Classical Numismatic Group, LLC
Electronic Auction 482 16 Dec 2020
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Macrinus. AD 217-218. AR Antoninianus (22.5mm, 4.28 g, 6h). Rome mint, 4th officina. 1st emission, AD 217. Radiate and cuirassed bust right, wearing short beard / Salus seated left on throne with high back, holding scepter and feeding out of patera serpent coiled around and rising from altar to left. RIC IV 88; Clay Issue 1; RSC 115b. Lightly toned, obverse die break, small metal flaws. VF. Rare.
Macrinus is credited with attempting to reform the Roman currency after the inflationary policies of Caracalla, which included the introduction of the silver two-denarius piece now commonly called an Antoninianus. Weighing only 50% more than a contemporary denarius, the coin seems to have been unpopular with the soldiers and public, who recognized it was overvalued relative to the denarius. Macrinus continued to strike Antoniniani for a few months after he usurped the throne in April of AD 217, but discontinued their issue before the end of the year. He even appears to have increased the weight and fineness of the silver denarius by a few percent. However correct his reforms might have been, his other actions, including reducing legionary pay and attempting to buy peace with the Parthians, led to the rapid collapse of his regime in June 218.
Macrinus is credited with attempting to reform the Roman currency after the inflationary policies of Caracalla, which included the introduction of the silver two-denarius piece now commonly called an Antoninianus. Weighing only 50% more than a contemporary denarius, the coin seems to have been unpopular with the soldiers and public, who recognized it was overvalued relative to the denarius. Macrinus continued to strike Antoniniani for a few months after he usurped the throne in April of AD 217, but discontinued their issue before the end of the year. He even appears to have increased the weight and fineness of the silver denarius by a few percent. However correct his reforms might have been, his other actions, including reducing legionary pay and attempting to buy peace with the Parthians, led to the rapid collapse of his regime in June 218.