Contorniate

Contorniates are not properly coins, but rather tokens used somehow in conjunction with the public games or circuses. The name (modern in origin) comes from the Italian word "contorno" meaning "circle" or "rim", and derives from the characteristic feature of contorniates, that of incuse rings about the circumference on both sides in place of the circle of dots normally encountered on Roman Imperial coinage. The rings were engraved after the coins were made. Contorniates are as large in diameter as bronze medallions (most often 35-45 millimeters), and frequently larger (50 millimeters is not unusual), although normally not as heavy as medallions since they tend to be thinner. Many, if not most, are cast instead of struck.  All are of bronze and date from the time of Constantine I (307-337) to Anthemius (467-472).

Many have the letters "E" and "P" formed into a monogram and engraved into them, and sometimes the etching is filled with silver. Other symbols are often engraved into them, one of the most common being the palm branch.  The devices engraved into the contorniates are believed to be reminders of victories won. Indeed Philip Grierson suggests the letters PEL in monogram form sometimes found on contorniates stand for "palma et laurus", a signification of victory in the games.

The designs usually have an emperor on one side (often called the reverse on contorniates) and often a charioteer, dancer, mythological scene, or hero on the other side. The featured emperor was frequently from the first two centuries AD (Julius Caesar is sometimes also depicted), with Nero and Trajan were frequently used since they were known to be enthusiastic patrons of the circuses. However, other designs were used on the reverse, such as busts of Alexander the Great and Greek and Roman authors, such as Sallust, Homer, Horace, Virgil, and Pythagoras.

The obverse legends are often wishes for the success of a competitor or faction.

They may have been issued by private individuals or organizations rather than the government, but there are die links to coins known to have been produced at the mint of Rome.  Their connection with the mint of Rome also seems likely because the last known (of Anthemius - whose reign ended in 472) correlate well with the "fall" of Rome in 476. Alfoldi has argued that perhaps they were issued in connection with the public games by the pagan aristocracy of the Roman Senate, given their Roman connection and the fact that the motifs are never Christian. The exact use of contorniates is a matter of speculation although their use as good-luck charms or amulets for the public games is generally accepted, though some believe they were distributed at New Year's festivals to wish success in the New Year.