Rome conquered with its legions, but nearly four million ancient coins reveal what truly held its vast territories together: money, markets, and trade.
Researchers have reconstructed how money moved across the Roman world from 155 BCE to 2 CE, revealing an economy that became increasingly connected as Roman power spread. Their findings show how currency initially followed the legions into new territories but remained in circulation only after those regions developed permanent commercial, administrative, religious, and civic institutions.
The work demonstrates how data science is transforming the study of ancient history. Instead of relying only on written accounts, inscriptions, and individual artifacts, researchers can now combine millions of digitized archaeological records to uncover patterns that would otherwise remain invisible.
Four Million Coins Reveal A Hidden Network
The study was led by Eduardo Amaral Haddad, a professor at the University of São Paulo’s School of Economics, Business, and Accounting (FEA-USP), and Inácio Fernandes Araújo, now a professor at the Luiz de Queiroz College of Agriculture (ESALQ-USP). Both are affiliated with the Regional and Urban Economics Lab at the University of São Paulo (NEREUS-USP) in Brazil.
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