Tuesday, 29 November 2016

The value of money...

The Romans had quite a complicated system of currency with many demoninations that changed over the course of history. For our RP purposes, we will simplify the system to 3 demoninations:
Denari (silver)
Sesterces (bronze)
As (bronze)

Aureus - (gold) - this demonination was exceedingly rare in the time of 80BC - it had only started to enter circulation (in 83BC) and was used to pay armies. Hence if you start spending gold coins in Pompeii it would be the equivalent of using marked bills - questions will be asked and the vigile may come knocking on your door. It was the highest value coin in roman currency at the time, hence I include it for comparison.

1 Aureus = 25 Denarius = 100 Sesterces = 400 Asses

The richest man in this time period was Marcus Licinius Crassus. It was estimated that he was worth around 200 million sesterces - the equivalence of the Treasury of Rome.

From Wikipedia:
The census divided citizens into six complex classes based on property. The richest were the senatorial class, who during the Late Republic had to be worth at least 400,000 sestertii, the same as the equites; when Augustus reformed the senate during the first years of the Principate, he raised the property requirement to 1,000,000 sestertii.[7] The wealth of the senatorial class was based on ownership of large agricultural estates, and by custom members did not engage in commercial activity.
Below the senatores in rank, but above others were the equites ("equestrians" or "knights"), with 400,000 sestertii, who could engage in commerce and formed an influential business class. Certain political and quasi-political positions were filled by equites, including tax farming and, under the Principate, leadership of the Praetorian Guard. Below the equites were three more classes of property-owning citizens; and lastly the proletarii, whose property was valued below 11,000 asses.
The following price lists have been modified from Diocletian's "Edict of Maximum Prices" issued in 301 AD to curb inflation. As Legionaries were paid 320 denarii a month in 300AD and around 112 denarii a month before reforms by Caesar, I did a rudimentary adjustment for inflation (i.e: divided it all by 3). There is no accurate reference to compare the value of roman coins to modern day currency - as the coinage changed in intrinsic value (i.e: deteriorated) over the years. (Also different websites quote different figures!!) So please bear this in mind when you use these values for guidance and comparison.

M O N T H L Y   S A L A R I E S :
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MILITARY:
    Legionary Soldier (Private)………...............................112 denarii
    Praetorian (guard in Rome)..........................................320 denarii
    Legionary Soldier (Centurion)..................................1600 denarii

Note that soldiers were also given other allotments such as wheat. However they had to pay for their own equipment, clothing and rations and even contribute for funerals for the fallen in their unit.

LABORERS:
    Secretary/clerk................................................................160 denarii
    Lecturer..…………..............................................................150 denarii
    Messenger……….............................................................64 denarii
    haruspex (fortune teller) ……………..........................80 denarii
    farm laborer, with maintenance.................................106denarii
    lime burner, with maintenance...................................160 denarii
    drover, with maintenance............................................80 denarii
    sewer cleaner, working a full day, with      
        maintenance...............................................................80 denarii
    shepherd, with maintenance......................................80 denarii
    water carrier, working a full day, with
     maintenance................................................................80 denarii
    all other general labor..................................................80 denarii

SKILLED LABORERS:
    cabinet maker, with maintenance..............................160 denarii
    carpenter, with maintenance……...............................214 denarii
    stone mason, with maintenance................................214 denarii
    figure painter, with maintenance...............................320 denarii
    fuller (Wool weaver),………….......................................320 denarii
    marble paving and walls custodian, with      
   maintenance................................................................160 denarii
    wall mosaics worker, with maintenance.................160 denarii
    model maker, with maintenance...............................240 denarii

EDUCATION/LEARNED PROFESSIONALS:
    Elementary teacher per boy
        avg 8-10 pupils.............………………………………....21 denarii
    Teacher of arithmetic, per boy
        avg 8-10 pupils……………………………….................21 denarii
    Teacher of shorthand, per boy
        avg 8-10 pupils ………………………………................21 denarii
    Teacher of Greek or Latin language/literature,
        per pupil /avg 8-10 pupils……...............................54 denarii
    Teacher of geometry, per pupil
        avg 8-10 pupils……………………………...................54 denarii
    Teacher of rhetoric or public speaking,
        per pupil/avg 8-10 pupils........................................22 denarii


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COST OF GOODS AND SERVICES
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Quick Reference:

    A loaf of bread……....................................................................66 sesterces
    A bath at a public bath.................……...............................33 sesterces
    A tunika (clothing)......................................…….................22 denarii
    Everyday cloak…………….................................60 to 160 denarii
    2 sparrows….....................................……..............................33 sesterces

    Bi-Weekly cost of gladiator sponsorship
        approx. (novice)…………….........................36 to 187 denarii
    Bi-Weekly cost of gladiator sponsorship
        approx. (veteran)…….…...........................213 to 346 denarii
    Bi-Weekly cost of gladiator sponsorship
        approx. (champion)….…........................373 to 533 denarii

    Earnings from a winning gladiator    
        (novice)……………………….….........................320-533 denarii
    Earnings from a winning gladiator  
        (veteran)……….....................………………….800-2667 denarii
    Earnings from a winning gladiator        
        (champion)………………………......................…..5300+ denarii

Temple Offerings;
    Basket of Fruits & Grains………........................................30 sesterces
    2 Sparrows…..........................................................................30 sesterces
    2  Doves…..............................................................................2 denarii
    2 Pigeons….............................................................................1 denarii
    Goat ………………...............................................................130 denarii
    Calf ………............................................................................88 denarii
    Bull ………………...............................................................533 denarii

Monthly Domestic upkeep
(the cost of food, rent, water, wine, clothing, slaves, etc)

    A small one room house in the city……...................160 denarii
    A small two room house in the city..………...............266 denarii
    An urban villa...........…………………..............................533 denarii
    A pastoral villa................................................................800 denarii

Cost to purchase:
ANIMALS & SLAVES

    1 donkey……………........................................................667 denarii
    1 cow…...................................................................533-1067 denarii
    1 farm slave (male) …………...................................27-270 denarii
    1.common slave (child)...........…….......................27-1067 denarii
    1 common slave (female)......…….....................53-1067 denarii
    1 common slave (male)......................................53-533 denarii
    1 special slave (gladiator, guard)...................270-533 denarii
    1 special slave (female, pretty or
        trained in special skills)……….................2700-10680 denarii
    1 skilled slave (carpenter, accountant,
        scribe, blacksmith etc)…............................533-2700 denarii
    1 Greek tutor slave.......................................5400-27000 denarii

LAND
    1 acre land = 5333 denarii

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BREAD FLOUR
(pricing based on a month’s supply of flour for a family of 4)
    A months worth of Wheat..............................................42 denarii
    A months worth of Barley……………..............................31 denarii
    A months worth of Rye......................................................31 denarii
    A months worth of Millet,...............................................42 denarii
    A months worth of Panic...................................................31 denarii
    A months worth of Spelt,...............................................42 denarii

Subsidies were issues by the government to supply bread flour to the people or else many would have starved to death. Not everyone could afford to eat bread. If there were no public ovens available for baking, people would make a simple porrige out of wheat flour - similar to polenta.

VEGETABLES, BEANS & GRAIN
(pricing based on a month’s supply of flour for a household of 4)
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    Beans, crushed...................................................................10 denarii
    Beans......................................................................................5 denarii
    Lentils......................................................................................10 denarii
    Pulse........................................................................................10 denarii
    Peas, split..............................................................................10 denarii
    Peas, not split.......................................................................5 denarii
    Rice, cleaned........................................................................21 denarii
    Barley grits, cleaned.........................................................10 denarii
    Spelt grits, cleaned...........................................................21 denarii
    Sesame..................................................................................21 denarii

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WINES
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    Picene, dinner serving......................................................5 denarii
    Picene, amphora.................................................................21 denarii
    Tiburtine dinner serving..................................................5 denarii
    Tiburtine amphora..............................................................21 denarii
    Sabine dinner serving......................................................7 denarii
    Sabine amphora..................................................................27 denarii
    Falernian dinner serving...................................................10 denarii
    Falernian amphora............................................................43 denarii
    Aged wine, dinner serving................................................3 denarii
    Aged wine, amphora.........................................................10 denarii
    Ordinary wine dinner serving..........................................1 denarii
    Ordinary wine amphora...................................................5 denarii
    Beer, Gallic or Pannonian dinner serving.....................  50 sesterces
    Beer, Egyptian dinner serving.........................................30 sesterces

OILS & SEASONINGS
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    From unripe olives 1 bottle...............................................3 denarii
    Second quality 1 bottle......................................................2 denarii
    Salt 1 month’s supply........................................................10 denarii
    Spiced salt 1 month’s supply...........................................1 denarii
    Honey, best quality 1 bottle...........................................5 denarii
    Honey, second quality 1 bottle.......................................3 denarii
    Liquamen primum, 1 bottle ........................................ 5 denarii
    Liquamen secundum, 1 bottle ..................................... 4 denarii    
                    
MEAT
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    Pork 1 pound........................................................................2 denarii
    Beef 1 pound.......................................................................2 denarii
    Leg of pork, Menapic or Cerritane,
        best 1 pound ……………………....................................3 denarii
    Pork mincemeat 1 ounce...................................................60 sesterces
    Beef mincemeat 1 pound..................................................60 sesterces
    Pheasant, fattened..............................................................9 denarii
    Pheasant, wild.......................................................................2 denarii
    Chickens 1 brace................................................................2 denarii
    Venison 1 pound.................................................................2 denarii
    Butter 1 pound.......................................................................2 denarii

FISH
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    Sea fish with rough scales 1 Italian pound..................2 denarii
    Fish, second quality 1 Italian pound...............................2 denarii
    River fish, best quality 1 Italian pound..........................1 denarii
    River fish, second quality 1 Italian pound....................1 denarii
    Salt fish 1 Italian pound.......................................................60 sesterces
    8 dozen Oysters.................................................................10 denarii

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Reference:
http://ancientcoinsforeducation.org/content/view/79/98/




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