Licinius I. AD 308-324. Æ Follis 19mm, 3.45 g. Alexandria

Licinius I. AD 308-324. Æ Follis 19mm, 3.45 g. Alexandria mint. Struck AD 321-324. Radiate, draped, and cuirassed bust right / Jupiter standing left, holding Victory on globe and scepter; at feet to left, eagle standing left, head right, with wreath in beak; to right, bound captive seated right, head left; X/IIΓ//SMALA. RIC VII 28. Good Very Fine, brown patina, earthen deposits.

Licinius I ruled the eastern empire during the Tetrarchy and later co-ruled with Constantine the Great. Initially allied with Constantine, he later opposed him in civil war and was defeated in AD 324. His coins often emphasize Jupiter Conservator, showing resistance to Constantine’s Christian symbolism. His issues are abundant and crucial to understanding the empire’s final pagan decades.