- The Argentarii were the Roman Bankers who were based in the Forum Romanum in Rome.
- In 203 CE, they built an arch to honour Septimius Severus, known as the Arcus Argentariorum or Arch of the Bankers.
Description
- The Argentarii were the Bankers of Rome. Although they were free agents and not employees of the State, they did belong to a Guild of Bankers who restricted their numbers.
- They conducted financial transactions such as Currency Exchange (Permutatio).
- They were legally required to buy new coinage from the Mint and to circulate it. They could assess the value of new and old coins and tell whether one was a forgery.
- They used Bills of Exchange where an associated banker in a Province would pay out the sum that had been paid in to him.
- They took in deposits and made payments on behalf of their clients.
- They operated a system of payment by cheque known as ‘Presciptio’.
- All transactions were recorded in books called ‘Codices’ and could be used as evidence in a court of law.
- They operated at Public Auctions, acting as agents for both the sellers and the buyers and receiving payments and making them.
Arch of the Bankers