Watch List notes:

The Roman Empire
Septimius Severus, 193 – 211

Denarius 204, AR 3.46 g. SEVERVS – PIVS AVG Laureate head r. Rev. COS – III P P Triumphal arch of Severus, showing four columns surmounted by chariot of six horses; on either side, horseman. C 104. BMC 320. RIC 259. Very rare. Obverse from a worn die, otherwise about extremely fine

Ex Gorny & Mosch sale 204, 2012, 2314.