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CONSTANTINE I 'THE GREAT' (307/10-337). GOLD Solidus. Constantinople.

Obv: CONSTANTINVS MAX AVG.
Rosette-diademed, draped and cuirassed bust right.
Rev: VICTORIA CONSTANTINI AVG / CONS.
Victory advancing left, holding trophy and palm.

RIC 114.

Extremely rare

It was Constantine I who introduced this new gold coin, the solidus. In the years between 309 and 311 AD, after reducing the weight of the nummus and eliminating the production of the lower denominations, the emperor implanted the entire system on this new real-value gold denomination, which remained from then on the only stable element in imperial coinage, cut at 1/72 of a pound (c. 4.5g), while the silver and copper coinage was continually modified, in an attempt to maintain the precise value ratios with the more precious metal. Together with the solidus, gold fractions and two new silver denominations were coined, miliarense and siliqua, while the emission of silvered bronze coinage, the centenionalis, remained, replacing the old nummus. The substantial difference with respect to Diocletian's reform, which was also based on gold, is that with Constantine the desire to forcibly link the value of precious metal denominations to those of base metal was removed, assigning the latter to a completely marginal role in circulation. Initially the rules introduced applied only in the regions directly controlled by Constantine, but with the defeat of Licinius in 324, the solidus spread throughout the empire

Condition: Extremely fine; restored bend.

Weight: 4.66 g.
Diameter: 21 mm.