It would not be wrong to say that the Romans laid down the basis of gold coins in the west, as it was consumed in their era for making coins more than it was used for making jewellery; they were greatly skilled in making these coins. A lot many gold coins have been found throughout the Europe when the archaeologists dug them up.
The reality that gold was plentiful sufficient to be used in coins explains the strength, and power of the Roman Empire. Copper, and silver coins were not that commonly used they were only used for purchases in small amounts. Although gold coins were in use in the western Turkey, and Greece during the reign of Alexander the Great as well, but that was only in emergencies. When the Emperor Augustus died, gold coins were encrusted with his head, became common in use.
These gold coins were used to pay the wages of the soldiers. The evidence also suggests that the rich people also used these coins. Apart from being used in jewellery, the gold was used for the first time as a piece of money instead of just being a decoration or a base of social symbol.
When the Roman Empire grew, they possessed more of the gold reserves in the surrounding areas. The conquest of Egypt brought the gold from Africa in their possession. Spain was producing a lot of gold, also Romania was conquered for acquiring gold production, and so was the reason for the conquest of Britain. Gold was not in much quantity in Britain apart from some areas such as Dolaucothi and Carmarthenshire, but it was known to be rich in metal.
The gold supplies fell considerably when the Roman Empire was at its downfall. The size of the coin was reduced than the original size, and the original gold coins were used occasionally. The economy became a focus of attention than decorating churches, and buildings. Inflation was increasing considerably.
The incoming of gold also reduced with the reduction in conquests of the Romans. In addition, the production of gold coins reduced, lowering its value overall. Another reason that contributed to the low production of gold was the increase in prices of gold. It also became a means of exchange for food, eatables, services, and purchases. The Roman Empire finally collapsed in the year 476 AD. The British museum has a very vast collection of roman coins, and jewellery that is very impressive, and is a centre of attention and interest for many people around the world.
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