Watch List notes:

Licinius II (son of Licinius I), as Caesar, Æ Nummus. Heraclea, AD 321-324. D N VAL LICIN LICINIVS NOB C, helmeted and cuirassed bust left, holding spear over shoulder, shield on left arm / IOVI CONSERVATORI, Jupiter standing left, holding Victory on globe and eagle-tipped sceptre; eagle at feet left, bound captive to right; XIIΓ in right field, SMHB in exergue. RIC 54 var. (bust type). 2.87g, 20mm, 12h.

Good Very Fine.

Ex Roma Numismatics Ltd., E-Sale 45, 5 May 2018, lot 721.