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Roman Republic: Res publica Romana • View topic - Minting coins for our Republic

Minting coins for our Republic

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Moderators: Publius Iunius Brutus, Lucius Aurelius Curio, Titus Flavius Severus, Marcus Flavius Celsus, Tiberia Salvia Alba

Re: Minting coins for our Republic

Postby Marcus Aurelius Seianus » Fri Dec 02, 2016 7:49 am

Salve,
A concept,
After doing some cost comparison and research I came up with an average cost for producing coins for the Republic. These coins would be well made, and could be produced in vast quantity, with a minimum run of 250. At a base run of 250, we would have a $500 die fee (creation of the die to make the coins) and each coin would be roughly $2.70 each. Thats a total of $1175. The coins would be 14 gauge brass and 1 inch in diameter.

So, how to fund it, well we could create a funding account, where people "donate" to the creation of the coinage. If we sold the coins at direct cost, we would need to sell 435 to break even, but at $5 each, the number is reduced to 235.

Lastly, larger quantities offer significant price decrease, from $2.70 to $.73. But to get to the $.73 price point we are looking at 25,000 coins. That means at face value we would need to sell 18750 coins to break even, but again, at $5 each we would need to sell 5000. But at $5 each, we would make approx. $125,000.
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Re: Minting coins for our Republic

Postby Decimus Aurelius Severus » Sat Dec 03, 2016 6:33 pm

I am ready to buy! :) :)
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Re: Minting coins for our Republic

Postby Gaius Florius Lupus » Mon May 01, 2017 1:10 pm

Salvete!

Due to the renewed interest in this topic by the Senate, I would like to revive this thread.
Coins are cheap to make. We do not need a lot of things: an anvil die, a hammer die, and a really big hammer.
c3cb67ea970f32f8c867d4209f90b7b0.jpg
Hammer and anvil dies
c3cb67ea970f32f8c867d4209f90b7b0.jpg (85.49 KiB) Viewed 3138 times

This is how it looks.
These would be a one time investment of a few hundred dollar. A lot of coins can be produced before the die wears off.

Of course we also need the raw metal disks. And their price depends on the material and whether we want to have the coins to have an intrinsic value (silver in case of the denarius) or just fix it against the dollar with virtually worthless material.

The mentioned prices for industrially produced coins are definitely too high. If the material has no intrinsic value, then the raw coins should cost not more than a few cents or even less than a cent. After buying the dies we just need a volunteer to hammer these coins and ship them when required. This would probably be the job of a Quaestor. Well, actually it would rather be the job of a servus publicus working for the Quaestor, but since we have a shortage of slaves at the moment, the Quaestor would probably have to do it himself.

The costs for this project are manageable. The Senate should rather address the question, whether the coins should have an intrinsic silver value or if they are fixed against the US dollar, if and how they could be redeemed. It is also important to establish a system how they relate to virtual denarii. Can a citizen withdraw his virtual denarii as physical coins? How can physical coins be deposited? This will require some changes of our online denarii transfer system.

We should not do this wrong and come up with a half-solution. If done properly, this could become something really big. It could become a real currency even with people who are currently not citizens of our Republic using it as a payment system and as protection against inflation and turmoil in the global financial system.
Please keep in mind that if we fix the value of the denarius by its intrinsic silver value, then we need to keep physical silver reserves for our virtual denarii. How to hammer this silver into coins is the smallest problem here. The same is true for freely exchangeable denarii fixed against the US dollar. In this case we need dollar reserves.

Of course we could go for the easy way and just sell some industrially produced souvenir medals and call them denarii, while the treasury pockets the profit from the sale. But this would be a missed opportunity for this project.

Valete!
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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Mon May 01, 2017 4:07 pm

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Re: Minting coins for our Republic

Postby Manius Aquillius Lupus » Mon May 01, 2017 5:38 pm

SHIRE MINT POST would be the perfect people to contact for striking coins. They make all fantasy pieces for example like Game of Thrones, Lord of the Rings, Authurian stuff etc etc. If you're looking to replicate a Roman Republican coinage these guys would be the ones to have them make it.


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Re: Minting coins for our Republic

Postby Gaius Florius Lupus » Mon May 01, 2017 6:08 pm

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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Mon May 01, 2017 8:44 pm

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Re: Minting coins for our Republic

Postby Procula Valeria Messalla » Tue May 02, 2017 2:19 am

Why coins?

Expensive to set up. Limited function at the present. Is this really the best use of funds?

Why not invest in $300 dollars of wood and sell a well constructed Lararium?

Why not sell Togas for cultores?

Why not sell lararium supplies?

Why not sell shirts and mugs which have zero start up cost? The TEMPLVM is already doing this?

Why not sell flags?


I don't get this fixation on coins. Very odd.
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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Tue May 02, 2017 3:27 am

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Re: Minting coins for our Republic

Postby Procula Valeria Messalla » Tue May 02, 2017 3:56 am

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