Expanded from the abbreviations, the front says IMPERATOR CAESAR VESPASIANVS AVGVSTVS, PONTIFEX MAXIMVS, TRIBVNICIA POTESTAS, PATER PATRIAE, CONSVL III (check links for Wikipedia pages explaining each function/title). In English it's something like "Emperor Caesar Vespasian Augustus, Head Pontiff, Tribunicial Power, Father of the Fatherland, Three Times Consul".
The "Three Times Consul" thing shows this coin was issued in the year 71 of the common era. Vespasian had nine consulships; the 2nd to 4th were sequential, so if the coin was issued a bit before or after, the number after "COS" would change.
A lot of those existed already in Republican times, but temporary, and assigned to different people, in a system where one keeps the power of another in check. So in a certain sense that alphabet soup shows how the republic died โ gradual erosion of the separation of powers.