This denarius struck near the end of the triumvirate, is still typically Republican in character. The reverse depicts Octavian (the future emperor Augustus) as liberator and restorer of the res publica. He is portrayed with a bare head and a slight beard. According to Dio, Octavian did not shave before the age of twenty-five. However, the slight beard could also be an indication of Octavian in mourning, as depicted on some Octavian and Divus Julius coins of 38 BC. Roman coinage from this period onwards reflects the transition from Republic to Empire.
Rev. Bare head of Octavian right with a slight beard. The legend reads: CAESAR IMP. PONT. IIIVIR. R. P. C. (Caesar, imperator, pontifex, triumvir reipublicae constituendae - Caesar, saluted imperator, high-priest, member of the triumvirate who restored the Roman Republic).