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32 PROCEEDINGS OF THEcoin that has been mentioned tends to support this view, itbeing of good silver and struck under Carausius. This coin isin fine condition and of the interesting EXPECTATE YENItype. Mr. Grueber suggests that the figure welcoming theemperor is not, as commonly described, that of Britain, butrather of Fides Militum. The object she holds is a vexillum,and not a trident, and the two figuresclosely accord with thoseon one of the silver coins of Carausius with the legend,FIDE. MI.AV. in my own collection.The interpretation of the exergual letters R S R has long beena puzzle to numismatists.They occur on the great majority ofthe silver coins of Carausius, but also on a certain number of hiscopper coins.These, however, are in the main of the same typesas those in silver, so that it is possible that they were originallyplated. The letters have usually been regarded as in somemanner denoting the place of mintage, which was in all probabilityRutupiae. or Richborough, and Mr. Grueber suggestsRutupiae Stativa, or Static Romana, as their extended form.I am tempted to hazard another interpretation. Mr. Grueberhas pointed out that the issue of these coins of comparativelyfine silver was an absolute anomaly, as in no other partof theRoman Empire were coins of the same standard of metal ordenomination that of the old Roman denarius at that timestruck. It is probable, therefore, that the coins of this new issuehad some distinctive name or designation.Now, perhaps the mostcommon of all the types of these denarii is the wolf and twins,with the legendin various more or less contracted or invertedforms, ROMANORVM RENOVATIO. Can this be held to referto the renewal of the old Roman coinage ;denarius by anyand if so, was the newchance known as the Romanus ? In thetwelfth century we find certain gold coins known as Romanati,and if eight centuries earlier a similar habit of thought prevailed,the letters R.S.R. may signify (nummus) RomanusSignatus Rutupiis. This conjecture must be taken for whatit is worth, but all who study Mr. Grueber's paper will feel