Watch List notes:

Theodosius I. AD 379-395. Æ (22mm, 6.01 g, 5h). Nicomedia mint. Struck AD 379- on. Pearl-and-rosette-diademed, helmeted, draped, and cuirassed bust right, holding spear and shield / GLORIA RO-MANORVM; Gratian standing left in galley left, head right, raising hand; to right, Victory steering galley; SMNA. RIC IX 25c1. VF, earthen black patina, some cleaning scratches.

From the Ken Bressett Collection. Ex David Vagi 2002 @ $40.