Watch List notes:

Licinius I. AD 308-324. Æ Follis (18.5mm, 2.91 g, 6h). Arelate (Arles) mint, 2nd officina. Struck AD 321. Laureate head right / VOT XX in laurel wreath; SA. RIC VII 218; Ferrando 691. Brown patina, minor roughness on the reverse. Good VF. Rare, much finer than the Ferrando specimen.

From the DFA Collection.