Monetary Circulation in the 5th Century: Evidence from Slovenia

Abstract

The numerous coins found in the territory of present-day Slovenia show that the monetary circulation in the first decades of the 5th century took place without any major disturbances, as there was a large quantity of coins of varied denominations in circulation. However, coin circulation sharply declined in the second half of the 5th century, possibly indicating a shift towards a barter system. Gold coins, likely linked to military or provincial administration, predominated. Our study investigates the absence of bronze coins in Slovenian Late Antique sites during the second half of the 5th and early 6th centuries. Two selected sites were examined; one lacking reliable stratigraphic evidence and the other spanning from the late 4th to early 7th centuries. At Tonovcov Grad, stratigraphic evidence indicates the continued use of 4th-century coins into the 5th century. For sites of unreliable stratigraphic data, comparative numerical analyses suggest the use of 4th-century coins into the 5th century, providing that a site has very high shares of coins from the second half of the 4th century and unidentifiable coins.