Watch List notes:

Licinius II, as Caesar, BI Nummus. Heraclea, AD 321-324. D N VAL LICIN LICINIVS NOB C, helmeted and cuirassed bust to left, holding spear and shield / IOVI CONSERVATORI, Jupiter standing to left, holding Victory on globe and eagle-tipped sceptre; at feet to left, eagle holding wreath in beak; at feet to right, captive seated to right, head reverted; X over IIΓ in right field, SMHB in exergue. RIC VII 54. 3.37g, 19mm, 11h.

Near Extremely Fine.

From the Terner Collection.