Watch List notes:

Valerius Valens, 316-317. Follis (Bronze, 19mm, 2.85 g 12), Alexandria, first officina. IMP C AVR VAL VALENS P F AVG Laureate head of Valens to right. Rev. IOVI CONSERVATORI / ALE Jupiter, nude but for cloak over his shoulders, standing left, holding Victory on globe in his right hand and long scepter in his left; at his feet to left, eagle standing left with wreath in his beak, turning his head back to right; above eagle's head, K; in field to right, wreath over X over A. RIC VII, p. 706, 19. Extremely rare. Rough, glossy dark surfaces as found after the removal of dirt encrustations. Good very fine.


From a European collection.

After Licinius was defeated by Constantine in 316 at the battle of Cibalae (in present-day Croatia) Licinius elevated Valens, one of his generals who had been responsible for the Dacian frontier, to the position of Augustus. This enraged Constantine with the result that after he established a peace treaty with Licinius, in which three of their sons became Caesar, Valens was not only deposed but executed on the orders of Licinius. Valens' coinage, which was not very abundant to begin with (it is only known from the mints of Cyzicus and Alexandria), was recalled and melted down after his deposition, thus explaining its great rarity today.