Watch List notes:

Gratian Æ Nummus. Nicomedia, AD 367-375. D N GRATIANVS P F AVG, helmeted, pearl-diademed, draped and cuirassed bust right, holding spear and shield / GLORIA ROMANORVM, Emperor standing facing on ship, head right, with extended right arm; Victory seated at the helm, wreath in left field, SMNA in exergue. RIC 25a. 5.35g, 23mm, 6h.

Very Fine. Well detailed reverse.