Marcus Aurelius — Silver Denarius, Rome, AD 165

Ruler: Marcus Aurelius
Full academic name: Marcus Aurelius Antoninus Augustus
Reign as Roman Emperor: 7 March AD 161 – 17 March AD 180
Dynasty: Antonine / Nerva-Antonine Dynasty
State: Roman Empire
Date: AD 165
Mint: Rome
Denomination: Denarius
Metal: Silver (AR)
Weight: 3.49 g
Diameter: 16 mm
Manufacture: Struck
Grade: NGC Ancients XF (Extremely Fine)
Certification: NGC Ancients
NGC Certification No.: 6557887-022
References: RIC III 138; BMCRE 368; Cohen 481; RSC 481
Rarity: R1 — Rare
Reverse type: Roma seated left, holding Palladium and parazonium, round shield at side.

The attribution to RIC III 138 is established by the combination of the obverse legend M ANTONINVS AVG ARMENIACVS, the reverse titulature P M TR P XIX IMP III COS III, and the seated figure of Roma. This particular issue belongs to the Roman mint production of AD 165.

Obverse

Legend:
M ANTONINVS AVG ARMENIACVS

Expanded:
M(arcus) ANTONINVS AVG(ustus) ARMENIACVS

Translation:
“Marcus Antoninus Augustus Armeniacus”, or “Marcus Antoninus Augustus, conqueror of Armenia.”

Laureate head of Marcus Aurelius right. The emperor is represented as a mature, bearded ruler, with the characteristic thick, curling hair and beard of his mature imperial portraiture. The laurel wreath signifies imperial dignity and military victory.

The title ARMENIACVS is of particular chronological and historical importance and commemorates Roman successes in Armenia during the Parthian War. For RIC III 138, the standard catalogues record the complete form ARMENIACVS, rather than the abbreviated ARM.

Reverse

Legend:
P M TR P XIX IMP III COS III

Expanded:
P(ontifex) M(aximus) TR(ibunicia) P(otestate) XIX IMP(erator) III CO(n)S(ul) III

Translation:
“Pontifex Maximus, holder of the Tribunician Power for the nineteenth time, acclaimed Imperator for the third time, Consul for the third time.”

The reverse titulature provides an important chronological indicator. The combination of TR P XIX with IMP III places the issue in AD 165, with the RIC 134–143 series carrying IMP III belonging to the later part of that year.

Reverse Type

The reverse depicts Roma, the divine personification of the city of Rome and, by extension, of the Roman state.

Roma is shown helmeted and draped, seated left on a low seat. On her extended right hand she holds a small sacred figure, the Palladium; in her left she holds a parazonium, the short ceremonial weapon associated with military virtue and authority. A large round shield stands at her side.

This description corresponds to the academic typology of RIC III 138 recorded by OCRE and the Coin Hoards of the Roman Empire database.

The Palladium was the sacred image of Pallas Athena, identified in the Roman world with Minerva. According to ancient tradition, possession of the Palladium guaranteed divine protection to the city that preserved it. Within Roman state ideology, it consequently became a potent emblem of the divine protection, security, and perpetuity of Rome.

The miniature human figure visible on Roma's extended hand is therefore an important iconographic component rather than a secondary decorative element.

Some older and commercial descriptions identify the small figure as Victoria (Victory); however, the academic OCRE and CHRE descriptions of RIC 138 identify it as the Palladium.

References and Rarity

RIC III 138
BMCRE 368
Cohen 481
RSC 481

The type is defined by the combination:

Obv.: M ANTONINVS AVG ARMENIACVS
Rev.: P M TR P XIX IMP III COS III
Roma seated left, holding Palladium and parazonium; round shield at side.

Published specimens confirm the attribution to RIC III 138, together with BMCRE 368 and Cohen/RSC 481.

Rarity classification: R1 — Rare.

In the specialized rarity scale used for this issue, the type is classified R1, indicating a genuinely scarce or rare variety rather than a common issue. Specialist catalogue records for RIC 138 explicitly assign the rarity designation R1.

The rarity designation R1 should not be confused with the catalogue number RIC 138: RIC 138 identifies the numismatic type, whereas R1 expresses its relative degree of rarity.

Condition and NGC Certification

This coin has been professionally authenticated and certified by NGC Ancients and assigned the grade:

XF — Extremely Fine

NGC Certification No. 6557887-022

For an ancient Roman silver denarius, the XF grade represents a high level of preservation, with substantial original design detail remaining despite natural evidence of ancient circulation.

The obverse is particularly attractive, preserving a strong imperial portrait with clearly defined facial features, beard, hair, and laurel wreath. Much of the surrounding legend remains readily legible, including the historically significant title ARMENIACVS.

The reverse is somewhat softer in execution and preservation, but the principal iconographic elements remain identifiable: seated Roma, the extended hand supporting the Palladium, the weapon in the opposite hand, and the prominent round shield. The surviving titulature permits secure attribution and dating.

Patina and Surfaces

The coin displays an attractive natural light-grey silver patina, with locally deeper grey toning within the recessed portions of the design. These subtle tonal variations accentuate the imperial portrait, beard, laurel wreath, legends, and the principal elements of the reverse composition.

The surfaces exhibit an appearance consistent with the age and circulation history of an authentic ancient silver coin. The patina is visually harmonious and does not obscure the principal devices or legends.

Historical Background

Marcus Aurelius, whose full imperial name was Marcus Aurelius Antoninus Augustus, was born on 26 April AD 121 and ruled the Roman Empire from 7 March AD 161 until his death on 17 March AD 180.

A member of the Antonine dynasty, Marcus Aurelius occupies a distinctive position in Roman history as an emperor, military commander, administrator, and one of the most celebrated representatives of later Stoic philosophy.

Following the death of Antoninus Pius in AD 161, Marcus Aurelius succeeded to the imperial throne and shared imperial authority with Lucius Verus.

The early years of their joint reign were dominated by a major war against the Parthian Empire. Roman armies achieved substantial victories in the East and restored Roman influence in Armenia. These successes are directly reflected in the title ARMENIACVS displayed prominently on the obverse of this denarius.

The later years of Marcus Aurelius' reign were marked by the devastating epidemic conventionally known as the Antonine Plague and by prolonged warfare along the Danubian frontier, particularly the Marcomannic Wars. Despite almost continuous military and political difficulties, Marcus Aurelius developed an enduring reputation as an emperor committed to duty, self-discipline, rational government, and the philosophical principles of Stoicism.

His philosophical work, commonly known as the Meditations (Meditationes), was originally composed as a series of private reflections and has become one of the most influential surviving works of ancient Stoic philosophy.

Marcus Aurelius died on 17 March AD 180 while campaigning on the Danubian frontier. He was succeeded by his son Commodus.

Expert Conclusion

This specimen is an AR denarius of Marcus Aurelius, struck at Rome in AD 165, securely attributable as RIC III 138; BMCRE 368; Cohen/RSC 481.

The principal diagnostic features are the complete obverse legend M ANTONINVS AVG ARMENIACVS, the reverse titulature P M TR P XIX IMP III COS III, and the representation of Roma seated left with Palladium, parazonium, and round shield.

The issue is classified R1 — Rare, and combines an expressive portrait of Marcus Aurelius with the historically important ARMENIACVS victory title and a highly symbolic representation of Roma with the Palladium, an emblem of the divine protection and perpetuity of the Roman state.

The specimen's desirability is further enhanced by professional NGC Ancients certification, an assigned grade of XF (Extremely Fine), and its individual certification number 6557887-022.