Date Weight Purity Weight

• 64-68 3.18 grs. 93.5% 2.97 grs.
• 70-81 3.22 grs. 90.0% 2.87 grs.
• 82-85 3.33 grs. 98.0% 3.26 grs.
• 85-107 3.27 grs. 93.5% 3.04 grs.
• 107-148 3.21 grs. 89.0% 2.88 grs.
• 148-161 3.23 grs. 83.5% 2.68 grs.
• 161-168 3.23 grs. 79.0% 2.57 grs.
• 168-170 3.24 grs. 82.0% 2.67 grs.
• 170-180 3.26 grs. 79.0% 2.57 grs.
• 180-185 3.07 grs. 76.0% 2.34 grs.
• 186-192 2.98 grs. 74.0% 2.22 grs.

ROMAN CURRENCY IN THE ERA OF INFLATION, 193-293

Severan emperors (193-235) steadily debased the denarius from a standard of 78.5% to 50% fine; in 212 Caracalla reduced the weight of the aureus from 45 to 50 to the Roman pound. They also coined aes from a bronze alloy with a heavy lead admixture and discontinued fractional denominations below the as.

DEBASEMENT OF THE DENARIUS, 193-241
Date Weight Purity Silver Weight

• Pertinax 193 3.16 grs. 87.0% 2.75 grs.
• Didius Julianus, 193 2.95 grs. 81.5% 2.40 grs.
• Septimius Severus, 193-194 3.14 grs. 78.5% 2.46 grs.
• Septimius Severus, 194-196 3.07 grs. 64.5% 1.98 grs.
• Septimius Severus, 196-211 3.22 grs. 56.5% 1.81 grs.
• Caracalla, 212-217 3.23 grs. 51.5% 1.66 grs.
• Macrinus, 217-218 3.15 grs. 58.0% 1.82 grs.
• Elagabalus, 219-222 3.05 grs. 46.5% 1.41 grs.
• Severus Alexander, 222-228 3.00 grs. 43.0% 1.30 grs.
• Severus Alexander, 229-230 3.24 grs. 45.0% 1.46 grs.
• Severus Alexander, 230-235 2.94 grs. 50.5% 1.50 grs.
• Maximinus, 235-238 3.07 grs. 46.0% 1.43 grs.
• Gordian I & II, 238 2.77 grs. 63.0% 1.71 grs.
• Pupienus & Balbinus, 238 2.80 grs. 55.0% 1.55 grs.
• Gordian III, 241 3.03 grs. 48.0% 1.46 grs.

In 215 Caracalla introduced the antoninianus (5.1 grs.; 52% fine) a double denarius, containing 80% of the silver of two denarii. The coin invariably carried the radiate imperial portrait. Elagabalus demonetized the coin in 219, but the senatorial emperors Pupienus and Balbinus in 238 revived the antoninianus as the principal silver denomination which successive emperors reduced to a miserable billon coin (2.60 grs.; 2% fine).

DEBASEMENT OF ANTONINIANUS, 238-274
Date Weight Purity Silver Weight

• Pupienus & Balbinus, 238 4.79 grs. 49.5% 2.38 grs.
• Gordian III, 238 4.50 grs. 48.5% 2.20 grs.
• Gordian III, 241 4.43 grs. 44.5% 1.98 grs.
• Gordian III, 243 4.16 grs. 41.5% 1.62 grs.
• Philip, 244 4.12 grs. 43.0% 1.74 grs.
• Philip, 248 4.12 grs. 47.0% 1.94 grs.
• Trajan Decius, 250 3.97 grs. 41.0% 1.64 grs.
• Trebonianus Gallus, 251 3.46 grs. 36.0% 1.26 grs.
• Aemilian, 253 3.53 grs. 35.5% 1.26 grs.
• Valerian, 253 3.10 grs. 22.0% 0.68 grs.
• Valerian, 255-60 3.07 grs. 19.0% 0.58 grs.
• Gallienus, 260 3.03 grs. 18.0% 0.54 grs.
• Gallienus, 261-63 2.97 grs. 15.5% 0.46 grs.
• Gallienus, 263-65 2.75 grs. 13.0% 0.38 grs
• Gallienus, 265-66 2.81 grs. 9.0% 0.31 grs.
• Gallienus, 267-68 2.69 grs. 6.0% 0.16 grs.
• Claudius II, 268 2.95 grs. 3.0% 0.09 grs.
• Claudius II, 269 2.60 grs. 2.0% 0.05 grs.
• Claudius II, 270 3.39 grs. 3.0% 0.10 grs.
• Aurelian, 270 3.15 grs. 2.5% 0.08 grs.
• Aurelian, 274 3.88 grs. 5.0% 0.20 grs.