Five gold Byzantine coins found in a house ruin in northern Bulgaria have left archaeologists with more questions than answers. Typically, coins discovered at archaeological sites serve as a useful tool for dating the ruins, much like index fossils are used in paleontology. However, these particular coins, which date back to the reign of Byzantine Emperor Justinian I (527-565), present a puzzling discrepancy.
The coins were found in a building that, based on other artifacts such as two iron sickles, iron tools, a belt buckle, three bronze rings, and various ceramic vessels, is believed to date from the 10th century—several centuries after the coins were minted. Adding to the intrigue, evidence of a fire suggests that the building was abandoned following a destructive blaze.
Dr. Stiliyan Ivanov, an associate at the National Historical Institute and the Bulgarian Academy of Sciences, is leading the research. The excavation is taking place at Kaleto fortress, located near the village of Debnevo in the Troyan municipality. This fortress, originally constructed by the Romans and later expanded by the Ottoman Turks after their capture of the region in 1396, has a long history. Kaleto served primarily for surveillance purposes rather than defense and remained in use as late as 1885 during the Serbo-Bulgarian War.
According to Ivanov, the site reveals traces of a large Thracian settlement from the 4th-3rd centuries B.C., followed by several phases of habitation through Late Antiquity, the First and Second Bulgarian Kingdoms, and the Ottoman period. One of the most notable finds from the current excavation is a 10th-century dwelling that appears to have been destroyed by fire. Remarkably, some charred wooden remnants of the structure remain, offering a rare glimpse into its original form.
Ivanov describes the discovery of five gold coins scattered across the floor of the dwelling as the most intriguing aspect of the find. Although two of the coins were damaged by fire, they were identifiable as being from the 6th century, during the reign of Emperor Justinian I. This raises the question of why these much older coins were found in a building that dates to the 10th century. Ivanov speculates that the coins were likely found by the builders of the dwelling, who might have preserved them, even though they were no longer in circulation at the time.
The discovery of the coins is particularly curious because the tools found in the ruin suggest the inhabitants were farmers, making it unlikely that the coins were kept as mementos or collectibles. Ivanov emphasizes that, while no longer in use as currency, the coins would have been valuable due to their gold content—a material that was highly prized during the medieval period.
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Determining the coins’ worth at the time they were stored in the building is challenging. In his book Byzantium: The Empire of New Rome, author Cyril Mango discusses how local inflation, cultural factors, and other variables influenced the purchasing power of coins. While historical records exist, Mango notes that many of these sources are either inaccurate or unreliable due to issues with translation.
The solidus, introduced in the early 4th century, replaced the aureus as the standard currency in the Byzantine Empire. The gold solidus remained a stable and trusted coin until the 11th century, when it was replaced by the debased hyperpyron or bezant. Mango provides examples of the coin’s value in the 6th century: in Jerusalem, a building worker earned 21 folles (equivalent to 1/20 of a solidus) per day. In Alexandria, a loaf of bread cost three folles, and a donkey could be purchased for around three to four solidi. By the time of Emperor Theodosius III (715-717), the value of a gold solidus had increased significantly, able to buy large quantities of wheat, equivalent to the wages of a cavalryman for a month and a half’s work.
The Byzantine Empire, which continued to use Latin on its coins long after Greek had become the dominant language, is remembered for its unique blending of Roman and Greek traditions, evident in its coinage and culture.