Domitian, 81-96. Prototype struck 76. Limes denarius. 19 mm. 2.56 grams. Pegasus, COS IIII above. A desirable type, but this one is in base metal-- a "limes" denarius. Sear I 2637. BMC (Vespasian) 193. An ancient imitation from the borderlands.
Purchased from Warren Esty
This very interesting coin is a Limes denarius of Domitian. It is a base metal version of Domitian RIC 921 struck under Vespasian in 76 CE.
There are many theories about Limes denarii but no direct answers. These circulated in border regions and one theory is that they were used as a form of scrip currency by the Roman military in unstable regions. This theory claims that these coins may have been replaced by the silver version once the soldiers returned home.
Another theory is that they were counterfeits meant to deceive. Some Limes denarii have been found with some silvering. This silvering may have allowed some of these to pass as the true silver denarii.
I thought this coin was interesting enough to own. Besides it has Pegasus on the reverse. Any coin with Pegasus is worth collecting as far as I am concerned.