Licinius I, 308-324. Aureus (Gold, 20 mm, 5.28 g, 1 h), Nicomedia, 315. LICINIVS AVGVSTVS Laureate head of Licinius I to right. Rev. VICTORIAE AVGG NN / SMNΔ Victory standing front, half-draped and head to right, inscribing VOT / X / MVLT / XX on shield set on a banded cippus. Calicó -, cf. 5138-9 (differing officinae). Depeyrot -, cf. 19/1 (differing officinae). RIC -, cf. 10 (differing officinae). Very rare, and apparently unpublished from this officina. A bold and impressive coin, very well struck and beautifully centered. Very minor die break on the obverse, otherwise, good extremely fine.

The reverse of this beautiful aureus, which was struck for both Constantine I and Licinius I, is unique to the mint of Nicomedia. It praises the victoriousness of the two Augusti and refers to the decennalia of one of them, presumably those of Constantine, which he celebrated on 25 July 315. However, peace between the two emperors was frail, and Constantine attacked and defeated Licinius for the first time in the following year, forcing his opponent to cede to him all European territories except Thrace