Coin Hoard found at Vindolanda

[Melvadius]

Past Horizons is carrying the report of the discovery of 21 silver denarii here. Lucky archaeologists - if only we all were

 

A hoard of twenty one silver denarii has been recovered during the recent excavation of the foundations of a clay floor in a centurion

[guy]

This link was also introduced on cointalk.com (by Matt), creating an interesting discussion there. As a non-coin collector, I found the discussion fascinating.

 

http://www.cointalk.com/t186371/

 

Among the coins of the hoard, one can see a coin of Hadrian (117-138), two of Nerva (96-97), four of Marcus Aurelius (161-180), two of Antonius Pius (138-161), and one of Vespasian (69-79). In the top row is a (Diva) Faustina I, wife of Antonius Pius (died 141).

 

 

It is interesting that the article states they were found under the floor of an apartment dated AD 180-200.

 

If this is correct, some of the coins could have been in circulation for more than 100 years. (Vespasian ruled AD 69-79.)

 

This is consistent with the thought that many silver coins frequently circulated many decades before they were hoarded and removed from circulation during the later silver debasement.**

 

 

I assume that by AD 200 the debasement of the coinage was noticeable. The more recent and debased coinage would have been used for daily spending first since they were officially the same value as the more intrinsically valuable purer older silver coinage. (See Gresham's law.) The older, more valuable coinage would have been "hoarded.

Edited July 25, 2011 by guy

[Northern Neil]

'I remain troubled by two nice Nerva's but perhaps that ruler was special to the soldier. We can never know such things for certain.'

 

This view in turn puzzles me - if this is thought to be an ancient coin collection, I would have thought that the presence of two coins from the reign of Nerva would be very strong evidence to support the hypothesis! Much the same as if someone now keeps a Victorian silver halfcrown, or a Morgan silver dollar.