The Roman Monetary System: The Eastern Provinces from the First to the Third Century AD PDF
Preview The Roman Monetary System: The Eastern Provinces from the First to the Third Century AD
THE ROMAN MONETARY SYSTEM The Roman monetary system was highly complex. It involved offi- cialRomancoinsinbothsilverandbronze–whichsomeprovinces producedwhileothersimportedthemfrommintsinRomeandelse- where – as well as, in the east, a range of civic coinages. This is a comprehensive study of the workings of the system in the Eastern provincesfromtheAugustanperiodtothethirdcenturyAD,when the Roman empire suffered a monetary and economic crisis. The Eastern provinces exemplify the full complexity of the system, but comparisonsaremadewithevidencefromtheWesternprovincesas wellaswithappropriatecasestudiesfromotherhistoricaltimesand places.ThebookwillbeessentialforallRomanhistoriansandnumis- matistsandofinteresttoabroaderrangeofhistoriansofeconomics andfinance. constantina katsari isLecturerinAncientHistoryattheUni- versityofLeicesterandaFellowoftheRoyalNumismaticSociety.Her publications include numerous articles and reviews on the Roman economy,comparativeslaveryandancientidentities,aswellasthree co-editedbooks:PatternsintheEconomyofRomanAsiaMinor(2005; co-editedwithStephenMitchell);SlaveSystems:AncientandModern (2008;co-editedwithEnricoDalLago);andFromCaptivitytoFree- dom: Themes in Ancient and Modern Slavery (2008; co-edited with EnricoDalLago). THE ROMAN MONETARY SYSTEM The Eastern Provinces from the First to the Third Century AD CONSTANTINA KATSARI cambridge university press Cambridge,NewYork,Melbourne,Madrid,CapeTown,Singapore, Sa˜oPaulo,Delhi,Dubai,Tokyo,MexicoCity CambridgeUniversityPress TheEdinburghBuilding,Cambridgecb28ru,UK PublishedintheUnitedStatesofAmericabyCambridgeUniversityPress,NewYork www.cambridge.org Informationonthistitle:www.cambridge.org/9780521769464 (cid:2)c ConstantinaKatsari2011 Thispublicationisincopyright.Subjecttostatutoryexception andtotheprovisionsofrelevantcollectivelicensingagreements, noreproductionofanypartmaytakeplacewithoutthewritten permissionofCambridgeUniversityPress. Firstpublished2011 PrintedintheUnitedKingdomattheUniversityPress,Cambridge AcataloguerecordforthispublicationisavailablefromtheBritishLibrary LibraryofCongressCataloguinginPublicationdata Katsari,Constantina. TheRomanmonetarysystem:theEasternprovincesfromthefirsttothethird centuryAD/ConstantinaKatsari. p. cm. Includesbibliographicalreferencesandindex. isbn978-0-521-76946-4 1.Money–Rome–History. I.Title. hg237.k38 2011 332.4(cid:3)9394–dc22 2010043682 isbn978-0-521-76946-4Hardback CambridgeUniversityPresshasnoresponsibilityforthepersistenceor accuracyofURLsforexternalorthird-partyinternetwebsitesreferredto inthispublication,anddoesnotguaranteethatanycontentonsuchwebsitesis, orwillremain,accurateorappropriate. Contents Listofcharts pagevi Acknowledgements viii Listofabbreviations x FramingtheRomanmonetarysystem:Anintroduction 1 1 Statisticsandnumismatics 9 2 PlanningthefinancialpolicyoftheRomanstate 34 3 Trimetallismandbimetalliclaws 72 4 TheapplicationoftheQuantityTheoryofMoneyto third-centuryeconomics 104 5 Romanmonetaryintegration 167 6 Micro-economies 209 7 Metallismvs.chartalism 244 Appendix1:TheinscriptionofMylasa 254 Appendix2:Excavationfinds,coinhoardsandmuseums 256 References 265 Index 297 v List of charts 1 ExcavationsinGreeceandAsiaMinor:silvercoins, %perannum page44,105 2 ExcavationsinDacia:silvercoins,%perannum 44,106,194 3 ExcavationsinPannoniaSuperior:silvercoins, %perannum 45,106,195 4 ExcavationsinPannoniaInferior:silvercoins, %perannum 46,107,195 5 ExcavationsinMoesiaInferior:silvercoins, %perannum 46,107 6 ExcavationsinSyria:silvercoins,%perannum 47,108 7 Numberofsilvercoinhoardsineasternprovinces 110 8 Bronzecoinhoardsineasternprovinces 110 9 MintofDion:bronzecoins,%perannum 113 10 MintofSmyrna:bronzecoins,%perannum 114 11 Mylasamint:bronzecoins,%perannum 114 12 AsiaMinorexcavations:bronzecoins,%perannum 115 13 Syrianexcavations:bronzecoins,%perannum 116 14 DuraEuroposexcavations:bronzecoins,%perannum 117 15 Greekexcavations:bronzecoins,%perannum 118 16 Athensexcavations:bronzecoins,%perannum 119 17 Cyprusexcavations:bronzecoins,%perannum 119 18 MoesiaInferiorexcavations:bronzecoins,%perannum 120 19 Daciaexcavations:bronzecoins,%perannum 121 20 PannoniaSuperiorexcavations(over100coins):bronze coins,%perannum 122 21 PannoniaSuperiorexcavations(fewerthan100coins each):bronzecoins,%perannum 122 22 PannoniaInferiorexcavations:bronzecoins, %perannum 123 vi Listofcharts vii 23 Hayderehoard:comparisonofdenarii,antoniniani andbronzes 129 24 Pergamoshoard:comparisonofdenarii,antoniniani andbronzes 130 25 Ephesusexcavations:silverandbronzecoins, %perannum 145 26 Patraexcavations:silverandbronzecoins,%perannum 146 27 Corinthexcavations:silverandbronzecoins, %perannum 146 28 Pergamosexcavations:comparisonofdenarii, antoninianiandbronzesperannum 155 29 Sardisexcavations:comparisonofdenarii,antoniniani andbronzesperannum 156 30 Ephesusexcavations:comparisonofdenarii,antoniniani andbronzesperannum 156 31 Patraexcavations:comparisonofdenarii,antoniniani andbronzesperannum 157 32 Athensexcavations:comparisonofdenarii,antoniniani andbronzesperannum 158 33 Corinthexcavations:comparisonofdenarii,antoniniani andbronzesperannum 158 34 Antiochexcavations:comparisonofdenarii,antoniniani andbronzesperannum 159 35 DuraEuroposexcavations:comparisonofdenarii, antoninianiandbronzesperannum 159 36 Iafahoard:comparisonofdenarii,antoninianiand bronzesperannum 160 37 Lesboshoard:comparisonofdenarii,antoninianiand bronzesperannum 160 38 Daciaexcavations:comparisonofantoniniani,denarii andbronzesperannum 162 39 PannoniaInferiorexcavations:comparisonof antoniniani,denariiandbronzesperannum 162 40 PannoniaSuperiorexcavations:comparisonof antoniniani,denariiandbronzesperannum 163 41 MoesiaInferiorexcavations:comparisonofantoniniani, denariiandbronzesperannum 164 42 SilvercoinsfromexcavationsinPatra,Corinth,Ephesus andAthens,andfromthemuseuminRhodes 193 43 DuraEuropos:bronzecoins,%perannum 217 Acknowledgements Over the years I have had inspiration and help from many people within andoutsideacademiccircles.SomeofthemIstillremembervividlywhile others faded with the passing of time. Among the ones that I would like to thank are the following. First and foremost, Kostas Buraselis who has remained a constant influence in my life as teacher, mentor, friend and guide. He is responsible for introducing me to the realm of history and supportingmeinallendeavoursforthepasttwentyyears.Fromearlyonhe instilledinmethepassionwenowsharefortheancientworldandheguided meunfailinglythroughtheintricaciesofthemodernacademicworld.This book would never have been started, if I had never met him. Stephen Mitchellistheotherforcethatsupportedme,sinceIfirstmethimin1999. WhenIwasdesperatethatmycareerhadfinishedbeforeitevenstarted,he wastheretoencouragemeandtoundertakethedifficultroleofapostdoc supervisor.InthiscapacityhereadmyPhDmanuscript,commentedonit andtaughtmeeverythingIneededtoknowontheeconomyofRomanAsia Minor.MyPhDsupervisor,MichaelCrawford,shouldalsobementioned as the person who has been patient enough to undertake the task of teachingmetheworkingoftheancienteconomy.Eventhoughourviews differsubstantially,IcannotdenythatIwasintriguedbythedepthofhis knowledgeandthesharpnessofhisintellect.AndrewBurnett,mysecond supervisor, has also been exceedingly helpful in the completion of this book. I owe him many helpful comments on several drafts of the PhD manuscriptandthefacilitationoftheuseofthelibraryandcollectionsof theBritishMuseum.Indirectly,hetrainedmeinnumismaticsandhegave me an insight on the complicated methodology I was expected to follow. However, I owe the roots of my numismatic knowledge to Aikaterini Liampi. I attended her seminars in the National Foundation of Research inAthensforthebestpartofthreeyears,whileIwasstillanundergraduate student.DuringthistimeIwaspreparedforthedifficulttaskthatlayahead. Ian Carradice and Richard Alston were the readers of my thesis. Their viii Acknowledgements ix commentshelpedmetodrawanewstrategyandturntowardsadifferent direction. While I was completing my postdoc in Exeter I relied heavily on the advice of seasoned historians, such as Richard Seaford and David Braund. Both of them commented on my work and taught me how to combinetheresultsofdifferentdisciplines.Ialsoprofitedgreatlyfromthe academicenvironmentofLeicesterUniversity.MycolleaguesattheSchool ofArchaeologyandAncientHistoryhavesupportedmeoverthepastfive years not only with their helpful comments but also with their infinite patience and indulgence. Among them I would like to especially thank NeilChristie,GrahamShipley,DavidMattingly,ColinHaselgroveandLin Foxhall. Apart from the anonymous readers from Cambridge University Presswhoreadtheinitialmanuscript,ImustpaymyduestoKevinButcher. He read the book in detail and commented on the ideas and the source material.Ireliedheavilyonhisadvice,althoughIhavenotalwaysfollowed it,forwhichIhopehewillforgiveme.Otherresearcherswhoseworkhas influenced me over the years are Walter Scheidel, William Harris, Jean Andreau,DavidHollander,WimJongman,PeterTemin,KurodaAkinobu andPeterBan.Thedebatehasbeenintenseandthedisagreementsmany. Therefore,theresultsIhopewillbeequallyinteresting. SinceIstartedmyPhDthesisIhavereceivedseveralgrantsfromanum- ber of research organisations in different countries. I would like to thank theGreekStateFoundationofScholarshipsforprovidingadequatefund- ingforthreeandahalfyearsthatenabledmetofinishmythesis.Later,the Foundation of the Hellenic World at Athens provided the funds to com- pletemyfirsttwo-yearpostdocinExeterontheeconomyofRomanAsia Minor.Inaddition,theHumboldtFellowshipforExperiencedResearchers allowedmetoworkintheDAIinBerlinandAthensforayearandahalf. At the same time, I used a six-month Research Leave from the Univer- sity of Leicester. Lesser grants were the Centenary Bursary for Research fromtheBritishSchoolatAthens,theMartinPriceFundfromtheRoyal NumismaticSocietyandagrantfromtheUKNumismaticTrust.
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