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In page Crisis of the Third Century:

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This resulted in runaway rises in prices, and by the time Diocletian came to power, the old coinage of the Roman Empire had nearly collapsed. Some taxes were collected in kind and values often were notional, in bullion or bronze coinage. Real values continued to be figured in gold coinage, but the silver coin, the denarius, used for 300 years, was gone (1 pound of gold = 40 gold aurei = 1,000 denarii = 4,000 sestertii).[citation needed] This currency had almost no value by the end of the third century, and trade was carried out without retail coinage.