Watch List notes:

Constantine I, 307/310-337. Follis (Bronze, 15 mm, 2.84 g, 12 h), a contemporary imitation of a VIRTVS EXERCIT issue of Constantine I, probably from Siscia. [...]_IOIIOIIO Laureate head of Constantine I to right. Rev. VIR[...] Inscribed vexillum between two captives. Cf. RIC 127 (for reverse prototype). An attractive example with lovely patina. Good very fine.