Argenteus

The argenteus was a silver coin produced by the Roman Empire from the time of Diocletian 's coinage reform in AD 294 to c. AD 310. It was of similar weight and fineness as the denarius of the time of Nero. The coin was produced at a theoretical weight of 1/96th of a Roman pound (about 3 grams), as indicated by the Roman numeral XCVI on the reverse of some examples. Argenteus, meaning "of silver" in Latin, was first used in Pliny 's Natural History in the phrase "argenteus nummus" (silver coin). The 4th-century historian Ammianus uses the same phrase, however there is no indication that this is the official name for a denomination. The Historia Augusta uses the phrase to refer to several fictitious coins.

Moneta Historical Research by Thomas Schroer

"Argenteus" (plural: argentei) is the modern name of the 95% fine silver coins of about 3.15 grams which the Tetrarchy issued beginning with Diocletian's coinage reform in 294.  These coins ("argentei" in the plural) were supposed to have been struck at 96 to the Roman "libra" or pound, a fact put beyond doubt by the inscription "XCVI" as the main reverse design on some and appearing in the exergue of others. This would have given them a theoretical weight of 3.40 grams, but the Roman government typically over-valued their silver coinage by 5-10%, which meant the actual weight was about 3.15 grams.

This weight slowly decreased until by the time of Constantine I the argentei averaged about 3.03 grams. Production of argentei declined greatly from about 312 to 324, when it resumed after the end of the Second Civil War. The term "siliqua" was applied to these coins as early as 323, but that term was actually a Roman unit of weight which implied a weight of 1/144 of a libra, or about 2.26 grams. The contradiction of terms continued until about 355 when Constantius II greatly reduced the weight of the siliquae to about 2.0 grams, which was a reasonable match between the name and the weight after factoring in the imperial practice of over-valuing the silver. The name argenteus ceased to be applied to the so-called "reduced" siliquae.

Moreover the term siliqua is increasingly applied to the early argentei since it is of ancient usage and argenteus (which means "silvery" in Latin) has been applied only in modern times. In any event the term argenteus is still sometimes applied to any silver coin of the fourth or fifth century which weighs approximately 3.1 grams, although the name "1½ siliqua" is also applied to those same coins, since they actually were 1.5 times the weight of the normal siliqua of the time.

The Tetrarchic silver coins were the first official silver coins struck in any quantity since the demise of the denarius in the mid-third century and the almost total debasement of the antoninianus slightly before 260. The British usurper Carausius struck coins in 90% fine silver between 287 and 293, being the first to revive silver coins in any form since the mid-third century.  His coins are normally called denarii, since they were struck at the Neronian pre-reform (54-64) denarius weight standard of about 3.6 grams.  His successor Allectus did not continue the coinage in silver and it was left for Diocletian to resume it about 294 with the introduction of the argenteus.

DICTIONARY OF ROMAN COINS

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ARGENTEUS, or the silver piece, is the name given to the large denarius of Caracalla and his successors, by the writers of the Augustan History, and in rescripts of the period. It was also called Argenteus Philippus, or the Silver Philip, the word Philip having, during the lower age of the imperial government, become a familiar appellation for any coin. The common denarii now first begin, adds Pinkerton, to be termed minuti, and argentei philippi minuti, to express their being smaller than the other. The first argenteus is worth one shilling sterling. -- See Essay, vol. i. 167.

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