1.3-1.6 grams and could be found to have a diameter under 17mm. In order to curb the rampant reduction in the denomination of the follis, Constans and Constantius II made attempts between 320 and 340 AD to introduce a larger denomination which was now known as the bronze centenionali. By the reform of Constantius II in 346 AD, a ‘double centenionali’ known as a Pecunia maiorina was introduced. These two coins had the sizes and weights of 21-24mm/5.45g and 17-20mm/2.7g respectively. The size of the smaller centenionali lasted until the reign of Theodosius I whereas the Pecunia maiorina was de-monetised by an edict in 354 AD. These reduction in the size, weight and silver content of the follis coin during the 4th & 5th centuries directly reflect the inflationary pressures afflicting the empire which had had a devastating effect on the economy during the 3rd Century AD. By the early 5th century, small bronze coins known as Nummi Minimi were being issued at under 11mm and 1.2g at an average exchange rate of 7200 to a single gold gold solidus coin.
Classification by Diameter
AE1 from 25 mm
AE2 from 21 mm
AE3 from 17 mm
AE4 under 17 mm
The antoninianus (215-294 AD)
During and leading up to the 4th century AD, we see many instances of reform to the coinage of the Roman Empire. One particularly important change was the discontinuation of the ‘silver’ (radiate) antoninianus denomination by Diocletian in 294 AD, to be replaced by silver-free "post-reform radiates", which finally found disuse in the west by about 299 and in the east by 307.
The Follis (‘large’ 294-306 reduced nummus 306-byzantine era)
During the same 294 AD coinage reform in which the antoninianus denomination found its demise, we see the issue of a new denomination known as "surface silver enriched" follis coins (these were likely referred to as 'nummus' as we now know that follis the word for a bag of coins). At first, these coins held the same silver content as late pre-reform antoninianus coins (about 4%) and had a weight of around 10 grams. This denomination saw a steady reduction in size and silver content over the years. During the early years of Constantine reign as caesar in the west, the weight of this denomination was reduced in London, Lugdunum and Treveri and then again across most of the Empire to 4.4 grams by 307 AD. By 313 AD, a decision by both Constantine and Licinius reduced the size of the follis to 18-20 mm with a weight of 3.1 grams. This module design survived until 330 AD, when it was yet again reduced to 17mm and a weight of 1.9 grams. In 336 AD, we see a final weight reduction of Constantine to the now heavily reduced ‘follis’ coin, which now weighed 1.3-1.6 grams and could be found to have a diameter under 17mm. In order to curb the rampant reduction in the denomination of the follis, Constans and Constantius II made attempts between 320 and 340 AD to introduce a larger denomination which was now known as the bronze centenionali. By the reform of Constantius II in 346 AD, a ‘double centenionali’ known as a Pecunia maiorina was introduced. These two coins had the sizes and weights of 21-24mm/5.45g and 17-20mm/2.7g respectively. The size of the smaller centenionali lasted until the reign of Theodosius I whereas the Pecunia maiorina was de-monetised by an edict in 354 AD. These reduction in the size, weight and silver content of the follis coin during the 4th & 5th centuries directly reflect the inflationary pressures afflicting the empire which had had a devastating effect on the economy during the 3rd Century AD. By the early 5th century, small bronze coins known as Nummi Minimi were being issued at under 11mm and 1.2g at an average exchange rate of 7200 to a single gold gold solidus coin.
Classification by Diameter
AE1 from 25 mm
AE2 from 21 mm
AE3 from 17 mm
AE4 under 17 mm