Valerian I

253-260 AD

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Pubius Licinius Valerianus was a man from a respected Roman family, Valerian had held various offices in the government during the reign of Trajan Decius. At the time of the revolt of Aemilian against the emperorTrebonianus Gallus, Valerian was summoned to bring his army drawn from garrisons stationed on the Rhine.

Aemilian had marched on Italy much faster than Valerian or Gallus had expected. Gallus marched out to meet Aemilian but was murdered, along with his son, by his own troops. Despite the fact that Aemilian gained the support of the senate, being an ex-consul and senator himself, he failed to win the support of his own troops. As Valerian marched on Italy, Aemilian was also murdered by his own troops leaving Valerian the undisputed contestant to the throne.

Valerian almost immediately raise his own son Gallienus to the rank of joint Augustus. However, the turmoil of the period proved too overwhelming and his reign marks the biginning of a massive decline in the monetary system of the Roman Empire.

The reign of Valerian was marked by numerous frontier disturbances. In 256 AD, Valerian departed Rome for the East in order to deal with the rising threat from Persia. Valerian established his headquarters at Antioch in Syria and mounted his campaign against the Persian from this base of operations. In 257 AD, he appears to have won a great victory, at least according to his coinage. For it was at this time that Valerian took the title”Restorer of the World.” At the same time, Gallienus was waging his campaign on the northern frontier against the Germans.

Despite his initial success, in 260 AD, Valerian attempted a major assault taking his legions through Mesopotamia. In a tactical error, his legions were surrounded and the emperor Valerian was taken prisoner where he finally died.

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Titles & Powers 253-260 AD

AD Tribunician Power Consulship
253 TR.P. COS.
254 TR.P.II. COS.II.
255 TR.P.III. COS.III.
256 TR.P.IIII.
257 TR.P.V. COS.IIII.
258 TR.P.VI.
259 TR.P.VII.
260 TR.P.VIII.

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Monetary System

Mints: Rome, Lugdunum, Milan, Viminacium, Antioch

Obverse legends:

IMP . C. P . LIC . VALERIANVS AVG.
IMP.C.P.UC.VALERIANVSP.F.AVG.
IMP. VALERIANVS AVG.
IMP. VALERIANVS F . AVG.
VALERIANVS P. F. AVG.

Note: The obverse portrait styles for double aureii, antoniniani and dupondil are distinguished by a radiate crown. All other denominations display a laurate bust.

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Inflationary Prompted Monetary Reform

Note: The coinage of Valerian reflects the serious economic dfficulties during his reign. The high cost of defending the empire had taken its toll and there is no better record for that than the coinage of the empire itself. Both the gold and the silver coinage reflects the great difficulties during this period as hyper-inflation dominated the economy. The weight of the gold coinage varies so greatly, that at first glance it would appear as if there were no monetary standards whatsoever. The gold coinage is both irregular in size and weight. The range in weight for the gold coinage varies from as little as 2 grams to nearly 6 grams. It is clear that a double aureus was maintained, first being introduced by Caracalla briefly, and more formally by Trajan Decius (249-251 AD). However, specimens of the double aureus (as illustrated here) show a weight of 5.29 grams on average. This is slightly less in weight compared to the double aureus of Trebonianus Gallus at 5.67 grams. The aureus itself appears to have declined in weight fairly rapidly from 3.25 grams down to 2 grams. The wide variety in weights recorded by Roman Imperial Coinage reference, suggests that the decline in the monetary system was extremely rapid with perhaps the weight being reduced virtually monthly.

The silver antoninianus begins with a weight of about 3.5 grams. Within the first two years of his reign, the weight of this coinage declined below 3 grams. The silver coinage began to decline in weight steadily between 257-258 AD. By late 259 AD, the silver content itself began to declined dropping below 40% becoming a light chocolate bronze coin thinly coated with a silver wash. Ultimately, silver virtually disappeared completely between 262-268 AD under Gallienus and the antoninianus of this later stage had in fact been drastically reduced to the point that the coins were in fact mere bronze immitation thinly coated with a fine silver wash to keep up appearances (much like the withdraw of silver in modern times during the 1965-1968 period). Simultaneously, due to the fact that the once silver antoninianus had become debased to the point of a mere bronze coin itself, the traditional bronze denominations of the sestertius, dupondius and as ceased to be minted. The bronze was being used to coin the much more valuable antoninianus.

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AR Silver Antoninianus

DENOMINATIONS

AU Double Aureus
AU Aureus
AU Quinarius
AR Antoninianus (silver)
AR Denarius (silver)
AR Quinarius (silver)
Æ Sesterius
Æ Dupondius
Æ As

Post-Inflationary Reform

Æ Antoninianus (debased silver)
Æ Denarius (debased silver)

Uranius Antoninus

253-254 AD

Usurper of Syria

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L. Julius Aurelius Sulpicius Uranius Antoninus was a usurper who rose to power in Syria. Uranius was known as the priest-king. He successfully defended Emesa against the Persian invasion led by Shapur I in 253 AD. Although the Persians succeeded in sacking Antioch, they withdrew from the region. Uranius, proclaimed himself emperor during the turbulent year of 253 AD, which marked the fall of Aemilian and the rise of power for Valerian I.

When Valerian I came to power, he was forced tp pay attention to the East. He arrived in Antioch around 254 AD and spent much of his remaining time in the region. Uranius’ rebellion was easily supressed by Valerian I for which he received the title “Restorer of the Human Race.”

The precise events that led to Uranius’ death has escaped history. It is known by his coinage that he coined money at both Emesa and Antioch suggesting that perhaps he had taken Antioch following the withdrawal of the Persian forces. His coinage also attempts to drawn a connection with Elagabalus who also struck aureii displaying the Stone of Emesa, the black stone believed to have been thrown to earth by the gods during Elagabalus’ reign. It is highly doubtful that there was a blood connection between the two men. The only common bond was their shared office of high priest in the city of Emesa.

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Monetary System

Silver Tetradrachm of Antioch, Syria

Mints: Antioch, Emesa

Note: Tetradrachms were issued in Emesa and Antioch. The silver content between the two issues is as different as night and day. We can easily see by even the two photographs presented here, that the Antioch issues are of high silver content in excess of 60%. The Emesa issues appear to be mostly bronze with a very low silver content of less than 30%. The differences between these two issues is a reflection of diverse the trends of inflation were in the Eastern provinces.

Obverse Legends: Emesa

L IVL AVR SVLP VRA ANTONINVS
L IVL AVR SVP ANTONINVS

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DENOMINATIONS

AU Aureus (5.7 grams)
AR Tetradrachm (8.13 grams)

AE Tetradrachm – head left (12.14 grams)

Cornelia Supera

Wife of M. Aemilius Aemilianus

253 AD

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Cornelia Supera is a woman who was completely unknown to history if it had not been for surviving specimens of her coinage. Cornelia was most likely married to the usurper Aemilian and quite possibly a native of Mauretania as was her husband. Prior to Aemilian’s grasp of power, he was the governor of Moesia where Cornelia most likely resided before being given the rank of Augusta by her husband. Nothing is known of her background or of her fate following the murder of Aemilian.

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Monetary System

Mints: Rome, unknown Balkin mint

Obverse Legend:

C.CORNEL . SVPERA AVG.

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DENOMINATIONS

AR Antoninianus (3.8 grams)

 

Marcus Aemilianus

Augustus-October 253 AD

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Marcus Aemilius Aemilianus was born about 207 AD on the island of Jerba off the coast of Tunisia where he came from an insignificant family. Aemilian was a senator, ex-consul and had been governor of Moesia Inferior where he assumed command in 252 AD. Aemilian’s rise to power came when Kniva, chief of the Goths, demanded an increase in tribute from the Romans. Aemilian rebelled against the Goths’ demands and lead a successful campaigne against them along the Danube. His troops were then solidly behind him and proclaimed Aemilian Emperor and his wife, Cornelia Supera, was given the rank of Augusta. Aemilian and his legions then began a march on Italy where they easily overtook Trebonianus Gallus, who was murdered by his own troops.

Aemilian was thus proclaimed Emperor by the Senate of Rome. Unfortunately, the general of the Rhine legions,Valerian, also began his march of Rome initially being summoned for help by the Emperor Trebonianus Gallus.

As an Emperor, Aemilian tried to rule as a general rather than as a supreme ruler. Nonetheless, Aemilian failed to hold the support of his troops when his rival marched on Rome. Valerian was proclaimed Emperor by his troops following the murder of Gallus. Aemilianus advanced to meet Valerian, but he was murdered by his own men as well after a reign of only 88 days. The location where he was killed was known thereafter as the “Pons Sanguinarius”, (the Bridge of Blood). His murder then left Valerian the new master of the Roman World.

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Monetary System

Mints: Rome, unknown Balkan mint

Obverse Legends:

IMP AEMILIANVS PIVI FEL AVG
IMP CAES AEMILIANVS P P AVG

Note: The obverse portrait style for antoniniani and dupondii is radiate, draped bust wearing a cuirass facing right. All other denominations show a portrait style of laurate bust right draped and cuirassed.

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DENOMINATIONS

AU Aureus (6.54 grams)

AU Quinarius (3.14 grams)

AR Antoninianus

AR Denarius

AR Quinarius

Æ Sesterius

Æ Dupondius

Æ As

VOLUSIAN

Double Aureus (Bino)

251-253 AD

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C. Vibius Afinius Gallus Veudumnianus Volusianus was the son of Trebonianus Gallus. Volusian was given the rank of Caesar at the time of his father’s accession while the son of Trajan Decius, Hostilanus, was raised to the rank of joint Augustus. To further cement Volusian’s path to the throne, he was married to Trajan Decius’ daughter. Following the death of Hostilian, due to the plague of 252 AD, Volusian was immediately raised to the rank of joint Augustus.

The Governor of Moesia, Aemillian, began a revolt and marched upon Italy. He convinced the vastly outnumbered troops of Gallus and his son Volusian to abandon the leader and support his cuase. Indeed, Volusian and his father fell victim to an internal plot and were murdered by their own troops in 253 AD.

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Monetary System

Mints:

Obverse legends:

As Caesar 251 AD

C VOLVSIANO CAES.

As Augustus
IMP . CAE . C . VIB . VOLVSIANO AVG.

Note: The obverse type for double aureii, antoninianii and dupondii is radiate crowned bust right. All other denominations used a laurate bust right portrait style. The bust is normally depicted draped wearing a cuirass. However, the cuirass at times is faint and may even be completely missing on some specimens.

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DENOMINATIONS

AU Double Aureus (6.13 grams)
AU Aureus (3.43 grams)
AU Quinarius
AR Antoninianus (2.5 grams)
AR Quinarius
Æ Sesterius
Æ Dupondius
Æ As

 

Trebonianus Gallus

251-253 AD

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C. Vibius Trebonianus Gallus was born about 206 AD at Perugia in Italy. He was a Senator, had served as Consul and was Governor of Upper Moesia beginning around 250 AD. Trebonianus Gallus served in the army holding a high rank and playing a leading role in the Danube wars under Trajan Decius. Following Decius’s death in a trap set by the Goths, Gallus assumed the rank of Augustus. It is not known as to how or why, but Gallus adopted Decius’ younger son Hostilianus. It might have been due to pressure from the troops, but Hostialianus, still in Rome and too young to rule, was appointed joint Emperor. Gallus’s own son, Volusianus, was given the rank of Caesar.

Gallus’ first act was to conclude a peace with the Goths, but on terms which many in Rome felt to be disgraceful and would serve only to encourage future aggression on the part of the Goths. Gallus agreed to the Goths retaining all the booty and roman captives they had won. In addition, Gallus agreed to pay the Goths an annual tribute.

The reign of Gallus was a troubled period beset with invasions on both the Northern frontier by the Goths (emerging from southern Russia into Greece & Turkey) and on the Eastern frontiers by the Persians who overran Syria capturing the city of Antioch – the third largest city in the Roman Empire at that time. Things were merely worsened by a devastating plague that swept the empire taking even the life of the joint-Emperor, Hostilian. But at least here, Gallus won praise of the people by ensuring a proper burial for everyone including the poor.

The Goths soon broke their treaty with Gallus and began to invade Roman Territory on the lower Danube. In 252 AD, Aemilius Aemilianus , the Governor of Upper Moesia, inflicted a severe defeat on the Goths and was immediately proclaimed Emperor by his troops. The following year Aemilianus invaded Italy, forcing Gallus to muster his troops in defense of his reign. By August 253 AD, Aemilianus had reached within 50 miles of Rome itself. Support for Gallus collapsed and he with his son Volusian were both murdered by their own soldiers.

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Monetary System

Mints: Rome, Milan, Antioch

Obverse legends:

IMP . CAR . C . VIB . TREB . GALLVS AVG.
IMP . CAES . C. VIBIVS TREBONIANVS GALLVS AVG.

NOTE: The obverse types for double aurei, antoniniani and dupondii are all radiate bust right, and for all other denominations, laurate bust facing right. The bust is normally depicted draped and wearing a cuirass, although often the cuirass may be very faint and on some specimens completely missing.

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Monetary Reform

Monetary Reform became necessary by the time Gallus came to power due to persistent inflationary pressures. Gallus reformed the gold coinage by reducing the weight of the aureus from 66.5 grains to 55.2 grains. This denomination was distinguished by his laurate portrait. A Double Aureus(Bino) was also struck with a radiate crowned bust weighing on average 90.5 grains. Many numismatists merely argue that the relationship between these two coins cannot be certain. However, based upon the radiate crown tradition being used to distinguish double denominations in bronze (established by Nero for the dupondius) and the double denominations of gold and silver issued by Caracalla, such arguments hold little attraction or logic. As to the relationships to other denominations, it is safe to assume that nothing changed and in fact this monetary reform marked a reduction in weight for the gold coinage in an effort to keep pace with the drastic reduction in fineness for the silver coinage since the time of Nero.

Additionally, there appears to be a near perfect double weight issue of Antoninianus averaging 6.85 grms compared to the normal weight for this period of 3.70 grms. Heavy antoninianus are known from the time of Philip I, but such weights are only a 50% increase over and above normal issues. From the time of Trebonianus Gallus into as late as Valerian II, near perfect DOUBLE weight antoninianii appear. This at least suggests that there is a potential for such issues to be regarded as DOUBLE Antoninianii. This appears likely given the fact that just prior to Gallus taking the throne, the introduction of a DOUBLE sesterius was made by Trajan Decius. Clearly, the inflationary pressures at this point in the monetary history of Rome were significant thus lending support to the fact that double antoninianii would have been economically feasible to introduce.

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DENOMINATIONS

AU DOUBLE Aureus (Bino 6.54 grams)
AU Aureus (6.54 grams)
AU Quinarius (4.61 grams)
AR DOUBLE Antoninianus (6.85 grams)
AR Antoninianus (3.70 grams)
AR Quinarius
Æ Sesterius
Æ Dupondius
Æ As

 

Hostilian

251 AD

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Gaius Valens Hostilianus Messius Quintus was the younger son of Trajan Decius and Herennia Etruscilla. In 251 AD, his older brother Herennius Etruscus was raised to the rank of Augustus and Hostilian was given the rank of Caesar. While his father and brother were campaigning against the Goths, Hostilian had remained in Rome with his mother. Upon receiving word that both his father and brother were massacred at Abrittus by the Goths, Decius’ leading general Trebonianus Gallus was proclaimed Emperor.

To some degree, many blamed Gallus for failing to prevent the massacre of Decius and his eldest son. To placate supporters of Decius, Gallus allowed Herennia to retain the title of Augusta and raised the young Hostilian to the rank of Augustus as his co-ruler. To further strengthen the bond, Hostilian’s sister was married to Volusian, the son of Trebonianus. Unfortunately, Hostilian’s rule as Augustus proved to be very brief. After a very short reign, Hostilian died of plague in 251 AD, which devasted the population at that time. Herennia faded into history and Gallus, along with his own son Volusian, were murdered by their own troops in 253 AD.

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Monetary System

Note:Gold coinage of Hostilian as Augustus is not known. It is quite possible that none was struck due to the fact that he died very shortly after receiving the rank of Augustus.

Mints: Rome

Obverse legend:

C VALENS HOSTIL MES QVINTVS N C
C VAL HOS MES QVINTVS N C
C OVAL OSTIL MES COVINTVS CAESAR
IMP CAE C VAL HOS MES QVINTVS AVG
IMP CAE C VAL HOS MES QVINT AVG

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DENOMINATIONS

As Caesar

AU Aureus (6.54 grammes)
AR Antoninianus
AR Quinarius
Æ Sesterius
Æ Dupondius or As

As Augustus

AR Antoninianus
Æ Sesterius
Æ As

Herennius Etruscus

As Caesar 250-251 AD
As Augustus 251 AD

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Quintus Herennius Etruscus Messius Decius was the eldest son of Trajan Decius and Herennia Etruscilla. Herennius was raised to the rank of Caesar in 250 AD and the following year, 251 AD, he received the rank of Augustus. Soon after becoming co-emperor, he joined his father on the frontier war against the Goths. Herennius himself led the troops into Moesia to protect the Danubian provinces. He was at his father’s side throughout most engagements into the disasterous battle at Abrittus in June 251 AD. Both he and his father were killed in that battle against the Goths led by Kniva.

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Monetary System

Mints: Rome, Milan, Antioch

Obverse Legends:

As Caesar

HER ETR MES DECIVS NOB C
HEREN ETRV MES QV DECIVS CAESAR

As Augustus

IMP C Q HER ETR MES DECIO AVG

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DENOMINATIONS

As Caesar

AU Aureus (6.54 grams)
AR Antoninianus
AR Denarius (3.54 grms)
AR Quinarius (1.58 grms)
Æ Sesterius
Æ Dupondius or As

As Augustus

AU Aureus (6.54 grams)
AR Antoninianus

Herennia Etruscilla

Wife of Trajan Decius

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Herennia Cupressenia Etruscilla was descended from an old Italian family. She was the wife of Trajan Deciusand the mother of Herennius Etruscus and Hostilian. She received the title of Augusta about 250 AD. Not a great deal is known about her. However, she did support her husband’s persecution of Christians.

Herennia’s world was shaken apart when new reached Rome that her husband and son had been killed in battle of Abrittus at the hands of the Goths under Kniva, the political tensions in Rome were great. For this reason, Herennia was allowed to retain the title of Augusta by the new emperor Trebonianus Gallus. Hostilian, her youngest son, was also retained and raised to the rank of Augustus as co-emperor with Trebonianus Gallus. Her daughter was also married to Volusian, son of Trebonianus to strengthen the political bond in hopes of creating a more stable government in Rome. Unfortunately, Hostilian soon died from the plague and Herennia faded from history.

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Monetary System

Mints: Rome, Antioch, Milan

There are two varieties of obverse portrait styles:

Draped bust right with Diadem

Portrait on Antoninianus & Double Sesterius

Draped bust right with Diadem
resting on crescent.

Obverse Legend:

HER. ETRVSCILLA AVG.

Note: The coinage issued in Herennia’s name was most likely struck only during her husband’s reign. We do find the very rare Double Sesterius issued in her coinage but no known Double Aureus has yet been discovered. Given the political situation and the scarcity of gold at the time, it is highly unlikely that any Double Aureus was struck in her name.

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DENOMINATIONS

AU Aureus (6.54 grammes)
AU Quinarius (4.61 grammes)
AR Antoninianus
AR Denarius
AR Quinarius
Æ DOUBLE Sesterius
Æ Sesterius
Æ Dupondius
Æ As

Trajan Decius

249 – 251 AD

First emperor from the Balkins

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C. Messius Quintus Traianus Decius was born about 201 AD in the Bulkans at Budalia of Lower Pannonia. Decius not merely came from a military background but had also attained senatorial rank early in his career serving as consul in 232 AD. Decius was also governor of Lower Moesia. He then served as governor of Hispania between 235 and 238 AD followed by urban prefect in Rome under Philip I.

Philip I hardly provided inspiration during his reign. Numerous uprising along the northern frontier had taken place internally, not to mention the constant threat of the Goths. The failed rebellion of Pacatian in Upper Moesia, prompted Philip to despatch Trajan Decius to restore order to the region. Philip’s great mistake was to appoint Trajan Decius governor of both Moesia and Pannonia making him one of the most powerful men in the empire in terms of the number of legions at his command. The dissatisfaction of the troops in the Balkins still remained despite the murder of the usurper. Decius set about to stem the tide of the invadingGoths and after his success, the troops convinced Decius to accept their decision to promote him to the office of Emperor.

Trajan Decius and his legions marched on Rome and confronted Philip around September 249 AD in Macedonia. Philip was soundly defeated and died in battle. When the news of Decius’ victory reached Rome, the praetorians immediately murdered Philip’s young son – Philip II.

Decius then advanced to Rome where he took the reigns of power. It was at this time that he took the surname “Trajanus” in memory of Trajan (98 – 117 AD) and his great Dacian victories. Decius then began a series of economic and monetary reforms as well as public works including the construction of baths and the restoration of the Colosseum. However, Decius is remembered for his severe persecution of the Christians, during which Pope Fabian was killed.

In 250 AD, the Goths crossed the Danube once again terrorizing Thrace. Decius raised his son Herennius Etruscus, named after his mother Herennus Etruscilla, to the rank of Caesar. There was also another usurper, one Titus Julius Priscus, who was killed shortly thereafter. However, the following year brought another usurper Julius Valens Licinianus in Rome itself with the support of the Senate. However, by the end of March 251 AD, Valens was murdered.

Trajan Decius raised his son, Etruscus, to the rank of co-emperor in 251 AD and his youngest son, Hostilianto the rank of Caesar. Shortly thereafter, Trajan Decius and his eldest son Etruscus were both killed in battle against the Goths. Decius was the first Roman Emperor to die in battle by an external enemy. Hostilian died later that year due to the plague.

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Monetary System

Gold Aureus

Mints: Rome, Milan, Antioch

Obverse legend:

IMP C M Q TRAIANVS DECIVS AVG

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The normal obverse type for antoniniani, double sesterii and dupondii is radiate bust right draped and/or cuirassed. All other denominations portray a laureate bust right draped and/or cuirassed.

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Monetary Reform

Trajan Decius enacted a major monetary reform concerning both the bronze and the gold coinage. This reform is a reflection of the growing hyper-inflationary pressures that were developing during the 3rd century with great momentum. Decius reintroduced a Double Aureus, which had previously made a brief appearance during the reign of Caracalla (198 – 217 AD). We also find the introduction of a Double Sesterius. This spectacular large bronze denomination was in fact close in weight and size to the sesterius of the Julio-Claudian era. The introduction of this denomination suggests that the older sesterii may have been valued on the street at a much higher premium to that of the current issues. The hoarding of older sesterii was most likely the result, much as was the case in modern times, when silver was withdrawn from the coinage during the mid-1960’s. The Double Sesterius appears to have been introduced at about 39 grams but quickly declined to 29 grams. The Double Aureus weight appears to vary between 6.2 and 5.6 grams compared to an average weight of 4.5 grams for the aureus itself. Therefore, the monetary value of both these new denominations was in fact an extension of the current inflation by allowing higher denominations to be coined at only a 50% increase in the cost of production.

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DENOMINATIONS

AU Aureus (6.54 grams)
AU Quinarius (3.61 grams)
AR Antoninianus
AR Denarius
AR Quinarius
AE DOUBLE Sesterius
AE Sesterius
AE Dupondius
AE As

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Commemorative Coinage

Trajan Decius struck a series of antoniniani commemorating many of the deified Emperors of Rome from Augustus to Severus Alexander. The series is known to have two reverse styles and altar or an eagle. The last such great commemorative series had been struck by the Emperor Trajan (98 – 117 AD).