Diocletian (AD 284-305). AV aureus (20mm, 5.23 gm, 7h). NGC Choice AU 5/5 - 4/5, scratches. Cyzicus, AD 287-290. DI-OCLETIANVS-AVGVSTVS, laureate head of Diocletian right / COS-III, Diocletian, laureate, in military dress, right hand raised in salute, on horseback pacing right. RIC VI 287. Calicó 4445. From the Paramount Collection. Ex Roman Gold Coins from the Collection of a Perfectionist (Leu Numismatik AG, Auction 87, 6 May 2003), lot 98; purchased privately in 1971 Although he reached the Roman throne via the path of coup and civil war, Diocletian turned out to be a far-sighted statesman of rare ability. Achieving undisputed power in AD 285, he came in with a detailed blueprint for Roman revival. Recognizing the task of governing the Empire had grown too great for one man, he divided supreme power with three old military colleagues and devised a formula for renewing this "Tetrarchy" every 20 years. The arrangement worked surprisingly well and by AD 300 the ceaseless revolts and civil wars that had nearly destroyed the Roman Empire over the latter third century had stopped, allowing Roman economic life to slowly and painfully recover. His many reforms included a complete revamp of the Roman coinage system. This aureus, struck at the very outset of his reign, retains the style, fabric and weight (about 4.75 grams) fixed by Aurelian in AD 275, about 1/70th of a Roman pound. In AD 293, Diocletian increased the weight of the aureus to 1/60th of a pound (about 5.4 grams), and at the same time introduced an entirely new coin of good silver, the argenteus. This issue was struck for Diocletian's third consulship, which he celebrated in Nicomedia.

HID09801242017

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