Denarius, Emperor Hadrian, Indulgentia Reverse – 129 to 130 CE – Roman Empire – Auction 9/6/23 Outlet Factory Outlet

Includes complimentary glass top display box.

Obverse: Head of Hadrian

Reverse: Indulgentia seated left, extending hand and holding sceptre

Emperor Hadrian (76–138 CE) was a Roman ruler known for his contributions to the arts, architecture, and governance. Ascending to the throne in 117 CE, he is often remembered as a capable and pragmatic leader. Hadrian is renowned for his extensive travels throughout the Roman Empire, during which he oversaw the construction of various architectural marvels, including Hadrian’s Wall in Britain and the Pantheon in Rome. His interest in Hellenic culture and philosophy is evident in his patronage of the arts and his architectural endeavors. Hadrian’s policies also aimed to stabilize and strengthen the empire’s borders, emphasizing diplomacy and defensive strategies. His reign left a lasting impact on Roman history, marked by a blend of cultural innovation and administrative reforms.

What is a denarius?

The Roman denarius was an ancient silver coin that played a central role in the Roman economy from the late Republican era through the Imperial era. Originally, it was a high-quality silver coin, consisting of roughly 95% pure silver. However, as the Roman Republic transitioned into the Roman Empire, the silver content of the denarius gradually decreased in a process known as debasement. This allowed the government to produce more coins with the same amount of silver, which was primarily driven by the financial pressures of funding wars, infrastructure projects, and maintaining the empire’s vast territories.

As the silver content of the denarius decreased, it lost its intrinsic value, leading to inflation. Inflation is a general increase in the prices of goods and services, which reduces the purchasing power of money. As the denarius became less valuable, the cost of everyday items increased, and people needed more coins to buy the same goods. This inflation had a significant impact on the Roman economy and contributed to the empire’s eventual decline.

In an attempt to stabilize the economy, Emperor Diocletian introduced a new silver coin called the argenteus in 294 CE, which was meant to replace the debased denarius. Unfortunately, this new coin also experienced rapid debasement and failed to stabilize the economy, highlighting the difficulties in managing a currency system throughout history.

All purchases include a Certificate of Authenticity. You will receive the exact coin in this photo, along with a glass top leatherette display box.