coins were then laid on an anvil that held the obverse die and
struck with a hammer by a punch that contained the reverse
die. By the nature of this process, the obverse die lasted three
to four times longer than the reverse die and was considered
the more important side, the side upon which the most im-
portant images and inscriptions were incised. In general, the
obverse side of a coin would contain a portrait head, most
commonly of a deity in the Republic and of the emperor dur-
ing the empire, while the reverse contained a range of im-
ages—individuals, structures, gods, and events. Emperors
were usually presented with a range of standard and honor-
ifi c titles. Julius Caesar was the fi rst living Roman to have his
portrait on a coin.
Th e various designs that appear on both the obverse and
reverse of a coin can provide valuable material for the his-
torian. Coins were a useful vehicle for the dissemination of
information and off er an important resource for evaluating
offi cial communication and propaganda. Th e Roman govern-
ment, for instance, could advertise its military success to the
whole empire by minting and distributing a commemorative
issue. Th e emperor Vespasian, for instance, minted a coin-
age series commemorating the end of the fi rst Jewish revolt
(70 c.e.) that portrayed a personifi cation of the province of
Judaea mourning beneath a Roman soldier. Conversely, the
government could attempt to mask national problems by
minting coins that celebrated nonexistent virtues or military
successes. For example, an emperor might choose to mint a
coin series celebrating national unity (“Concordia”) at times
of civ i l wa r. Such propa ga nd ist ic is sue s were pa r t ic u la rly pop-
ular during the crisis-plagued period of civil wars and insta-
bility of the third century c.e. In rare instances, coins provide
the only known evidence for some would-be emperors and
usurpers. Similarly, some coins contain representations of
buildings and famous statues that no longer, or only partially,
remain. Th ese images, though highly stylized, can provide a
wealth of information about the basic form and decorative
schema of a wide range of public structures. One example of
this is the Temple of Neptune in Rome, whose representation
survives only on a coin and whose location even within the
city is unknown.
Other forms of studying coins can provide informa-
tion about economics (through analysis of metal content in
coins), the numbers of coins in circulation, circulation and
movement of coins (through analysis of wear patterns), and
patterns of economic exchange (by mapping the distribu-
tion of coin fi nds). Th e content of metals (especially silver)
can refl ect economic diffi culties. Th e pattern of debasement
is interesting, as it demonstrates a naive approach to manag-
ing decreasing access to silver. Th e resulting infl ationary cri-
ses were signifi cant and ultimately devastating to the Roman
economy and its stability.
One particularly interesting area of inquiry is the pattern
of coin hoards in the Roman world. A coin hoard exists when
more than two coins are found together. Th ree major types
of hoard can be identifi ed: purse, emergency, and savings.
Th e purse hoard is a small collection of coins, usually of frac-
tional denominations. Such an assemblage is similar to the
money carried in one’s wallet for everyday purposes. At Pom-
peii, for instance, a tremendous number of purse hoards were
found in association with human remains. Th e purse hoard
can be valuable in demonstrating certain aspects of a cash-
based economy, by suggesting the types of coins that people
regularly carried. Th e emergency hoard consists of coins col-
lected and hidden hastily, sometimes buried alone or under
the fl oor of a residence to prevent it from being discovered.
Such hoards are usually distinguished by their haphazard
collection of coins and frequent inclusion of precious metal
in other forms, as well as jewelry and gems. In contrast, the
savings hoard is distinguished by its oft en-striking regularity
in the types and quality of the coins gathered together. Like
an emergency hoard, these coins were usually placed in a ce-
ramic vessel or strongbox; in this regard, they are similar to a
pigg y bank (and have been found in such containers). Savings
hoards of Roman coins have been found as far away as India.Cast ingots of bronze (early third century b.c.e.), used as money in Rome before the invention of silver coinage (© Th e Trustees of the British Museum)
money and coinage: Rome 761