27 B.C. - A.D. 14

OBVERSE
Bare head right, CAESAR AVGVSTVS

REVERSE
SPQR - CL V in two lines on shield

REFERENCES
RIC I 42a (pg. 44); RSC I 294

After having achieved absolute power, as did Caesar before him, Octavian declared the restoration of the Republic. Octavian did not want to lose this power in the same manner as Caesar, so on 13 January 27 BC, he forfeited most of his authority to the Senate and the people of Rome. He kept his position as Consul along with the provinces and legions of Spain, Gaul, Syria and Egypt. Three days later, on 16 January 27 BC, the Senate conferred upon Octavian the title Augustus, which means "sacred" or "revered."

It has been thought that the clipeus virtutis, the golden shield of virtue, was awarded to Octavian/Augustus at the same time. Sydenham continues, however, "that there is no decisive evidence as to the exact date at which the golden shield was conferred, but the coins on which it is represented are of later date than the year BC 27."

The CL V on the reverse of this coin represents the 'CLipeus Virtutis'. The acronym S.P.Q.R. signifies Senatus PopulusQue Romanus, 'the Senate and the Roman people'. Thus, the reverse inscription, S.P.Q.R. CL V signifies the conferrence of the clipeus virtutis by the Senate and the Roman people, in commemoration of Octavian's virtue, piety, justice and clemency.

This marble copy of the Clipeus Virtutis, found in Arles, was made a year after the actual Clipeus was conferred to Augustus. This marble copy can be found in the Musee de l'Arles Antique in Arles, France. The original shield was displayed in the Curia Iulia, and copies were placed throughout the empire. The inscription on this copy reads: