AUTHORISING THE PRODUCTION OF SMALL CHANGE

In previous chapters we emphasised the imperial control of the production and primary supply of gold and silver currencies in the Roman empire. The number of mints producing precious-metal coinages during the first two centuries was limited, while minting was mainly restricted to the cities of Rome, Caesarea Cappadociae, Antioch and Alexandria. Among them, the mint of Rome produced the bulk of silver coins that circulated in the eastern provinces. The emperor controlled these mints either directly or indirectly, since he needed these coins in order to pay for his military and administrative expenses. The mint of Rome did not restrict itself in the production of silver and gold currencies but it also produced large numbers of bronze coins. When Augustus reformed the monetary system, he introduced small change made of orichalcum (sestertius and dupondius) or copper (as and quadrans). These denominations may have been used, initially, for state payments; eventually, though, they facilitated minor commercial transactions in the markets.

With regard to the circulation of aes we may assume that originally, it was intended mainly for circulation in Rome and Italy; however, soon it was spread over the western provinces and especially in the Rhine army camps. The Roman aes was used extensively in the urbanised western provinces, especially in Iberian and Punic towns that had produced civic coinages for centuries.