. The legionary denarii were the largest issue of silver coinage produced in the late Republican period. They support the claim of the third-century AD Roman historian,
Cassius Dio (
Roman History 50.18.2), that Mark Antony was better funded than Octavian in the lead-up to the
Battle of Actium. It is probable that Octavian used the legionary
denarii to pay his own soldiers after his victory at the Battle of Actium. In hoards from the late first century BC in the eastern Mediterranean, the legionary
denarii are much more frequently found than coins of Octavian, even in areas which were settled by his veterans. Melting the coinage down and re-striking it would have been expensive and time-consuming. Moreover, the lower silver content of Antony's
denarii compared to Octavian's own meant that if he had re-struck the coinage, he would have ended up with fewer coins. Hoard evidence shows that the legionary
denarii continued to form a large part of the coinage in circulation in the Roman Imperial period. Their relatively low silver content meant that the Imperial government did not make an effort to recall and remint them, as they did for other Republican and early Imperial coin issues. It also meant that they were not removed from circulation by the operation of
Gresham's law. In the reign of
Vespasian (AD 69–79), legionary denarii still made up around a fifth of all
denarii in circulation in Greece. Highly worn examples continue to appear frequently in hoards into the third century AD. The denarii percolated through the rest of the empire slowly. Their peak of circulation in northern
Gaul and
Germania comes in the mid-first century AD. They formed a major component of the coinage circulating in
Britannia immediately after the
Roman conquest in AD 43. The
Shapwick Hoard, which was deposited in
Roman Britain some time after AD 224 contained 260 legionary
denarii (3% of the total). The next earliest coins in that hoard were produced under
Nero (AD 54–69). The flood of legionary
denarii probably also played a role in the end of local minting of silver coinage in Greece and the Aegean, which had continued throughout the first century BC, but after the Battle of Actium communities only minted bronze coinage (known as
provincial coinage). John H. Kroll and Clare Rowan suggest that the quantity of silver put into circulation as legionary
denarii meant that local communities no longer had any need to mint their own. ==See also==