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The year 238 AD was particularly hazardous for Roman Emperors. The first to wear the purple that year was Maximinus Thrax, who focused on battling Rome’s enemies and keeping his troops well contented, i.e. well compensated. To bankroll his military exploits, Maximinus leveraged the civilian population through hefty taxes and confiscation of wealth. Not surprisingly, these oppressive policies were not well received, particular among Rome’s elite who had the most to lose. The situation led to a revolt in the Africa province, during which Gordian I, and his son Gordian II, were proclaimed co-Augusti. The Senate confirmed the appointments. Begging to differ, however, the incumbent Augustus collected his troops from the eastern front and marched to Rome.
Within weeks, the African rebellion was quashed by forces from a neighboring province. Despite the Gordians' demise — the 238 AD imperial death-toll registered at two — Maximinus still marched towards Rome, no less interested in punishing the Senate who had betrayed him. Meanwhile back in Rome, nervous Senators formed a committee to organize a defense. Within this group, two were chosen and confirmed as the next co-Augusti: Pupienus and Balbinus (died 238 AD). Why these two elderly men earned the throne is not certain, although both had extensive leadership experience. Perhaps the duo actively sought power, or perhaps they drew short straws. After all, being Emperor was risky business.
Prior to his ascension, Balbinus was already an established politician, having previously held numerous high offices, including two times as consul, one of which he shared with Augustus Caracalla. He was reportedly a great orator and poet. Even so, Balbinus and Pupienus were not particularly well received as Rome’s newest rulers. To improve their image and promote calm, Balbinus and Pupienus named Gordian I’s young grandson as heir (Caesar). Having nominated the young Gordian III, the reign of Balbinus and Pupienus might now be viewed more favorably, in the context of a guardianship. More importantly, with the Gordian’s family wealth added to the imperial coffers, the co-Augusti distributed a cash bonus to the Roman population.
None of this mattered to Maximinus, who kept coming the Senate’s way. Balbinus was deemed more suited to stay and focus governing in Rome, while Pupienus marched out to meet Maximinus. The atmosphere in Rome was tense, and Balbinus had a rough time of it, with riots and fires erupting within the city. The situation temporarily improved when Pupienus returned with news that Maximinus had been eliminated by his own disgruntled troops — the 238 AD Augusti death toll rose to three, and counting.
Like any Emperors trying to drum up support, Balbinus and Pupienus produced coins to advertise their status and promote their accomplishments. Since their reign lasted only three months, coins produced by these co-Augusti are rather scarce. The current coin is an example Balbinus denarius. The obverse is an artistic depiction of Balbinus as Augustus (earning a Fine Style designation by NGC Ancients), in traditional laureate, draped, and cuirassed style. On the reverse stands Victory, holding a wreath and a palm branch, with the epithet VICTORIA AVGG (note the double G to indicate there were two co-Augusti). The victory advertised here presumably is the one over Maximinus.
Temporarily, things remained calm in Rome as everyone soaked in this victory. However, Balbinus felt threatened by Pupienus' success, not to mention his new, burly bodyguards. The latter, mostly soldiers of the German legions previously loyal to Maximinus, also provoked the Praetorian Guard, who viewed them as a threat to their traditional role as the Emperor’s protectorate. Indeed, Pupienus made the case that the new bodyguards should be employed more widely as a precaution against the Praetorians. Balbinus resisted, suspicious of his co-Augustus’ designs to have him disposed. During one argumentative imperial conclave, the Praetorians rushed in and executed the pair before they could call for aid — a new, inglorious record of five slain Emperors had been set, and Gordian III became the sixth person to sit on Rome's throne in 238 AD.
Coin Details: ROMAN EMPIRE, Balbinus, 238 AD, AR Denarius (21 mm, 3.6 g), NGC Grade: Ch AU, Strike: 5/5, Surface: 4/5, Fine Style, Obverse: Laureate, draped, and cuirassed bust right, IMP C D CAEL BALBINVS AVG, Victory standing facing, holding her wreath and palm branch, VICTORIA AVGG, References: RIC 8; RSC 27; BMC 37.