Latin solidus
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| Latin solidus | |
|---|---|
| File:20 solidii bank note.png A 2018 $20 banknote featuring the | |
| ISO 4217 | |
| Code | LAS |
| Number | 826 |
| Exponent | 2 |
| Denominations | |
| Subunit | |
| 1⁄100 | Sestertius |
| Plural | Solidii |
| Sestertius | sestertii |
| Symbol | $ |
| Sestertius | |
| Banknotes | |
| Freq. used | $5, $10, $ 20, $ 50 |
| Rarely used | $1, $2, $100 |
| Coins | |
| Freq. used | 1 |
| Rarely used | 3 |
| Demographics | |
| Official user(s) |  Latium |
| Unofficial user(s) |  [[|]] |
| Issuance | |
| Central bank | Bank of Latium (Argentaria Latii) |
| Printer | Bank of Latium (Argentaria Latii) |
| Mint | Imperial Mint |
| Valuation | |
| Inflation | 2.0% (March 2018) |
The Latin solidus (symbol: $; ISO code: LAS), commonly referred to as the solidus is the official currency of Latium. It is subdivided into 100 sestertii (singular: sestertii, abbreviated: s). Since DATE, the solidus is a fiat currency. The solidus is one of the most used currencies in international transactions, and is one of the world's primary reserve currencies, regularly used in international transactions. It is one of the oldest currencies still in use.
History
Latin currency has taken various forms since the first manufacturing of coins in the 4th century BC. Early Latin currency was often based on the intrinsic value of the coin, for example, the ancient solidii minted in the 4th century AD were originally pure gold coins. The solidus first arose in the 4th century AD as the primary method of paying soldiers. Though values would change, the solidus remained the main currency in Latium until it was briefly replaced by the denarius from the 11th to 12th centuries. Solidii were minted once again before the Belfrasian Crusade to assist in the payment of soldiers, with mints in Alexandria, Castellum, Ostia, and Utica.
The first solidus banknote was printed in 1688 at the request of Emperor John IX by bankers in what is now Fakolana, and while featuring his signature was the first instance that a Latin currency did not include the portrait of the Latin monarch. The solidus was soon backed by gold and silver, and eventually became a fiat currency in 1877 during the monetary reforms of Emperor Theophylactus I Augustus. Prior to these reforms, Latin currency was non-decimal, where 1000 denarii made 1 solidus, 12 miliarense made 1 solidus, 5 aureii made 1 solidus, and 250 sestertii made 1 solidus. After the decimalization, nearly all currencies other than the solidus and sestertius were demonetized and phased out of circulation, with 100 sestertii making 1 solidus.