Valerian I, 253-260. Antoninianus (Silver, 24 mm, 4.39 g, 5 h), Rome, autumn 256. IMP C P LIC VALERIANVS P F AVG Radiate, draped and cuirassed bust of Valerian I to right. Rev. LIBERALITAS AVGG Valerian I and Gallienus, laureate and togate, seated left on curule chairs, extending their right hands and holding short scepters in their left; in the background between them, Valerian II Caesar standing left. Cohen 115. Eauze 1157. MIR 68c (nine examples recorded). RIC 102 corr. (bust type and reverse description). Very rare and with a very interesting dynastic reverse type. Minor areas of weakness and with very light deposits, otherwise, extremely fine.



On this unusual and very rare reverse, a third, smaller figure appears in the background between the two Augusti, shown seated left on curule chairs in togas. As Schaad rightly noted in his publication on the Eauze Hoard, this figure is Valerian II. He associated the issue with the renewal of the tribunician power of Valerian I and Gallienus on 10 December 255. In all likelihood, however, the coins were struck on the occasion of Valerian II’s elevation to the rank of Caesar in the autumn of 256, as is shown by parallel pieces of the same type bearing the dated legend LIBERALITAS III AVGG. The type thus presented the Valerian dynasty to the army and the wider public as a hierarchy spanning three generations: Valerian I in the foreground as senior Augustus, behind him his son Gallienus, and in the background his grandson, the young prince Valerian II.