Watch List notes:

Licinius I BI Nummus. Nicomedia, AD 311. IMP C VAL LICIN LICINIVS P F AVG, laureate head right / VIRTVTI EXERCITVS, Mars advancing right, holding spear, shield and trophy over shoulder; Γ in right field, SMN in exergue. RIC 70a. 5.99g, 24mm, 12h.

Extremely Fine; wonderful detail.

From a private European collection.