The term originated from the Greek words for gold (χρυσός) and silver (ἄργυρος), which initially were the required forms of payment.
The ecclesiastical historian Evagrius says that Constantine found the tax already established in the Eastern Empire, and considered abolishing it.
Libanius, Zosimus and Evagrius list examples of the hardships caused by this tax, probably because it was collected in one lump sum every four years.
The tax was abolished by Anastasius I throughout the Eastern Roman Empire in the year 498 as part of his fiscal and monetary reforms.
The Emperor Anastasius compensated for this lost revenue by placing income earned from certain estates into a separate fund.