Nerva AE Sestertius (CONGIAR P R, RIC II 71)

NERVA, AD 96-98
AE Sestertius (33.81mm, 26.26g, 6h)
Struck December of AD 96. Rome mint
Obverse: IMP NERVA CAES AVG P M TR P COS II DESIGN III P P, laureate head of Nerva right
Reverse: CONGIAR P R, Nerva seated right on platform, a second platform before him on which attendant is seated, distributing largess to citizen who mounts steps of platform; statues of Minerva and Liberalitas standing left on pedestals in background; S C in lower fields
References: RIC II 71; RCV 3043; ERIC II 127

Worn with scattered mineral deposits. An exceptionally rare type. This coin depicts the scene of the Imperial congiarum, or distribution of money by the emperor to the citizenry. The type, as noted by David R. Sear (RCV II, p. 88) is a revival of an earlier sestertius type struck under Nero. By the time of Nerva this reverse motif, emphasizing the liberality and generosity of the Emperor, had become a staple piece of propaganda in Imperial coinage. In his book Coinage in the Roman Economy Prof. Kenneth W. Harl observes, “In the ninety-six years between the reigns of Nerva (96-98) and Commodus (180-92) forty-five separate congiaria totaling at least 567,250,000 denarii or 22,690,000 aurei are reported….In less than 150 years emperors are known to have distributed to the urban plebians gifts of nearly 1 billion denarii or 40 million aurei.” (p.221)
An additional point of interest is found in the obverse legend, proclaiming Nerva as Consul for two terms, but only designate or elect for a third (COS II DESIGN III) – showing that this coin was struck at the very end of AD 96, in the short interval of time during which Nerva had been elected for, but not yet formally assumed, his third consulship.

Collection : Roman Imperial - the Nerva-Antonine Emperors