The first Silver stamped at Rome , was a little before the first Punic War : the Denarius , so call'd from its Primitive Value , which was Ten Asses of Brass ; the Quinarius worth Five , and the Sestertius worth Two and Half . But in the Second Punic War , when there was a necessity of inhancing Mony to support the publick Extraordinaries ; as in the First they had raised the Price of Brass Mony ; so now the Denarius ( though of the same weight as before ) was made equal in Value to Sixteen Asses , the Quinarius to Eight , and the Sestertius to Four . The Impress on the Silver Coin at first was a Chariot : Afterwards the Devises were varied , as the Mint-Master pleased . That Piece which bears the Head of Roma with a winged Helmet on , and frequently some Sacrificing Vessel , intimated ( as some conjecture ) that Rome had by her Arms , Diligence , and Care of Religion , been made Empress of the World : and S. Augustine himself has something to this Sense , in his City of God , speaking of the wonderful success of that Common-wealth .

In these Moneys of Silver we sometimes meet , besides Figure and Device , with other Marks and Characters , denoting the Value of the Pieces : Thus X stamped on the Denarius signifies denos aeris , and declares it to be worth ten Asses of Brass : V the mark of Quinarius , five Asses ; and H S the note of the Sestertius , two and an half . But we meet with some few Denarii marked with XVI , and Quinarii with VIII ; an indication , that they were coin'd in those times , when the Value of the Denarius was inhaunc'd from its original Value of Ten Asses to that of Sixteen . In the Consulars of Brass the Price and Weight of the Mony is sometimes denoted by a certain number of Points , signifying so many Twelfths of the As : so the Sextans is marked with two points , the Quadrans with three , and the Triens with four : And thus remained the antient Mony with those Stamps and Emblems , whilst that glorious Republick continued ; after which we find how the succeeding Emperors adorned them with their own Heads , Effigies , and Devises according to their several Fancies .

But now after all we have said of Roman Mony , none is there so frequently and honorably mention'd , none so peculiarly deserved the name of Nummus , none has so much exercised the Criticks , as the Sestertius , wearing for its Badge , Castor and Pollux with the Head of Roma ; marked by H S , and called Sestertius quasi Semitertius , from its primitive Value , two Asses and an half of the Third . And here our Young Medalists must take notice of a peculiar way of speaking in use among the Romans ; that is , whereas Sestertius signifies a single Sesterce , and Decem Sestertii , so many single Sesterces ; yet Decem Sestertia ( in the Neuter Gender ) signifies ten thousand of them , and Decies Sestertium ( in the Neuter Singular ) no less than ten hundred thousand .

The last Metal that came to the Roman Mint was Gold , sixty two years after Silver , C. Claudius Nero , and M. Livius Salinator II Cos. stamped generally with the same Devices , as the Silver Mony , weighing two Ounces of Silver , and was valued at twenty five of them ; the worth of Gold to Silver of equal Weight bearing then the Proportion of twelve and a half to one . Though in the earliest times Gold had only a decuple value of Silver , both among the Romans , and Greeks .

This may suffice then for a tast of what antiently were the Products of the Roman Mints : Those who would be more accurately Instructed may consult the learned Budaeus , Agricola , Hottoman , Iacobus Bontius , Scaliger , Snellius Capellus , Savot ; our Country men Breerwood , Greaves ; and for the modern of all Nations at present Trafficking through out the World ; that useful , and excellent Account given us in Malin's Lex Mercatoria ; the late Lexicographers and others treating exprofesso of Coines and Mony ; their Definition , Notation , Character , Estimate , Fabrick , &c. together with the Notitia Imperii ; where the Curious may find a full Account of these , and of the Procuratores Monetarum , of which every Mint had one distinctly to govern it , and ( under the Comes Largitionum ) to inspect these matters .

I pass by some other Coins larger in bulk and shew , as the Majorana mention'd in the Cade of Theodosius , being of Silver debased with Copper ; as I also do the Bezantines and others counted by Weight and not by Pieces ; as likewise those of the later Stamp and Empire , the Ceratia or Siliqua ; Miliareuse , and the Follis , &c. and now proceed to Consular Coins , as Medals ; not as priz'd for the intrinsick worth of the Metal only , but for the Knowledge they communicate to the Learned , and such as on that account prefer them to sordid Gain ; since it may happen , that a Medal of Copper may be of more Value to the Knowing , than its weight in Gold , as an Otho in the Grand Bronze . In the mean time I am far from being convinc'd , that what we call Medals did always pass for bare and simple Mony , as the name seems to import and challenge by the sound . The Problem is indeed learnedly discuss'd by Antonius Augustinus , Sebastian Erizius , Aeneas Vicus and others , and concluded generally in the affirmative ; but I think all , except the Iesuit Hardoin make exception to Medalions , Imperials , and those of larger size . For these could not be design'd for ordinary Mony , being evidently stamp'd ( to me more especially ) upon solemn and extraordinary Occasions and Events ; as the more curious and elaborate Reverses , Legenda , and Inscriptions evince , as well as the Shape and Model , for the most part too large and thick for common Exchange and Use ; Not to mention their paucity , being rarely found in that great aboundance , and of the same Emperor and Percussion , as are daily the smaller Monies , more accommodate to Commerce . And though the Senat and People of Rome honoured their Caesars ( as we shall come to shew ) by decreeing their Effigies should be set on their Coins ( as we may learn from our Blessed Saviour's Question to the Captious Iews ) yet does it not , I think , infer , that where we find an Emperors or Consuls Head on a Medal , it must therefore be common Mony : Nor does the Reason weigh light with me which was alledg'd by Cobergeus to the Noble Peireskius , consulting him about this matter ; namely , the impossibility of Medals being made for current Mony ; forasmuch as the very Type , and Form of one single Stamp , would have taken up at least two months time of the most diligent Artist to finish it for the Hammer , and then not endure the Coining of above two or three hundred ; which being greatly batter'd and impair'd ( if for Mony ) the Charge of Workmanship would far have exceeded the value of the Species . To this it being answered , that the Romans using the Industry of their numerous Slaves , ( it cost them little or nothing ) Cobergius replies , that could not be , since Slaves and servile Persons , were by an express Statute prohibited the Painting any thing , or so much as Learning , or using the Art of Drawing and Design ; without which address it could not possibly be accomplished : For that ingenuous Quality being taken into the Liberal Arts , Nat. Hist. l. 35. c. 10. it was , as Pliny tells us , defended Perpetuo Interdicto , ne servitia docerentur , neque in hac , nec in Toreutice ul●us qui servierit opera celebrantur : So that it was never seen that any excellent Piece of that nature , was the Work of a Slave or servile Hand . But to proceed .

Had Medals been look'd on as Pieces of Money only , they would not ( as we said ) have been held in that estimation , as we find they were ; and by the Emperour Adrian , and other Princes , given and received as Jewels ; Presents and Missilia made of them as marks of Honour . But not to amuse the Reader with these Researches , ( which have already taken up large Volumes well deserving the perusal ; ) 't is sufficient for the Dignity of Money abstracted from Medals , that the Scriptures repeat the antient Use of it for the Purchase of Lands and Commodities ; and that Gold and Silver , as most pretious , beautiful , and least obnoxious to rust and decay , ( such as was proved and refin'd ; ) were the Matter , valu'd for its intrinsic Goodness , long before we hear of it in Prophane Authors ; however in after Times , not only all other Metals were imploy'd , but their purity debased , and alloy'd with ignoble Mixtures and Adulterations , as necessity and occasion requir'd : Of which Plutarch , Zondras , Xiphilin , Paulus Diaconus , and other Historians afford many instances . Thus we read , that Alexander Severus ( tho an incomparable Prince ) compos'd a Melange of a fifth part of Silver , and a fourth of Gold ; ( by Pliny call'd Electrum ) Caracalla dishonoured it with Lead ; or to reckon better , the degeneration not of Money and Metals only , but of all the politer Arts , succeeded that Inundation of the Goths , not so much invading as invited in to their Destruction .

Here then ended the lustre of Medals , Riches , and Glory of that renowned Empire , counting from the Dictatorship of Cesar , impress'd on the finest Silver ; and so continuing till Severus , or as some say , from Pompey the Great , to Caracalla ( whom now we mentioned ; ) when after this Gordian made his Coin , half of Brass , till the Posthumi , and so down to Iustinian , who indeed restored it to some degree of splendor , both as to the Matter and Form again , until about the Reign of Phocas , when Church-Tyranny began with that of the Turk , and both East and Western Empire were Ruin'd , by the Ambition of the one , and Arms of the other .

The truth is , after the first three hundred years of the Cesars , there was very little care of any Coins , preserving the Roman Majesty by Medals . For from thence to Theodosius , we meet with none but small , thin , despicable Pieces , without Relievo ; and from the Division of the Empire , since the death of that Prince , nothing save barbarous in Figure , Reverse , Character , Legend , &c. so as none looked any more after them : Nor recover'd they any sort of value for either their Beauty or Metal , for almost a Thousand Years ; when Painting and Architecture began to revive , and rose as it were out of the dust . This first Resurrection one may reckon to be about the time of Ferdinand of Aragon , or the Reign of Iohn Emperor of Constantinople somewhat before , when there was struck a Golden Medal , representing the Council of Florence with some tolerable Art .

As to other Nations , the Carthaginians Coin was first in Lead ; that of the Lacedemonians Iron ; and even some Medals both of the Republick and Imperial , are ●oliated with Silver upon this sturdy and inflexible Metal ; of which our Ancestors the Britains had not only Plates engraven with Flowers and Animals of hideous shape , but Chains and Rings of it instead of Money . Our learned Selden ( speaking of the Bracteate Coin ) seems to infer their beating it extremely thin a long while after , to prevent its being counterfeited ; so as a Piece of Money which was then worth but a Penny , made square , and with Coins or Corners ( as then they shap'd it , till Henry the First turned it round again ) might easily be broken into two , or four parts for Half-pence and Farthings , as some of our worn-out and detrited Harry * * The highest Piece of Silver Coin in the Time of Edward I. Groats , might now into Pence . Whether this magnificent Prince after those extravagant Summs he Luxuriously lavish'd and consumed , descended to make use of Leather ; it has not been my hap to see any of it . But one who made almost as great a noise in the World , Frederick Aenobarbus was forced to pay his Souldiers with such matter , Scorteis Nummis . But more remarkable is that which Martin Crusius tells us of another Frederick , speaking of the Siege of Faventia and other Places , during the Wars of Italy : The Emperor , says he , ( meaning Ferdinand the Second ) Omni pecuniâ , caeterisque preciosis rebus consumptis , Monetam ex Corio fecit ; in cujus una parte , Imperatoris Imago erat , in altera vero Aquila Imperii . Mandavit , ut durante hoc bello , M. Crusius Annal. Suevi●or . lib. 1. par. 3. c. 15. ab omnibus in emendo & vendendo acciperetur , precio nummi aurei AUGUSTANI . Nam confecto bello , pro singulis Coriaceis , totidem aureos venientibus persolutum iri , &c. And Philip Comines says , that Money was so exceedingly scarce in France after the Ransom of King Iohn , Son of Phil. de Valois , that they did use Leather Money , through which a small Boss-nail of Silver was struck in the middle , as we now find a little piece of Copper in our Tin Farthings , to give them strength and value . The sum of the Ransom , it seems , was so vast ( as Money then was precious ) that their own Historians tell us , that besides several Lands , Territories and Seigniories , &c. Homage done by great Persons ( retaining the Titles of Sovereignty both of Sea and Land ) there was pay'd no less than Three Millions of Crowns , which is , One and Twenty Millions , Four Hundred and Twelve Thousand five Hundred Livers of their money at this day . In the mean time , if it be true , that Numa us'd Leather Money , a truly antient Piece were an extraordinary Rarity , and would speak its value . We read , and have seen of Paper Money , nay of baked and sigillated Earth ; Purcelan , Coral , Salt , Linnen , Cotton , Fruit , &c. in comparison of which Achate and Ieate ( which have been also us'd for money ) bear some intrinsic Worth . Mention is likewise made of Shells , 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 Pibbles ( I rather think 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 , or Aenei Calculi serving for Lots ) nay Bones of human Skuls , ( which if of an Enemy slain in War , were of great Value among some barbarous People ) and other Bones are Traffick at this day among the rude Americans ; but of what Animal we are not told , only that 't is yet so great a secret with them , that the most industrious Nations Bartering with them , have not hitherto been able to impose upon them by any thing they have endeavoured to Counterfeit it by . In short , these base and inferior Materials , were among the civiliz'd Nations never made use of , save in utmost exigence , as was that on Card , or Paper , in the famous Siege of Leiden . Upon other occasions 't is remarkable , that wherever the Species is much debased , the People are so too , and ever under grievous Oppressions . Thus that Tyrant Dionysius , and those of Sicily money'd Tin , and corrupted the Coin ; and so our Chronicle tells us , that when there were in England , tot Reges , vel potius Tyranni , quot Domini ( almost as many Kings or Tyrants , as Lords of Castles ) they stamp'd what they pleased : But then ( as Mr. Selden notes ) was the whole Kingdom miserably torn in pieces , and the Rights of Majesty shattered , which obtains to it self no little lustre from Coining Money . Indeed the Cities of Canterbury , Rochester , and such as had * * As Archbishop Ceolnothus , An. 831. before King Ethelstans Reign . been Garrisons of old , and some other Corporations and Towns , Abbots and Bishops had before the Conquest , their Aedes Monetarii , with Privilege Flandi , Feriundi , &c. at pleasure ; but we speak of those who had it not , but who abus'd it . The last I think among our Prelats was the great Cardinal Wolsey , of whom there are yet to be seen small Coins with his half Face Effigies , stampt at Durham ; and some of Cutbert Tunstal , and there is a Piece of Archbishop Cranmer ; I do not say from this Privilege .

And now after all we have said of these Debasements of the barbarous Ages , there were , and still are extant of Lead both Consular and Imperial Medals , with some Greek very Antient , nor less Authentick , and for that cause purchas'd now and then with Gold it self . 'T is true , they were afterwards prohibited by a Law express , which did but inhaunce their value among the curious ; as did some of the noblest Metals that were call'd in , melted down , and abolish'd in detestation of Tyrants , and such as unworthily abus'd their Power ; Nero , Tiberius , Commodus , Caligula , the obscene Helagabalus ; that of our late Regicide and others . But as to that Metal ( whatsoever it were ) the debasers of Gold and Silver ( tho mighty Princes ) lost their Reputation , it being almost the only blemish of that virtuous Emperor Marcus Antoninus , for but covering his Coin with thin Plates of Silver . Be it therefore to the praise of our renowned Elizabeth ( after it had been corrupted almost ever since Richard the First , and the Standard establish'd by K. Edward the First ) who made this Reformation so great and shining a part of her Royal Care , tho something had been done in it before by the German * * Brought hither for their skill and Art in Refining and Coining ; and the name Sterling from the East , or a Star , usually mark'd on the money . Others say , from the Saxon word , signifying a Weight . Esterlings , about the Reign of our Second Henry above Five Hundred Years since .