Аннотация:Summary. The results of the chemical analysis of 78 silver denarii issued by the Julio‐Claudian emperors are presented and interpreted against the available numismatic, archaeological and historical information. Earlier surface analyses are found to be incorrect, especially for the coinage of Nero, and the reasons for this are investigated. The new elemental data are augmented by a subset of coins being subjected to lead isotope analysis and the results of this are found to complement these data in unexpected ways.