The Classical Economies Collection

THE "GOOD" EMPERORS

TRAJAN
AD 98-117

AR Denarius (3.47 g, 19mm, 6).

      Mint: Rome.
      Struck: AD 117.
      Obv: IMP CAES NER TRAIAN OPTIM AVG GERM DAC
                Laureate and draped bust right.
      Rev: PARTHICO P M TR P COS VI P P S P Q R
                FORT RED in exergue
                Fortuna seated left, holding cornucopia and
                rudder set on globe.
      Mm: None.
      Ref: RIC 315; BMCRE 634; Hunter 206; RSC 150a.

Notes: This coin is from the final issue of Trajan's reign, evidenced by the addition of PARTHICUS to his titles, here on the reverse. At the time, Trajan had capped the final great campaign of his reign, against the Parthians. The campaign was precipitated by the Parthians, who overthrew the Roman-backed king of Armenia and replaced him with their own candidate. This act upset the balance of power created by a peace settlement between the two powers during Nero's reign, and placed Parthian troops on the doorstep of Rome's wealthy Syrian possessions. Trajan's reply was swift; within a year not only had Rome's Armenian client king been reinstated, but in a blinding push southward Mesopotamia was taken from the Parthians and the western Parthian capital of Ctesiphon was captured. Trajan placed a puppet Parthian king, Parthamaspates, on the throne as a rival to the legitimate king Osroes I and began to solidify Rome's conquests. Before long, though, the Roman's supply chain was threatened by uprisings to the west, particularly in Judaea. As a result, Trajan ended the Parthian campaign and began marching west, conducting an unsuccessful seige of Hatra along the way. The reverse type on this coin is a standard representation of Fortuna Redux, and was typically employed on coinage when the emperor was away from Rome. More specifically, the type was used when the emperor was enroute home, and is a plea to fortuna to see to the emperor's safe return. Unfortunately, the elderly Trajan, then in his sixties, was taken ill and died in Selinus in Roman Cilicia.

HADRIAN
AD 117-138

AR Denarius (3.34 g, 19mm, 7).

      Mint: Rome.
      Struck: AD 117.
      Obv: IMP CAES TRAIAN HADRIAN OPT AVG GER DAC
                Laureate, draped, and cuirassed bust right.
      Rev: PARTH[IC DIVI] TRAIAN AVG F P M TR P COS P P
                Trajan, standing right, handing globe to Hadrian,
                standing left.
      Mm: None.
      Ref: RIC 2c; BMCRE 2; Hunter -; RSC 1009c.

Notes: This reverse type from the initial issue of Hadrian's reign depicts his adoption by Trajan. Mattingly (in RIC and BMCRE) thought this type was possibly issued to stave-off rumors circulating at Rome that the adoption by Trajan on his deathbed at Selinus in Cilicia was a fraud. The fact that Trajan made no move to name a successor before virtually standing at Death's door precipitated the controversy. Nevertheless, while this coin's issue would do little to end any suspicions among the upper echelons of Roman power, it would go much further among the masses, who would be looking for an assertion of stability in the transition.

A similar type also exists that differs in that the emperors clasp hands and the exergue contains the word ADOPTIO. As that type is obviously part of a larger issue with similar obverse types and reverses which continues into succeeding issues, it is believed that the present type was an earlier issue. That earlier ('accession') issue is entirely comprised of this particular type, and was issued in aurei, denarii, and sestertii.

ANTONINUS PIUS
AD 138-161

AR Denarius (3.38 g, 17mm, 6).

      Mint: Rome.
      Struck: Dec. AD 160 - 7 Mar. AD 161.
      Obv: ANTONINVS AVG PIVS P P TR P XXIIII
                Laureate head right.
      Rev: LIBERALITAS AVG VIIII COS IIII
                Liberalitas standing right, emptying coins out of
                cornucopia held in both hands.
      Mm: None.
      Ref: RIC 311a; BMCRE 1010; Hunter 132; RSC 530.

Notes: This donative marked the sharing of the consulate by Marcus Aurelius & Lucius Verus. It was the final event marked on his coinage. Very rare issue; only 3 examples in the Reka Devnia hoard.

MARCUS AURELIUS
AD 161-180

AR Denarius (3.74 g, 17mm, 11).

      Mint: Rome.
      Struck: January - March AD 180.
      Obv: M AVREL ANT-ONINVS AVG
                Laureate and cuirassed bust right.
      Rev: TR P XXXIIII IMP X COS III P P
                Fortuna seated left, holding rudder and cornucopia;
                wheel below chair.
      Mm: None.
      Ref: RIC 409; MIR 461-4/35; BMCRE 805 note; Hunter 75;
                RSC 972.

Notes: The obverse appears to have slight drapery on the far shoulder, but there are no published types like this and it is uncertain if this possible drapery appears on all coins of this type labeled as 'cuirassed' only. Szaivert list this as one of the two types of denarii minted in the final (39th) emission of coinage under Aurelius. The reverse type of Fortuna was struck in the hopes of Aurelius's safe return to Rome from the Rhine frontier, where he had defeated the Quadi and Marcomanni the previous spring. Such was in vain, as he succumbed to illness on March 7 in his camp at Vindobona, where he was attempting to secure a final settlement with the German tribes.

LUCIUS VERUS
AD 161-169

AR Denarius (2.97 g, 18mm, 12).

      Mint: Rome.
      Struck: December AD 168 - January AD 169.
      Obv: L VERVS AVG AR-M PARTH MAX
                Laureate head right.
      Rev: FORT RED TR P VIIII IMP V, COS III in exergue
                Fortuna seated left, holding rudder and cornucopia.
      Mm: None.
      Ref: Cf. RIC 596 (aureus; Aurelius); MIR 177-14/30; BMCRE
                498 (Aurelius); RSC 111a.

Notes: This coin is from the final issue of Verus, which lasted approximately one month. The issue comprised four types, Aequitas (struck in silver and bronze), Annona (bronze), Fortuna Redux (gold and silver), and Virtus (bronze). This particular type, Fortuna Redux, was typically employed when an emperor was returning to Rome from some distant location, and it was a plea to Fortuna asking for his safe return. Verus had been in the east fighting against the Parthians and Armenians, while Marcus Aurelius was campaigning along the Rhine. Both met in Aquileia on their return to Rome, but Verus subsequently contracted the plague and died during the final journey home. Only one other denarius of this type is recorded, the BM specimen, and none were present in any of the inventoried hoards (including Réka-Devnia).

COMMODUS
AD 177-192

AR Denarius (3.21 g, 18mm, 12).

      Mint: Rome.
      Struck: AD 177.
      Obv: IMP L AVREL COMMOD-VS AVG GERM SARM
                Laureate and draped bust right.
      Rev: TR P II C-OS P P
                Jupiter seated left, holding Victory and scepter.
      Mm: None.
      Ref: RIC 636 (Marcus); MIR 392-14/33; BMCRE 753 corr.
                (Marcus; no cuirass); Hunter -; RSC 744 corr. (same).

Notes: This coin is from the first issue of Commodus' coinage as Augustus. The use of Jupiter Victor, also appearing on the coins of his father, is likely a reference to the emperors' ongoing campaigns against the Marcomanni, Quadi, and Sarmatae.