Marcus Aurelius Antoninus, nicknamed Caracalla, the elder son of Septimius Severus and Julia Domna, was originally known as Lucius Septimius Bassianus, renamed Marcus Aurelius Antoninus when he was made Caesar in AD 196. Two years later he advanced to the rank of Augustus. The nickname Caracalla was not used officially and derived from the hooded Gallic cloak made fashionable by him. When Septimius died sibling rivalry between the joint rulers, Caracalla and his younger brother Geta, escalated. Caracalla had Geta murdered in AD 211. The following year he bestowed Roman citizenship on all free residents in the empire. By AD 213, in the aftermath of the Germanic war, the obverse legend for Caracalla changed to ANTONINUS PIVS AVG GERM. The emperor departed on his campaign against Parthia in AD 214.

Under Caracalla's reign a new silver coin denomination appeared in AD 215. The antoninianus, named after Antoninus, Caracalla's official name on coinage, was originally tariffed at two denarii, but weighed only one and a half. As debasement continued in the following years antoniniani varied in size. Obverse portraits of antoniniani are distinguished from denarii by displaying emperors wearing a radiate crown, whereas in the case of empresses, a crescent is depicted beneath the bust.

Over the years Caracalla became increasingly obsessed with Alexander the Great, and in AD 216, after campaigning through Asia and Syria, he arrived at Alexandria. As the unpopular emperor did not receive a hearty welcome, he had the governor and rioting citizens executed. The following year, on his return from a visit to the temple of moon-god at Carrhae, Caracalla was assassinated, allegedly at the instigation of Macrinus who succeeded him as emperor.

Obv. Caracalla laureate head right, ANTONINVS PIVS AVG GERM.
Rev. Venus standing left, holding Victoriola and sceptre, shield and helmet on the ground, VENVS VICTRICI.