326, Lot: 606. Estimate $150. Sold for $150. This amount does not include the buyer’s fee.

Anonymous. Circa 530 or later. AR Siliqua or Scripulum(?) (16mm, 0.93 g, 11h). Constantinople mint. Helmeted and draped bust of Constantinopolis right / Large K. Bendall, Anonymous Type 8; Vagi 3051. Good VF, lightly toned, porosity.

The introduction of this type probably occurred in 530, on the bicentennial of the founding of Constantinople, but the large output and scant hoard evidence would seem to suggest a much longer period of mintage, perhaps lasting decades. Bendall proposes (p. 151): If we consider that type 8 was originally struck to commemorate the bicentennial of the foundation of Constantinople, what reasons might there be for the continued striking for so long? Was it struck in large quantities at intervals, perhaps every succeeding tenth anniversary of Constantinople, or was it struck more frequently in smaller quantities? This is probably an unanswerable question but I have one suggestion. Consuls distributed coins to the populace at the consular games, the emperors in gold and non-imperial consuls in silver. Originally the consulship had been a great honour since the consuls named the year. However, by the early sixth century, consulships were not held every year and the cost of the games [became] so expensive that in the east, where the senators were not as wealthy as the old families in the west, the emperor defrayed part of the costs. Justinian I held his last consulship in 540 and the last private consulship was held the following year. It is possibly not a coincidence that, since the consulship was no longer annual, thus making its use in annual dating prone to error, its demise basically coincided with the commencement of dating official documents by regnal year from 538. A further reason for the demise of the consulship was that Justinian possibly no longer wished to subsidize the games at a time when he needed every penny to pay for his reconquest of Africa and Italy.

The consulship was not held again until Justin II took it in 566. It was held thereafter at regular intervals and only by the emperors; Tiberius Constantine in 579, Maurice for six days at the end of 583 and from July to November 602, while Phocas took the consulship in December 603, which was the last occasion which it was held. The taking of the consulship by Justin II in 566 was well received by the populace of Constantinople, but they could hardly have been starved for entertainment during the previous 25 years. In fact, the founding of the city had always been celebrated and it may well be that this now took on a more important part in the entertainment of the citizens. Could it be that type 8 was struck annually on these occasions, after 530, or possibly, after 541? A regular small annual issue might well have been sufficient to introduce these coins into the currency pool.