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Antoninianus - Diocletian struck under Carausius, PAX, Londinium

Issuer Britannic Empire (Carausius)
Year 292-293
Type Standard circulation coin
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Reverse description Standing figure of Pax (the goddess of Peace) facing left, draped, holding an olive branch in her extended right hand and a long sceptre or transverse spear in her left. The field flanking the figure carries the divided inscription S P. The exergue bears the mint mark MLXXI, denoting the Londinium mint with the officina and batch notation characteristic of Carausian coinage. The reverse legend PAX AVGGG encircles the scene within a beaded border, the triple G signifying the three co-emperors Carausius, Diocletian, and Maximian.
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Reverse lettering PAX AVGGG. S P
(Translation: Pax Augusti (Peace of Augustus, 3 Gs to represent 3 emperors). Sacra Pecunia (sacred money))
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Additional information

Carausius — the Menapian naval commander who seized Britain and northern Gaul in 286 and declared himself Augustus — had a propagandist's instinct rarely matched among usurpers. Striking coins in the names of Diocletian and Maximian alongside his own was a calculated bid for legitimacy, implying collegiate rule rather than rebellion. Neither emperor recognized him.

He was murdered by his finance minister Allectus in 293, the same year Constantius Chlorus began dismantling his continental holdings. This piece, struck at Londinium in the final months of his reign, is among the last evidence of a mint that would not produce coins again under legitimate authority until Allectus briefly revived it.

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