Elagabalus Silver Antoninianus RIC IV Elagabalus 72e

Monetary Context and the Severan Double Denarius

The monetary framework under which RIC IV Elagabalus 72e was struck reflects the escalating fiscal pressures of the early third century. Caracalla instituted the radiate silver denomination, conventionally called the antoninianus, in AD 215. Legally tariffed at two denarii, the coin was struck at a weight standard approximately one and a half times that of the contemporary denarius and possessed an intrinsic silver content of roughly forty-five to fifty percent. This disparity provided the imperial fiscus with a profitable overvaluation, effectively yielding an immediate seigniorage gain. Following Caracalla's assassination in AD 217, the brief reign of Macrinus saw an attempt to curtail production of the overvalued denomination in favor of traditional denarii. However, upon the elevation of the Syrian Severan faction backing Elagabalus in AD 218, the regime faced immense financial liabilities, including promised donatives to the Syrian legions and the Praetorian Guard. Resuming large-scale emissions of the antoninianus allowed the imperial administration to discharge these military bonuses efficiently while managing constrained silver reserves. RIC IV Elagabalus 72e exemplifies this renewed reliance on the radiate double denarius.

Production Standards and Mint Organization

The production of RIC IV Elagabalus 72e was carried out by the principal imperial mint situated at Rome. Operations at Rome during the early reign of Elagabalus were organized across several officinae, which shared obverse portrait styles while pairing them with distinct reverse themes designed to convey imperial legitimacy. Antoniniani of this period typically were struck on prepared blanks measuring roughly 21 to 24 millimeters in diameter, with mean weights centering near 5.0 grams, though fluctuating across a range from approximately 4.2 to 5.7 grams. Metallurgical analyses of Severan silver coinage indicate that the fineness of Elagabalus' antoniniani continued the debasement initiated under Caracalla, containing roughly 40 to 45 percent fine silver alloyed with copper. Dies were cut in high relief with clear, deeply incised letterforms and precise decorative rendering. Die alignment is predominantly regular, following the customary Roman upright or inverted die axes (around 12 or 6 o'clock).

Obverse Iconography and Portraiture

The obverse of RIC IV Elagabalus 72e features the radiate bust of Elagabalus turned to the right. In the typology of the Roman Imperial Coinage, the specific variety suffix 'e' designates a draped bust seen from behind or profile without cuirass, distinguishing it from related sub-types that depict cuirassed or draped-and-cuirassed forms. The radiate solar crown, an attribute historically linked to Sol and adopted as the universal numismatic mark of the double denomination in imperial base silver and orichalcum, encircles the youthful emperor's head. The portraiture is idealized yet recognizable, depicting short curls, smooth facial features, and the characteristic low forehead of the young emperor, who assumed the purple at roughly fourteen years of age. By presenting Elagabalus with the features and imperial styling reminiscent of Caracalla, the dies deliberately reinforced the public claim that the young ruler was the legitimate son and heir of the deceased Antonine monarch.

Reverse Iconography and Symbolism

The reverse iconography of RIC IV Elagabalus 72e is devoted to Fides, the personification of trust, fidelity, and adherence to oaths. She is shown draped in a stola, standing in a frontal posture with her head turned to the right. In her left hand she supports an upright legionary standard (signum), while her right hand holds a vexillum, the textile banner distinctive to detached military units, cavalry detachments, and specialized imperial guards. The combination of standard and banner directly recalls the tactical and political cohesion of the Roman army. In Roman state religion and military practice, the standards were regarded as sacred objects sanctified by religious rites; reverence paid to them was equivalent to swearing allegiance to the emperor himself. By depicting Fides attentively holding both markers of command, the composition visually articulates mutual trust between the youthful princeps and the military forces that secured his accession against Macrinus.

Epigraphy and Legend Analysis

The obverse legend reads IMP ANTONINVS AVG, moving clockwise from the lower left. The legend employs the standard abbreviation IMP for Imperator, the dynastic surname ANTONINVS, and the imperial title AVG for Augustus. The deliberate choice of ANTONINVS suppressed Elagabalus' birth name, Varius Avitus Bassianus, instead advertising the inherited prestige of the Antonine dynasty, which held vast appeal among the provincial legions and Praetorian cohorts. The reverse legend is inscribed FIDES MILITVM, translating directly as 'The Loyalty of the Soldiers'. Rendered in clean capital letters, this legend was among the most widespread slogans on imperial coinage during periods of political instability or dynastic transition. Unlike issues marked with tribunician or consular numbers, the epigraphic formula on RIC IV Elagabalus 72e remains concise and undated, emphasizing enduring ideological themes rather than a singular administrative anniversary.

Typology and Chronological Placement

Within the cataloguing structure of Roman Imperial Coinage Volume IV, type 72 represents the Rome mint antoninianus series bearing the FIDES MILITVM reverse paired with the simple IMP ANTONINVS AVG obverse legend. The series is divided into distinct bust varieties designated by lowercase letters; variety 72e is defined by its radiate and draped bust right. Although the overarching catalogue classification spans the emperor's reign from AD 218 to 222, modern numismatic scholarship places the production of this specific series in the early window of the reign, primarily across AD 218 and 219. By late AD 219 or early 220, the imperial mint at Rome largely discontinued emissions of the antoninianus denomination. Over the remaining years of Elagabalus' rule, Rome focused its precious metal output almost exclusively on the single denarius and occasional gold aurei. The antoninianus would not re-emerge as a regular denomination at Rome until the brief reign of Balbinus and Pupienus in AD 238.

Circulation, Hoards, and Archaeological Context

Coins of type RIC IV Elagabalus 72e circulated across both western and eastern provinces of the Roman Empire, although their practical lifetime in open commerce was shaped by ongoing currency manipulation. In general circulation, Severan antoniniani circulated alongside earlier Caracallan radiates and older denarii. However, because the public recognized the intrinsic tariffing discrepancy between the antoninianus and the denarius, radiates were frequently hoarded or preferred for major official payments. When severe inflation and debasement intensified under the joint reign of Valerian and Gallienus during the AD 250s and 260s, earlier Severan antoniniani of relatively high purity (above forty percent silver) were systematically culled from circulation through Gresham's Law. Many were melted down to provide bullion for vastly more debased radiates. Consequently, surviving examples of RIC IV Elagabalus 72e are frequently documented in third-century hoard contexts across Britain, Gaul, the Rhine frontier, and the Danubian provinces, preserved where they had been deposited prior to the complete collapse of the Severan silver standard.

References

1. The Metallurgy of Roman Silver Coinage: From the Reform of Nero to the Reform of Trajan. pp. 593-605
2. Coinage in the Roman Economy, 300 B.C. to A.D. 700. pp. 125-132
3. Coining Images of Power: Patterns in the Representation of Roman Emperors on Coinage, A.D. 193-284. pp. 227-249
4. Online Coins of the Roman Empire: RIC IV Elagabalus 72e. ric.4.el.72e
5. The Roman Imperial Coinage, Volume IV, Part II: Macrinus to Pupienus. pp. 34-35, no. 72e