Watch List notes:

Gratian (367-383), Light Miliarense, Treveri, AD 367-375; AR (g 4,32; mm 25; h 12); D N GRATIA - NVS P F AVG, diademed, draped and cuirassed bust r., Rv. VIRTVS - EXERCITVS, emperor standing facing, head l., holding standard in r. hand and resting l. on shield; in ex. TRPS°. RIC 26e.
Scarce. Cabinet tone, large flan, about extremely fine.

Estimate: 2000 GBP