Watch List notes:

Licinius I BI Nummus. Heraclea, AD 312. IMP C VAL LICIN LICINIVS P F AVG, laureate head to right / IOVI CONSERVATORI AVGG, Jupiter standing to left, chlamys across shoulder, holding Victory on globe and leaning on sceptre; at feet, eagle standing to left, head to right, with wreath in beak; Δ in right field, SMHT in exergue. RIC VI 73. 4.09g, 22mm, 6h.

Mint State; wonderfully detailed.

From the collection of a Romanophile;
Ex Roma Numismatics Ltd., E-Sale 76, 5 November 2020, lot 1230.