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The Roman or Latin numerals for 1776 and 223 are MDCCLXXVI and CCXXIII respectively. Therefore in accordance with today's rules governing the Roman numeral system they add up to MCMXCIX (1999).

But during the Roman era these numerals would have been calculated on an abacus counting device as:-

MDCCLXXVI + CCXXIII = MDCCCCLXXXXVIIII and probably have been simplified to IMM (-1+2000 = 1999) in written form.

The reason why MCMXCIX is chosen instead of IMM is presumably to make it easier to convert them into Hindu-Arabic numerals and vice versa.

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