Watch List notes:

Licinius II (son of Licinius I), as Caesar, BI Nummus. Ticinum, AD 319-320. LICINIVS IVN NOB C, laureate, draped and cuirassed bust to right / VIRTVS EXERCIT, two captives seated at foot of a banner inscribed VOT XX; Chi-Rho - crescent across fields, ST in exergue. Unpublished; cf. RIC VII 120 (no crescent); cf. cgb.fr MB 55, 329 (different bust type, same rev. die). 3.34g, 19mm, 6h.

Near Extremely Fine. Extremely Rare; not in RIC, no examples on CoinArchives.

From a private European collection.