Licinius I, 308-324. Follis (Bronze, 18 mm, 2.82 g, 12 h), Rome, circa 320. IMP LIC-INIVS AVG Laureate, helmeted and cuirassed bust of Licinius I to right. Rev. ROMAE A-ETERNAE / P - R / R P Roma seated right, inscribing with her right hand shield set on her left knee with X/V in two lines; at her side, shield. RIC -. Extremely rare, one of only two known examples, and with a spectacular portrait. Good very fine.


This exceedingly rare type is known from just two examples, both of which reside in the Ramskold Collection. The two coins share the same unusual obverse die, showing Licinius in a laureate helmet, bust type D6 (throughout all 'P R / R P' emissions, there are only two other dies showing Licinius in a laureate helmet). The helmet, composed of five bejeweled bands, is also most unusual. The explanation for this rarity may be that the wreath was a victory symbol, and that, although relations between Constantine and Licinius were relatively stable at the time, the authorities preferred to reserve this victorious type for Constantine, the western emperor who had 'liberated' Rome from Maxentius seven years earlier.