Byzantine coinage is considered to begin late in the 5th century with the monetary reforms of
Anastasius I. It was at this time that the characteristic denominations
of the Byzantine Empire first appeared - the gold solidus, a continuation
of the solidus introduced by Constantine I, and the new follis, introduced
by Anastasius as a large bronze coin worth 40 of the tiny bronze nummi
which were the only subsidiary denomination to survive the turmoil of the
4th and 5th centuries AD.
A characteristic of Byzantine
coinage is the use of Christian religious symbolism - from images of the
cross to images of Christ. The old image of Nike (winged goddess of
victory) was converted into a male angel, the cross and the halo became
stock images, and facing busts became the most common method of depicting
people. Byzantine interest in the spirit and in religion is strongly reflected
in their art, and their coins are no exception. Symbolism and mysticism
became central themes in the design of Byzantine gold coins, creating an
intriguing and beautiful coinage.
Gold Denominations: Gold coinage was the economic lifeblood
of the Byzantine Empire and was produced in large numbers to a high standard
and quality for as long as the Byzantines had a source of gold bullion.
The majority of Byzantine gold coins were produced at Constantinople, although
several other mints produced large series of gold coins at various times. -
Solidus:
Basic
gold denomination of the Byzantine Empire and the basis of its monetary
economy. The solidus was maintained at its original weight and purity
until the middle of the 11th century, thus gaining a reputation that made
it the most important coinage for international trade for over 5 centuries.
Equal to 7,200 nummi.
-
Semissis: Worth
1/2 of the solidus.
-
Tremissis:
Worth
1/3 of the solidus. This denomination was the most commonly copied
type used by the Germanic tribes in the former Western Roman Empire.
Silver Denominations: Silver had gradually fallen from usage
during the late Roman Empire, partly due to a shortage of the metal as
it continued to be exported to the East in exchange for luxury goods.
Thus silver was generally not used very much by the Byzantines in coinage,
though there was a revival of its use in the 7th century as new sources
for the metal were discovered.
-
Hexagram:
Introduced by Heraclius (610 -641) as the double of the miliarense, or 1/6 of a solidus. These pieces were the first
silver coins to be produced in large quantities by the Byzantines. The hexagram replaced the miliarense and was, in turn, replaced by the miliaresion during the early 8th century.
-
Miliarense: The
basic early Byzantine silver denomination equal to 1/12 of a solidus, or
600 nummi. The miliarense was replaced by the miliaresion
which was to last from the reign of Leo III (717 - 741) until the reforms
of Alexius I in the late 11th century.
-
Siliqua: Worth
1/2 of a miliarense.
Bronze Denominations: The Byzantine economy was highly monetized,
with coinage being used for transactions at every level, right down to
small purchases for daily subsistence. Bronze coinage was the medium
which allowed these humble transactions to occur at a time when most of
the world relied on barter for small transactions.
-
Follis: The
basic denomination of Byzantine bronze coinage. The follis was valued
at 40 nummi and 180 folles equaled 1 solidus. The follis lasted from 498,
when it was created by the reforms of Anastasius I, until the reforms of
Alexius I in 1092 after the collapse of the old monetary system.
-
Nummus: The
smallest denomination of Byzantine coinage. These coins are relatively
rare and were not often struck.
These were the basic denominations for early Byzantine
coinage, but there were many more, particularly in the bronze coinage.
Some denominations were very short lived, including the miliarense, which
had several replacements over the centuries, while others were as long
lived as the solidus. The Byzantine monetary economy collapsed during
the mid-11th century and was only stabilized at the end of the century
by Alexius I. The old monetary system was replaced by 4 denominations
- the gold hyperperon, the electrum
aspron trachy (1/3 of the hyperperon), the billon aspron trachy (1/48
of the hyperperon), and a copper tetarteron. It was during this period
that Byzantine coinage began to be struck in scyphate (cup-shaped)
form. This system lasted throughout the 12th century until the disastrous Latin (Crusader)
conquest of Constantinople in 1204. Byzantine gold coinage was suspended
during the 14th century after a series of debasements, and the Byzantine
Empire ended its long numismatic history with a modest silver and bronze
coinage. |
