How the ancient Romans managed their wealth (it wasn't just by hiding hoards)
Live Science • • business
Key Points:
- In ancient Greece and Rome, investing in precious metals like gold and silver was common, serving as a store of wealth and protection against currency fluctuations, though these metals could experience price volatility due to events like gold rushes.
- Agricultural commodities such as grain, olive oil, and wine were popular investments, with farmland ownership providing a steady income stream, considered safer and more stable than precious metals by figures like the Roman statesman Cato.
- Wealthy individuals stored precious metals in bullion or jewelry form, often secured in vaults, and sometimes lent gold to others, while art and other luxury goods were also traded for profit, exemplified by the auction of Corinthian artworks after Rome's conquest.
- Political instability and imperial policies could impact commodity prices
