Abstract: People in different professions have different monetary needs, but this fact has yet to be fully exploited with respect to the ancient economy. Greek and Roman authors tell us at least as much about the money and assets individuals held (or sought to hold) as they do about their transactions. This chapter focuses on ancient money at rest. Examining the demand for money within the context of the demand for other assets provides a better understanding of the development of the Roman economy, particularly in the Late Republic. The chapter begins by reviewing the debate over the size of the Republican coin supply and the role Quantity Theory has played in the interpretation of those estimates. It then discusses the theory of money demand and argues that it provides a better framework with which to evaluate changes in the volume of coinage in circulation. It concludes by applying money demand theory to the Late Republican evidence.

Keywords: ancient money, Roman economy, Late Republic, economic development, coinage, Quantity Theory, money demand,