Aureus

• The Aureus was a gold Roman Coin worth 25 Silver Denarii
• It was issued by the Mint of Ancient Rome between c.100 BCE and 312 CE.

Debasement of the Aureus Gold Content

• 8.18 grams: Julius Caesar
• 7.27 grams: Nero
• 6.55 grams: Caracalla
• 5.45 grams: Diocletian
• 4.55 grams: Constantine I replaced it with the Solidus

How Debasement led to Inflation

• The Roman Government insisted all Taxes be paid in Gold or Silver. Yet, they only issued coinage in base metals.
• As a consequence, Prices were increased to cover the shortfall and Inflation became a chronic problem.

Replacement

• After 301 CE, Diocletian started to replace the Aureus with the gold Solidus worth 1000 Denarii.
• After 312 CE, Constantine I permanently replaced the Aureus with the Solidus now worth 275,000 Denarii.