Alexandrian mint during the Roman Empire struck generally only bronze or billon coins. This rule has been violated in AD 69 when Vespasian came to rule, and gold coins with the portrait of the new emperor were struck between AD 69 and 70. These coins are rare and most probably were used outside Egypt, possibly before Syrian mint started producing gold coins.
A study of coin output in Egypt during the Flavian dynasty (AD 69–96) brings to light a dichotomy in circulation between billon tetradrachms and low denomination bronze coins. The composition of hoards with Flavian silver issues suggests minimal coin production due to a sufficient quantity of Nero’s tertadrachms on the market. However, stray finds of coins from the Flavian dynasty consist mainly of bronze issues, apparently outnumbering Nero’s low-denomination coin output. A tempting idea to consider is that the low number of Flavian silver coins in circulation resulted in an extended production of bronze issues.
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