Watch List notes:

ROMAN EMPIRE. Severus Alexander, 222-235. Bimetallic medallion 224, Roma. Second Liberalitas issue. Obv. IMP CAES M AVREL SEV ALEXANDER AVG. Laureate, draped and cuirassed bust to right. Rev. LIBERALITAS AVGVSTI II. On platform, Severus Alexander seated left; before him to left, Liberalitas standing to left, holding abacus and cornucopiae; behind him to right, Praetorian praefect and soldier standing front but with their heads to left; at the side of the platform, six citizens standing left; to left, before platform, citizen mounting the platform steps, holding a circular basket. Gnecchi II, 98, 8-9. BR. 53.48 g. RRR XF-AU slightly smoothed.
Ex. Molard Coll.; Ex. Nomos auction 15, 22 october 2017, lot 275; Ex. Hess-Divo auction 339, 22 October 2020, lot 122.
This medallion was issued for the second Liberalitas. The liberalitas ceremony was an official act designed to show the Emperor's care for his people.