Around 305 AD, Diocletian downgraded gold to 60 coins per pound. Emperor Augustus, who reigned in ancient Rome from 31 BC. C. In 14 AD, he set the price of gold between 40 and 42 coins per pound.
In other words, a pound of gold could produce 40 to 42 coins. During the 3rd century, gold pieces were introduced in a variety of fractions and multiples, making it difficult to determine the expected denomination of a gold coin. From 284 to 305 AD, Diocletian further downgraded gold to 70 coins per pound initially, but coins were later issued at 60 coins per pound. Aurei (“golden”, used as a noun) was a gold coin from ancient Rome originally valued at 25 denarii of pure silver.
Inflation is declining, so cash-like investments don't have to offer such high interest rates, and fewer and fewer people are opting for gold as a stable store of value. When the strength of the dollar increases and inflation decreases, interest rates can be expected to fall at the same time as gold prices. The next revaluation occurred in the period from 211 to 217 AD, during the reign of Marcus Aurelius Antoninus (Caracalla), who reduced the value to 50 coins per pound of gold, reducing the value of each coin and making gold worth more. When people refer to the spot price of gold, they are simply referring to the price at which you could buy gold at that time.
Interest rates are linked to inflation, so they have historically also been closely related to gold prices. After the stock market crash of 1929, many investors began to exchange paper money for its value in gold. The aureus was about the same size as the denarius, but heavier due to the higher density of gold (unlike silver). When it comes to gold, supply is affected by trade trends and by mining companies that extract more gold than they can put on the market.
The analysis of the Roman aureus shows that the level of purity was normally close to 24-carat gold, that is, greater than 99% purity. The following chart shows the price of gold since 1968, with some notable events in the gold market. When inflation rises, the value of the dollar falls and some investors flock to gold in the hope that it will serve as a stable store of value. Due to the enormous inflation caused by the issuance of base metal coins by the Roman government, but the refusal to accept anything other than silver or gold for the payment of taxes, the value of Oro aureus in relation to the denarius grew dramatically.
