The reference used for this coin is Roman Republican Coinage by Michael Crawford.

The Romans realized that in order to simplify commerce with other Italian and non-Italian states it was necessary to have a more convenient coinage comprising silver denominations and struck bronzes. Accordingly, they introduced various silver denominations and after the Second Punic War (at the close of the third century B. C.), a new lighter coin called the denarius was brought into being. Showing the Family name first, (prominent families were allowed to strike coinage under private treaty), then the moneyers’ name identifies these coins. The type and series of coinage continued until the adoption of the Roman Imperial system beginning with Augustus in B. C. 27. After the death of Julius Caesar on the Ides (15th) of March in B. C. 44, Augustus became one of the second triumvirate (the government of three joint officers or magistrates). The triumvirs later fell out and Augustus (known then as Octavian) defeated Antony (Marc Antony) at Actium. He became sole ruler of the empire in B. C. 31, received the title Emperor in B. C. 29, and that of Augustus in B. C. 27.

A Roman legionary (foot soldier) received a payment set at a daily allowance of one third of one denarius. This payment went toward maintenance of his equipment as well as his routine daily expenses. Conversely, the equites (Calvary who provided their own horses) were entitled to one denarius per day, the extra sum providing for the care of their horses.