Minting coins for our Republic

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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Tue Nov 15, 2016 9:46 pm

I agree fully with C. Lupus. I believe that there should be serious thinking on a clear process of evolution of the Denarii into a real currency. In that sense, the Denarii may not as of now have the capability to work exactly as a currency, but we should as a community debate a precise roadmap that will lead to that becoming a fact. It needs to be planned ahead and it should be planned ahead since year 1. We need to make it happen and I encourage all the economists and normal citizens of our Republic to work together if they may on a suiteable Process for this to occure. It may be a long term project, but it has to be developed as a plan from day 1.
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Re: Minting coins for our Republic

Postby Decimus Aurelius Severus » Wed Nov 16, 2016 4:08 am

It is great to see so much interest in this project! As far as examples of Ancient Coins I have a good amount in my collection I would be happy to reference to help design one for the Republic. I think if we all used this thread to post our ideas and design it would be great! :)
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Re: Minting coins for our Republic

Postby Marcus Aurelius Seianus » Wed Nov 16, 2016 7:30 am

Perhaps we need to come up with a form of "gold standard", something to lend weight to our currency. It is also possibly (all the while time consuming) to create two types of coins, a currency, and a challenge/commemorative coin. The currency is just that, currency, but the question is, how can it be spent? Being that we are more virtual than real life, the free exchange of currency for goods and services could he hindered if everyone had to mail coins. Perhaps currency could be used at real life events for goods and serives, backed by the "gold standard" of sorts. As to commemorative, those could be given out or purchased to represents ones position withing the Republic. We could have Consular coins, Praetor, Aedile, etc. In many organizations, to include the US Military, receiving a coin is a mark of honor. I personally have over three dozen challenge coins, some ranging from little groups, all the way up to a 3 star command. The possibilities are endless.
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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Thu Nov 17, 2016 1:53 am

I believe that even Gentes could issue comemorative coins of the likes one day, with their Principes on them.

Regarding the "Gold Standard" there are two ways to work that out. Either make Denarii redeemable to dollars or make them redeemable to Gold or Silver. Given that we already have something of a ratio of Denarii to Dollars in our Treasury, I believe dollars are the best medium term standard. Trade could happen virtually. Someone could agree to an amount in Denarii and transfer it through their phones in conventions. While others could order to buy things for Denarii.

Reasons why people would prefer to deal in Denarii instead of dollars directly? Security is one. If a person tried to refuse to pay the magistrates could swiftly force payment. And no one could promise to pay denarii they didnt have because the amount of Denarii you have is publicly known. All in all it is a safer system and can be done instantaneously, without having to wait for banks to approve payment. Just putting my thoughts on the matter.
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Re: Minting coins for our Republic

Postby Publius Iunius Brutus » Thu Nov 17, 2016 3:16 am

Gaius Florius Lupus wrote:Salvete Quirites!

If we decide to mint coins, we should also rethink the concept of our currency, which is currently far too virtual for having physical coins as equivalent of its value.
The denarius would need to become fully convertible in order to have real value, which means we cannot simply create them "out of thin air" as reward to citizens.
Therefore I would like to use this occasion to publish again my discussion paper regarding this topic.
discussion paper.pdf

If we want to mint coins that represent our currency, we have to get serious about it. It would require some effort by the quaestores, but no major financial investment by the treasury of our Republic.

Valete!
C. Florius Lupus


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Lupe, I agree with this. The current system would need to evolve. When we created this system it was "expected" to evolve over time.

I encourage our next Consules, Praetores and Aediles to consider the next best steps forward in this process. There might be room for a senate sub-committee being formed to draft a plan or roadmap. In such a case I hope you and other interested citizens would be invited to participate.
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Re: Minting coins for our Republic

Postby Decimus Aurelius Severus » Fri Nov 18, 2016 3:46 am

Here is very minty denarius of Gordian III in my collection, I would love for our coins to have the same look like they were hand struck with a die instead of a modern machined look with Ancient designs! :D
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Re: Minting coins for our Republic

Postby Lucius Curtius Philo » Fri Nov 18, 2016 4:08 am

Decimus Arrius Severus wrote:Here is very minty denarius of Gordian III in my collection, I would love for our coins to have the same look like they were hand struck with a die instead of a modern machined look with Ancient designs! :D


Salve!

I agree such a look would be fantastic. But we should balance tradition and expense. If these coins are to be functional and not overly expensive - a compromise with modern minting techniques may be required. I could be curious to see more startup costs being quoted. All of this is great in theory. The limiting step will be startup costs.

vale.

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Re: Minting coins for our Republic

Postby Decimus Aurelius Severus » Fri Nov 18, 2016 4:15 am

Contracting mint and startup costs I am sure would be a hefty sum, but worth a look in the near future if we can get some soli d ideas and designs worked up!
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Re: Minting coins for our Republic

Postby Lucius Curtius Philo » Fri Nov 18, 2016 4:23 am

Decimus Arrius Severus wrote:Contracting mint and startup costs I am sure would be a hefty sum, but worth a look in the near future if we can get some soli d ideas and designs worked up!


Aye, I think the start up cost of $300-400 might soon be within our budget. But I think we would be looking at one of the modern minting methods.
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Re: Minting coins for our Republic

Postby Decimus Aurelius Severus » Fri Nov 18, 2016 4:26 am

We have to start somewhere! :)
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