Watch List notes:

Maximianus Herculius, first reign, 286-305. Argenteus (Silver, 20 mm, 3.08 g, 12 h), Cyzicus, c. 294-295. MAXIMIA-NVS AVG Laureate head of Maximianus Herculius to right. Rev. VICTORI-A SARMATICA The tetrarchs sacrificing before camp with six turrets. RIC 5b var. (as R5), and see note I for the absence of mintmark on RIC 5a in a single example in Vienna. Extremely sharp and bright example, and a great rarity. Flan cracks, otherwise, virtually as struck.
From a Swiss collection, ex Obolos 12, 31 March 2019, 812.