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 sceptre; to left, eagle standing left, head right, holding wreath in its beak; to right, captive seated right; X above IIΓ in right field, SMAL[•]B in exergue. RIC 32. 2.68g, 20mm, 11h.

Very Fine. Extremely Rare.

From a private North American collection.