Carininus as Caesar 282-283 AD Ch Unc $177.
abt unc $87. EF $57. VF $37. F ................... $27.
Diocletian 284-295 AD Ch Unc $167. average
Unc $67. abt unc $47. EF+ $37. VF $17. F..
$8.
Maximianus 286-295 AD Choice Unc $167.
Average Unc $67. abt unc $47. EF+ $37. VF $17.
F ...................................................................
$8.
Constantius as Caesar 293-295 AD choice Unc
$277. average Unc $167. abt unc $77. EF $47.
VF $27. F ..................................................... $17.
Galerius as Caesar 293-295 AD Ch Unc $277.
average Unc $167. abt unc $77. EF $47. VF $27.
F ................................................................... $17.
Post Reform Folles Obv: laureate bust Rev: various
gods, goddesses, sometimes with emperor, or
temple.
Diocletian as Augustus 295-305 AD. Ch Unc $277.
Abt Unc $67. EF $47. VF $37. F .................. $27.
Diocletian struck after his abdication in 305 AD EF+
$127. VF $77. F+.......................................... $47.
Maximianus as Augustus 295-305 AD. Ch Unc
$277. Abt Unc $67. EF $47. VF $37. F ........ $27.
Maximianus after his abdication in 305 AD. EF+
$157. VF $87. F............................................ $47.
Galerius as Caesar 295-305 AD, Abt Unc $47. EF
$37. VF $27. F.............................................. $17.
Galerius as Augustus 305-311 AD Abt Unc $47. EF
$37. VF $27. F.............................................. $17.
Galeria Valeria daughter of Diocletian and second
wife of Galerius EF $97. VF $57. F .............. $37.
Constantius I as Caesar 295-305 AD Abt Unc $57.
EF $47. VF $37. F ........................................ $27.
Constantius I as Augustus 305-306 AD Abt Unc
$97. EF $67. VF $47. F ................................ $27.
Constantius Gold Aureus EF ....................... $4,700.
Constantine I the Great as Caesar 306-307 AD
EF+ $247. VF $77. F $37. VG ...................... $17.
Severus II as Caesar 305-306 AD. Abt Unc $197.
EF $97. VF $67. F $47. VG .......................... $37.
Severus II as Augustus 306-307 AD. Abt Unc $277.
EF $157. VF $117. F $67. VG ...................... $47.
Maximinus II as Caesar 305-308 AD. Abt Unc $137.
EF $57. VF $37. F ........................................ $27.
Maximinus II as Augustus 308-313 AD abt Unc
$47. EF $37. VF $27. F ................................ $17.
Maxentius as Augustus 306-312 AD abt unc $77.
EF$37. VF .................................................... $17.
Licinius as Augustus 308-324 AD ch abt unc $37.
EF+ $27. VF ................................................. $12.
Licinius I Aureus Unc................................... $5,700.
Constantine as Augustus 307-337 AD Ch abt unc
$47. EF+ $37. EF $27. VF $17. F $10. VG...
$4.
Constantine the Great Gold EF repaired .... $2,700
ROMAN TETRARCHY
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between 9 AM & 5 PM EST
(Visits by appointment)
Professional Numismatist · Bachelor of Arts in Numismatics
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email: JKernCoins@aol.com or jon@jkerncoins.com
JONATHAN K. KERN
ANA
Life Member
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appreciated.
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In 284 AD, an experienced soldier from the Danubian province, Diocles, was acclaimed as emperor by his legions under the
name Diocletian. This new strong emperor put an end to the 50 years of anarchy that had dominated since the murder of Severus
Alexander in 235 AD. Diocletian first had to contend with a rival for the throne: Carinus, emperor in the west since 283 AD.
Diocletian defeated Carinus in battle in 285 AD after which Carinus was assassinated by his own officers. Another challenge to the
new emperor was a peasant revolt in Gaul. To the West Diocletian sent Maximianus, who successfully quelled the rebellion. For his
services Diocletian made Maximianus co-emperor, in charge of the western provinces., while Diocletian ruled the east. Diocletian
had quickly realized that the empire was now too vast and unwieldy to be governed by one man, especially given the threat of a
revived Persian Empire under the new Sassanian leadership on the far eastern frontier and the ever-present danger from the
German tribes on the northern frontier.
In 293 AD, Diocletian expanded this new system by giving each emperor an assistant with the title of Caesar. Constantius I was
made Maximianus' colleague in the west, while Galerius was made Caesar for the East. To strengthen the bonds between these
four rulers, or "tetrarchs", Costantius divorced his first wife, Helena, an early Christian and mother of Constantine the Great.
Constantius then married Theodora, the step-daughter of Maximianus, and Galerius divorced his first wife to marry Galeria Valeria,
the daughter of Diocletian. This tetrarchy system of rule was soon tested with the rebellion of Domitius Domitianus in Alexandria,
Egypt in 296 AD. Diocletian besieged the city successfully and restored imperial rule.
Diocletian's reforms of the Roman Empire extended to the currency as well. In 296 AD, he introduced a new coin called the follis,
(plural: folles) which quickly became the standard of the Empire. The old noble silver denarius of Rome had become a small bronze
piece through decades of debasement and the political anarchy preceeding Diocletian. The new follis was apparently equal to 25 of
the bronze denarii in 285 AD, or about 1/5 of a good silver denarius from the time of Vespasian in 75 AD. The new follis had a silver
content of 1 part silver to 20 parts copper, and weighed a hefty 10 grams. The blanks planchets of this "billon" or low grade silver
alloy were soaked in salt water to leach out the copper on the surface and enhance the silver. When freshly struck these large folles
had a spectacular silver appearance which rapidly fades to a dark gray or even bronze look.
In cities all across the empire the mints issuing coins were reorganized and local denominations and designs were discarded.
Greek coin legends all became a uniform Latin. The folles, with relatively few variations in designs, became the standard coin of the
realm and created a uniformity in coinage that no previous emperor had ever achieved. Each of the mints now had clear mintmarks,
and officina (workshop) symbols, so a chain of responsibility could be clearly tracked. The folles struck in London, Egypt, Turkey,
Syria and Rome all turn up in hoards uncovered in northern Greece, demonstrating their wide circulation.
Diocletian was justifiably proud of his reforms but he still was faced with the persistent pressure of inflation. He issued an edict
attempting to set price and wage controls, but given human nature, bureaucratic budget juggling, and large mintages of "clad"
coins, any control of inflation was doomed to failure. The large body of recorded history concerning this edict helps to track
purchasing power. The maximum wage for a skilled laborer was 5 folles a day, while a shepherd could only earn 4. Slaves of course
were paid nothing but the going price of a human was anywhere between 1,000 to 10,000 folles depending on their health and
skills. A picture painter could charge 30 folles a day. A modius of wheat (18.5 quarts) was fixed at only 8 and 2/3 folles, but the
emperor routinely subsidized the price of grain to keep the poor populace from going hungry and revolting. A pound of pork was
pegged at 2 and 1/2 folles. A pound of wild pheasant was 25 folles. A peck of salt was 20 folles, and a pound of olive oil or honey
was 16 folles. A serving of table wine was about 1 and 2/3 folles. Cheap Egyptian beer was 2/5 follis a pint. The price of a pound of
silk brought from the Orient was frozen at 2,400 folles, and the royal purple silk at 30,000 folles a pound.
Diocletian ended his reign very atypically for a Roman emperor. In 305 AD he voluntarily abdicated, and compelled the
reluctant Maximianus to do the same. After Constantius I and Galerius became the two new Augusti, two new Caesars, both
nominees of Galerius, were appointed: Severus II and Maximinus II. The son of Maximianus, Maxentius and the son of Constantius
I, Constantine were both passed over for the rank of Caesar. Galerius then effectively controlled 3/4 of the empire. This "Second
Tetrarchy" soon showed its imbalance. Constantius I died in Britain in 306 AD, shortly after a border war with the Picts from
Scotland. Constantine I, on campaign with his father, was immediately proclaimed emperor by his father's legions.
In an attempt to placate Constantine, Galerius gave him the title of Caesar, whilst elevating Severus II to fill the vacant Augustus
position. However, Maxentius, the son of Maximianus, had himself proclaimed Augustus in Italy and he invited his father to become
a co-Augustus for a second reign. Galerius sent Severus II to supress the rebellion but Severus was captured and executed by the
rebels. Galerius prepared to lead the invasion of Italy himself, prompting Maximianus to seek and conclude an alliance with
Constantine. This new alliance gave Constantine I the title of Augustus, and his married Fausta, a daughter of Maximainus in
early 307 AD. Galerius invaded Italy but could not take Rome. Many of his troops deserted and he was force to retreat out of Italy
to Pannonia.
Pre-Reform Double Denarii: all have obverse radiate bust Reverses: various gods and goddesses
All Coins Offered Here Are Uncertified,
but of course unconditionally guaranteed
genuine by Jonathan K. Kern.
Please inquire for availability of certified
folles and Your Satisfaction Guaranteed
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