Crawford 095/1b, ROMAN REPUBLIC, VB Series Victoriatus

Rome. The Republic.
VB Series, 211-208 BCE
AR Victoriatus (3.35g; 18mm).
Uncertain mint.

Obverse: Laureate “small” head of Jupiter facing right.

Reverse: Victory crowns trophy; VB ligate in field; ROMA in exergue.

References: Crawford 95/1b; RBW 390; Sydenham 113; BMCRR (Italy) 235; RSC 36m.

Provenance: Ex NAC 84 (20 May 2015), Lot 773; privately purchased from Or Gestion Numismatique (Paris) in 2009.

About 212 BCE, when the Romans introduced the denarius system, they also introduced a collateral denomination of silver coin, the victoriatus. As evidenced by its different weight standard, debased metal, iconography and missing denominational mark, the victoriatus was not integral to the denarius system but was produced for a special purpose. While the denarius and its fractions, the quinarius and sestertius, all depicted Roma and the Dioscuri, victoriati depicted Jupiter and Victory crowning a trophy. Further, while denarii were produced from nearly pure silver, victoriati were made from debased silver of about 70% purity. Based on the weight standard of Magna Graecia drachms, victoriati were likely designed specifically for payments to Greek cities of southern Italy and hoard evidence supports circulation largely in southern Italy.

The VB Victoriati were issued in two, distinct obverse styles: one with a large head of Jupiter in high relief and nearly filling the obverse field; the second with a smaller head. This coin is the small-head variety.

Rome ceased issuing victoriati circa 170 BCE. Perhaps because of their debased metal (which discouraged hoarding), victoriati continued to circulate in Gaul for many years until they functioned as de facto quinarii due to metal loss from wear. Their continued popularity caused Rome to later issue quinarii bearing the same devices (Jupiter/Victory and trophy).