Watch List notes:

Licinius I BI Nummus. Rome, AD 320. IMP LICINIVS AVG, helmeted and cuirassed bust to right / ROMAE AETERNAE, Roma seated to right on shield, holding shield on knees inscribed X V; RЄⲰCS in exergue. RIC VII 196 corr. (Roma seated to left). 3.20g, 20mm, 12h.

Near Extremely Fine. Extremely Rare; seemingly no other examples on CoinArchives, rated R4 by RIC.

From a private UK collection.