Maximianus, first reign, 286-305. Aureus (Gold, 19 mm, 5.22 g, 6 h), Aquileia, 303. MAXIMIANVS - AVGVSTVS Laureate head of Maximianus to right. Rev. XX / MAXI/MIAN/I AVG / SMAQ within laurel wreath. Calicó 4766. Depeyrot 4/4 corr. (obverse legend break). Paolucci & Zub 26. RIC 13. Extremely rare. An exceptional piece, boldly struck, lustrous, and with a remarkably attractive portrait. A few tiny marks on the obverse, otherwise, good extremely fine.



On 20 November 303, Diocletian and Maximianus celebrated their vicennalia, marking the twentieth anniversary of their accession to power. This significant milestone was widely commemorated throughout the empire, both on coins such as this beautiful aureus and in imperial architecture, including the Five-Columns Monument in the Forum Romanum in Rome. It was likely on this occasion that Diocletian secured Maximian’s promise to retire with him as part of the new tetrarchic system. This system aimed to replace the two Augusti with two Caesares every twenty years to prevent civil wars and dynastic rule. Maximianus complied, albeit reluctantly, and retired alongside Diocletian on 1 May 305, passing the leadership to Galerius and Constantius I, respectively. However, with Constantius I’s early death in the summer of 306 and the subsequent elevation of his son Constantine to Augustus, Diocletian’s tetrarchic system soon faced a crisis. Despite efforts to restrain the ambitious Constantine, he ultimately became the sole Augustus after his decisive victory over Licinius I in 324.