Watch List notes:

Licinius I Æ Nummus. Alexandria, AD 321-324. IMP C VAL LICIN LICINIVS P F AVG, radiate, draped and cuirassed bust right / IOVI CONSERVATORI, Jupiter standing left, holding Victory on globe and leaning on sceptre, eagle at left holding wreath in its beak, captive right; X above IIΓ in right field, SMAL•B in exergue. RIC 32. 3.62g, 19mm, 12h.

Extremely Fine. Extremely Rare; only one example cited in RIC.

From a private UK collection.