Watch List notes:

Honorius AV Solidus. Mediolanum, AD 394-395. D N HONORIVS P F AVG, pearl-diademed, draped and cuirassed bust right / VICTORIA AVGGG, Emperor standing right, holding labarum and Victory on globe, treading on captive to right; M-D across fields, COMOB in exergue. RIC IX 35c = RIC X 1206a; Depeyrot 16/2. 4.46g, 21mm, 6h.

Mint State; lustrous and with excellent detail.

From the inventory of a German dealer.