Watch List notes:

Licinius II, Caesar, 317-324. Follis (Bronze, 20 mm, 2.93 g, 12 h), Cyzicus, Δ = 4th officina, 321-324. D N VAL LICIN LICINIVS NOB C Helmeted and cuirassed bust of Licinius II to left, holding in right hand spear over far shoulder and shield on left arm. Rev. IOVI CONS-ERVATORI / X/IIΓ/SMKΔ Jupiter standing left, holding Victory in right hand and scepter in left; at feet to left, eagle standing left, head right, holding wreath in beak; to right, bound captive seated right, head turned to look back. RIC 18. Black patina. Nearly extremely fine.