Coins from under the Sea

Abstract

The author of the article analyzes archaeological evidence for the mass transport of Roman coins by sea, challenging the popular theory that the Roman economy relied almost exclusively on cashless paper transfers. He systematizes finds from shipwrecks, dividing them into votive coins hidden under the masts, loose change belonging to travelers, and confiscated or bulk-transported monetary hoards. The analysis reveals a sharp increase in the waterborne transport of vast quantities of coins during Late Antiquity due to political instability and the fear of losing land assets.