Honorius, 393-423. Solidus (Gold, 21 mm, 4.40 g, 12 h), Sirmium, Constantinopolis or uncertain eastern mint, 402-408. D N HONORI-VS P F AVG Pearl-diademed, draped and cuirassed bust of Honorius to right. Rev. VICTORIA AVGGG S / S - M / COMOB Arcadius standing front, head to right, holding labarum in his right hand and Victory on globe in his left and placing his left foot on captive lying to left. Depeyrot 34/3 (Sirmium). RIC 14d.4. Slightly clipped, wavy flan and slight doubling on the reverse, otherwise, good very fine.
The attribution of the S M / COMOB solidi of Theodosius I, Arcadius, and Honorius is one of the great puzzles of late Roman numismatics. In the literature, they are often assigned to Sirmium - with S M interpreted as an abbreviation for Sirmium - but much speaks against this attribution (cf. RIC X, p. 36). The coins were probably struck instead at Constantinople or at an otherwise unknown military mint.