Watch List notes:

Licinius I. A.D. 308-324. AE reduced follis (20.0 mm, 3.04 g, 11 h). Aquileia mint, struck A.D. 317. IMP LICINIVS PF AVG, laureate and cuirassed bust of Licinius I right / IOVI CONSERVATORI, Jupiter, standing left, holding scepter and thunderbolt; AQS in exergue. RIC 7. VF, black patina with red highlights. Scarce.

Ex Agora Auctions.