Watch List notes:

AV Medallion n.d, CONSTANTINUS I 307–337 AD Uniface. Trier? Helmeted and cuirassed bust left holding shield and carrying spear on shoulder IMP CONSTANTINVS PF AVG.Münsterberg NZ 56, 1923, p.25, Depeyrot, 1996, p.165, 1-2; cf. Bland 2012, pp 217 - 225.Gold 'medallions' based on the Solidus are well-known for Constantine the Great. They were probably issued as a gift to high-ranking officials, and as the large number of mounted pieces shows, were often used as jewelry. But perhaps more interesting are the uniface varieties of Constantinian gold medals. Almost all of them were used as decoration by either a mounted loop or piercing, their weight holds no relation to the weight standard of the Solidus and going by the fine style must have been produced at official mints. Strangely enough many of these uniface medallions are found in the frontier regions of the Empire such as Britain, Germania, or Thrace. There are some theories to explain the distribution of the finds; some have suggested they functioned as military decorations, others suspect that they might have been subsidies to barbarian tribes. The latter theory is supported by the surprising quantity found beyond the borders of the Empire.

This specimen is conform to the type as described by Bland 2012, being struck in fine style and originally mounted (although the loop is removed from this medallion). While it likely never circulated as a coin it is nonetheless a piece of large numismatic and even greater historical value.

Ex. Schulman Vault Collection.3.34 g. Mount removed. NGC AU. Strike 5 out of 5; Surface 2 out of 5