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The Economic Cricis in the Bospor Kingdom, III century BC.

Student: Gorskaia Elena

Supervisor: Adrian A. Selin

Faculty: School of Arts and Humanities

Educational Programme: History (Bachelor)

Final Grade: 8

Year of Graduation: 2020

This paper focuses on the crisis of the Bosporan Kingdom that took place in the 3rd century BC and shows its economical nature. Coins’ recapitulation made on regular basis during the 4th century BC shows the lack of money supply in the domestic market. Rising of the Bosporan Kingdom’s income hided the monetary inflation caused by coins’ value changes. The mentioned economic feature remained unnoticed till the end of 4th century BC. Conditions both internal and external changed and reproduction of the procedure that became routine could not stop the coming crisis. We can see economical system that responds to a regular shortage of funds with recoining and extra superscription of the coins. But the conquest of the territories carried out by king Leucon I covered the inflation, there were major trade cities taken. Wars waged by king Perisades I were against barbarian hordes and could not make a profit. The period of described economical feature’s effectiveness was cut because of the mentioned reasons. Finally, the recoining made just before the crisis could not work because of state revenue shortage and distress inflation caused by previous economic measure. The 3rd century BC crisis was a direct consequence of the economic strategy by the Bosporan Kingdom’s rulers during the 4th century BC.

Full text (added May 24, 2020)

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