Watch List notes:

The Roman Empire

Septimius Severus, 193 – 211. Aureus 201, AV 7.24 g. SEVERVS PIVS AVG – P M TR P VIIII Laureate head of Septimius Severus r. Rev. AETERNIT IMPERI Confronted busts of Caracalla, l., laureate, draped and cuirassed and Geta, r., bare-headed, draped and cuirassed. C 4 var. (omits P M TR P). BMC 254. RIC 174. Calicó 2602.
Very rare. Three wonderful portraits of fine style, minor edge marks,
possibly traces of mounting, otherwise about extremely fine

Ex Busso Peus 333, 1992, 824; Busso Peus 337, 1993, 435; Schweizerischer Bankverein 35, 1994, 156 and Triton VI, 2003, 126 sales.
This aureus of Septimius Severus is really the companion piece and model for the dynastic medallion of Constantine the Great that also appears in this sale. It belongs to a larger Severan dynastic coinage series struck in gold, silver, and bronze in A.D. 201 to advertise the (supposed) end of civil war and the establishment of a stable imperial family in Rome. Here, a superb portrait of Septimius Severus graces the obverse, complete with his trademark Serapis curls (adopted after his tour of Egypt in AD 199-200), while the reverse depicts his two sons, Antoninus (popularly known as Caracalla after a type of Gallic tunic that he habitually wore on campaign) and Geta.
The depiction of the emperor and his two sons was intended to illustrate that when Severus died there would be a smooth transition of power to Caracalla and Geta, not the bloody free-for-all that had broken out when Commodus was assassinated without any designated heir. The reverse legend AETERNIT IMPERI ("Eternity of [Roman] Rule") associated with the portraits of Severus' sons implies the expected long continuation of the Severan house as the source of legitimate emperors. Indeed, Severus also made this clear in his public policy. He had appointed Caracalla as joint Augustus with him already in AD 198 while Geta held the lesser title of Caesar. The eternal quality of the dynasty was planned for in advance with Caracalla to succeed his father and with Geta to succeed his brother.
The disparity of power between Caracalla and Geta became a source of jealousy that divided the brothers. After more than a decade of discord, Severus finally gave in to Geta's demands for equal authority and appointed him Augustus as well in AD 209. This only made matters worse because just as Geta had envied Caracalla's power, now Caracalla resented sharing it with his younger brother. The two came to hate each other and when Severus died in AD 211, they were completely incapable of sharing power. Before the year was over Caracalla murdered Geta and ruled as sole Augustus. The stable happy family of the coins was really only the stuff of Severus' dreams and propaganda machine.