The End of Barter System

The Roman Republic, throughout the 5^th and 4^th centuries BC had a barter system. Thus various goods were exchange for other goods. These included: farm products, livestock, as well as services. However, the republic continued its expansion, heading towards a point when its economy required another system, a more effective one.

Thus various pieces of metal, such as bronze, began to be used for buying goods. Such lumps were called Aes Rude, meaning raw bronze. Metal lumps were used not only in the field of coinage but also in production of various tools.

First True Roman Coin

Aes Rude became a widely used mean of buying goods in Roman society. However, the first real Roman coin, called the Aes Signatum, meaning signed bronze, was the one to replace Aes Rude. This happened around the beginning of the 3rd century BC.

Roman coins, entitled Aes Signatum, represented more than some metal pieces. These coins had an accurately developed rectangular shape and in addition they all had stamps with raised designs.

The first Roman coins had a particular value. They were cast with special marks, which proved the fact that they were issued by the government authority. Each Aes Signatum had its weight standard, which was 160 grams. The weighting standard of Roman coins excluded the need for traders to weight them during each transaction. Due their heavy weight and a single denomination these Roman coins were quite uncomfortable for transactions, thus the need of a replacement occurred.

Heavy Bronze Era

After a few years of the first Roman coin domination, a more clearly defined type of coin was developed. The new Roman coin considerably eased the trade. Aes Grave, which means heavy bronze, came into use around 269 BC. The coin had several denominations, which allowed it to become more functional and thus gain more popularity among the Roman society.

A better currency system significantly improved the trade of ancient Rome with other civilizations. The new Roman coins had carvings of exotic animals on them. Later Aes were issued with a ship's prow. Such coinage later evolved into Roman’s basic monetary unit, called the As.

Silver Coinage Introduction

When the new silver coinage was launched into the market, it steadily overlapped Aes Grave circulation. For easing their trade with other cultures, such as the Greek one, Roman moneyers, throughout the 3rd century BC, were obliged to become more obedient.

In ancient Greece silver coins were issues since the 7th century BC. Silver was considered to be the basis of the Greek monetary system. After Romans imported Greek craftsmen they started minting their own silver coins. Roman coins, however, were highly influenced by Greece.

Among the first silver created for Rome was a series of didrachms. Due to the four horsed chariot image, the silver Roman coins were called quadrigatus. They were produced during the outburst of war with Pyrrhus. Quadrigatus were struck in Neapolis. They were most likely developed in order to suit the trading rules of the Greek colonies, found in southern Italy. Later quadrigatus were replaced by victoriatus, which represented a 3.4 grams coin, issued to celebrate the defeat of Carthage in the Punic Wars.