Byzantine coins

The coinage of the Byzantine Empire

After the fall of the Western Roman Empire, with the monetary reform of Anastasius in 498 AD. the phase of Byzantine coinage begins, the last development of the long Roman monetary tradition in the Eastern Empire. At this stage the system is based above all on the nummo for bronze coins and on the solidus for gold coins.

Byzantine coinage maintains a strong continuity with the late Roman one, but progressively introduces new iconographic characters and new organizational criteria for the monetary system. The images become more stylised, Christian references take on an increasingly important role and money continues to be an essential tool for the self-representation of imperial power.

The solidus, heir to the Constantinian reform, remains the center of the gold-based system and has been one of the reference points of Mediterranean monetary circulation for centuries. Alongside it, a bronze coinage developed based on the nummo and its multiples, among which the most widespread is the follis.

Over the centuries, Byzantine coinage saw reductions in weight, changes in fineness and the introduction of new coins, such as miliarense, siliqua, esagramma, tetarteron, histamenon, iperpero, basilikòn and assarion. These transformations reflect the political, military and economic changes of the empire.

Nummo

The nummo was a small bronze coin, so small in size that it was necessary to use multiples. It represents the basis of Byzantine bronze coinage, especially starting from the reform of Anastasius.

Follis

The follis, equal to 40 nummi, was the most common multiple in Byzantine bronze coinage. On the reverse it often showed the value according to the Greek numerical system, an element that makes these issues particularly recognisable.

solidus

The solidus remained the undisputed pillar of Byzantine gold coinage, minted in pure gold to preserve confidence in the state economy and in international Mediterranean trade.

Miliarense

The miliarense was a silver coin that reappeared in the Byzantine age as a prestige denomination, linked to the relationship with the solidus. Although less widespread than gold and bronze coins, it occupied an important position in the structure of the monetary system.

Siliqua

The siliqua continued to be used even in the Byzantine phase as a silver coin, albeit with a less central role than the solidus and bronze coinage. It is one of the issues that most clearly shows the continuity between the late empire and Byzantium.

Hyperpero

The hyperpero, introduced by Alexios I Komnenos, marks a new phase of medieval Byzantine coinage. This gold coin progressively replaced the old equilibrium of the system, accompanied by new fractions in electrum and billion.