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Byzantine Coinage
B YZANTINE C OINAGE
Philip Grierson
Dumbarton Oaks Research Library and Collection
Washington, D.C.
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© 1999 Dumbarton Oaks
Trustees for Harvard University
Washington, D.C.
All rights reserved
Printed in the United States of America
Second Edition
Cover illustrations : Solidus of Justinian II (enlarged 5:1)
ISBN 0-88402-274-9
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PREFACE
edition of Byzantine Coinage , originally published in 1982 as number 4 in
the series Dumbarton Oaks Byzantine Collection Publications. Although the
format has been slightly changed, the content is fundamentally the same. The
numbering of the illustrations,* however, is sometimes different, and the text
has been revised and expanded, largely on the advice and with the help of
Cécile Morrisson, who has succeeded me at Dumbarton Oaks as advisor for
Byzantine numismatics. Additions complementing this section are tables of val-
ues at different periods in the empire’s history, a list of Byzantine emperors,
and a glossary.
The second part of the publication reproduces, in an updated and slightly
shorter form, a note contributed in 1993 to the International Numismatic
Commission as one of a series of articles in the commission’s Compte-rendus
sketching the histories of the great coin cabinets of the world. Its appearance in
such a series explains why it is written in the third person and not in the first. It
is a condensation of a much longer unpublished typescript, produced for the
Coin Room at Dumbarton Oaks, describing the formation of the collection and
its publication.
* The coins illustrated are in the Dumbarton Oaks and Whittemore collections and are re-
produced actual size unless otherwise indicated. Weights are given in grams.
III
T his publication essentially consists of two parts. The first part is a second
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H ISTORY AND D ENOMINATIONS
Phases of the Coinage
differing from it only in being Christian in religion and Greek in lan-
guage. No elements in its coinage, however, apart from the use of Latin in its
inscriptions, go back before the fourth century A . D . The coinage of the early
Roman Empire disappeared in the great currency inflation of the second half of
the third century, and a new system took shape gradually under Diocletian
(284–305) and his Christian successor, Constantine I the Great (306–337).
This system involved a gold coin known as a solidus (or nomisma in Greek) and
a varying number of denominations of silver, billon (debased silver), and
bronze, whose weights were altered several times in the course of the fourth
century and whose names and value relationships have long been the subject of
debate.
The Constantinian subsidiary coinage in turn collapsed in the early fifth
century, at the time of the barbarian invasions. All that survived at the accession
of the emperor Anastasius I in 491 was the gold solidus and its two fractions,
the half (semissis) and the third (tremissis), and a tiny copper coin known as a
nummus, worth, in the mid-fifth century, 1/7200 of the solidus and weighing
less than 1 gram. In order to provide a stable subsidiary coinage, in 498
Anastasius introduced a series of multiples of the nummus, the chief of them
1
T he Byzantine Empire regarded itself as a continuation of the Roman Empire,
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being a copper coin worth 40 nummi and known as a follis (Fig. 29). This de-
nomination was to be one of the most conspicuous features of Byzantine coin-
age for the next six centuries, and since only the solidus and its fractions are
earlier in date, it is with the creation of the follis that a history of Byzantine
coinage can most conveniently be begun.
This history can be roughly divided into five periods. The first, extending
from Anastasius I (491–518) to the mid-eighth century, is characterized by the
use of three denominations of gold coins (Figs. 4, 6, 7) and four (sometimes
five) of copper (Figs. 29–31, 33, 34), with, from 615 onward, one denomination
of silver as well (Fig. 19). This wide range of coins was made possible by the use
of three metals, and in this respect it is comparable to modern coinage. The
second period, from the eighth to the late eleventh century, saw the simplifica-
tion of this pattern to only three denominations, one in each metal: the
nomisma (Fig. 11), a silver coin known as a miliaresion (Fig. 20), and the follis
(Fig. 38).
The third period, dating from the monetary reform carried out by the em-
peror Alexius I Comnenus (1081–1118) in 1092 and lasting to roughly the end
of the thirteenth century, is characterized by the use of several denominations
of debased metal (called trachea by contemporaries) that were strikingly differ-
ent from normal coins in being concave instead of flat (Fig. 15). The highest
denomination was a coin of slightly base gold known as a hyperpyron (Fig. 16),
which replaced the old nomisma of pure gold. A coin of much baser gold (Fig. 17)
revived the functions of the long-defunct tremissis, while small change was pro-
vided by trachea of very base silver (Fig. 25), which eventually became copper,
and by two denominations of small flat coins that were copper (Fig. 40), one
briefly becoming lead. The fourth period, lasting from soon after 1300 to the
mid-fourteenth century, saw the introduction of a silver coin, the basilicon
(Fig. 26), modeled on the silver ducat of Venice, and a small copper coin
known as an assarion (Fig. 41). Finally, the fifth period, lasting from the middle
of the fourteenth century until the fall of the empire in 1453, saw the complete
disappearance of gold coins and a return to ones of pure silver (Figs. 27, 28),
2
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