The truth obviously lies in Eckhel’s theory, which has been rejected by Stobbe because it is so simple and obvious, namely, that Antonine renewed both consular and tribunician powers on the same day, 1st January, a contention which the Fasti Romani amply corroborate. Naturally, as we know from Dion, the first year began on 8th June, when Antonine’s name was substituted for that of Macrinus. On 1st January 219 Antonine took his second Consulship and second tribunician powers. On 1st January 220 the Emperor became Consul for the third time, Tribune of the People third time. On 1st January 221 Gratus and Seleucus were Consuls, Antonine Tribune of the People fourth time; 1st January 222 Antonine and Alexander Coss. IIII and I, Antonine Tribune of the People fifth time. All is duly set out on the coins in regular order. The basis for other theories was found by fertile brains when Cohen listed a few irregularities in the dating, notably three coins dated T.P. Cos. II, which just inverted Valsecchius’ theory, and, said Stobbe, showed that the Emperor had renewed his Consulate on 1st January, and had not yet renewed his powers as Tribune of the People. It was undoubtedly plausible, but Stobbe omitted to notice another coin whose date is T.P. Cos. IIII, which, on his own theory of the number invariably affixed to T.P. as well as to Cos., would signify that the Emperor had never renewed his tribunician powers at all, or else had renewed his consular powers four times in one year, both of which ideas are demonstrably absurd. Along with his supposition that the number would always be affixed to T.P. whenever it also followed Cos., Stobbe formulated another theory partly based on the idea which had been enunciated by Pagi concerning the date of the coins marked T.P. V Cos. IIII, and supported his contention from an example listed by Cohen as T.P. IIII, Cos. IIII. It was to the effect that as the Emperors Septimius Severus, Caracalla, Geta, and Alexander Severus had renewed their tribunician powers about the middle of January, Antonine had done the same, and that the paucity of the coins marked T.P. V Cos. IIII is due to the fact that he was murdered very shortly after, if not before the issue was completed, and the tribunicial renewal had taken place. Stobbe’s proof lay in the fact that Cohen had listed these three coins as above (T.P. IIII Cos. IIII), which, this critic affirmed, were issued after January 1st and before the tribunicial renewal,—about the middle of the month. [Illustration: Coin of A.D. 220, misread by Cohen as T.P. III Cos. IIII (British Museum). Coin of A.D. 221, misread by Cohen as T.P. IIII Cos. IIII (British Museum). Coin of A.D. 222 (British Museum). _Face page 196._]