Kids Learning Zone

Money

The Romans started using money after the construction of the first mint in about 290 BC, they followed a system similar to that of the Greeks. Before money the barter system was in use where parties would exchange goods of equal value, 1 sheep for a crate of wine that sort of thing. When money came into being it made paying taxes and wages much easier. Similar to the modern financial system it altered life with trading rates, valuations, inflation, taxes, rising and falling values and costs. The more money you had the better the life you lived but if you were poor then often you had little or no money and your quality of life was not good.

Coins were used to purchase all manner of things from food to slaves, armour to wine and all items used in every day Roman life. An example would be a craftsman may earn one silver denarius a day. To go to the bath house would cost you a single quadran, so it was easily value for money and an essential part of life and you would get change.

Coins were not only good to use to buy things but also they were a means of communication. A coin had a picture of the emperor on obverse side and a picture or design on the reverse side, so as a person using Roman money, thousand of miles from Rome you would know who was the boss and what he looked like and also what was happening in the Roman world simply by using coins. Things like battle victories, celebrations, historical events all featured on coins that helped tell the story of the rise and fall of Rome.

At times when there was a shortage of coins for what ever reason then forgeries became common, these were called 'Barbarous Radiates' and are commonly found in Britain. These kept a supply of coins in circulation until official coins were re-circulated therefore keeping the economy alive because without cash there was no trade or goods.

Roman coins today can tell us a lot about the Roman life and period in Britain. When found in the ground today they can tell us what types of coin they are their circulation and use, but more importantly they can help date a site when they are found especially if it is an archaeological Roman site. They all help to build a picture of Roman life and the occupation periods.

Coin values and denominations changed throughout the Roman period. Names were changed just like the money system today. The money system was very complex depending on which period we look at as it was an ever ever changing thing.

Below is a table of coin values unto the 3rd century where it changed again in denominations and values but we will stick to this period as this was the main occupation of Britain.