Watch List notes:

Licinius I BI Nummus. Alexandria, AD 317-320. IMP C VAL LICIN LICINIVS P F AVG, radiate, draped and cuirassed bust to right / IOVI CONSERVATORI, Jupiter standing to left, holding Victory on globe and leaning on sceptre, eagle with wreath in beak at feet to left, captive to right; XIIΓ in right field, SMALB in exergue. RIC VII 28. 3.28g, 19mm, 12h.

Good Very Fine.

From a private European collection.