338 BCE: EARLY ROMAN COINAGE

Roman coins (Western Roman Empire) had intrinsic metal value, whether by dint of gold, silver or copper content. The currency value was often in the range of 1.5–3 times the underlying metal value.

Roman coinage from the mid–200s BCE through the mid–200s CE included, among other coinage, the following: the aureus (gold), denarius (silver), sestertius (bronze), dupondius (bronze) and the as (copper).