Follis of Licinius I

The follis of Licinius I is a base-metal Roman coin struck during the reign of the emperor Valerius Licinianus Licinius (AD 308-324), the eastern colleague and eventual rival of Constantine the Great. The follis was the standard bronze denomination of the age, introduced by Diocletian's reform of the coinage, though by the date of this piece it had shrunk to a small, light coin sometimes catalogued by collectors as a nummus or AE3.

The obverse observed on this coin shows the portrait of Licinius I facing right, surrounded by a Latin legend naming the emperor. The reverse carries a standing figure, most likely a deity or divine personification identified by its attributes and the accompanying legend. For the period around AD 320-321 the common reverse for Licinius is Jupiter, his protector, shown standing with Victory, a sceptre, and an eagle.

Struck across the eastern mints that Licinius controlled, these small bronzes survive in large numbers and are among the more accessible coins of the Constantinian era for collectors today.

Licinius rose to power in AD 308, appointed Augustus of the West by Galerius as the Tetrarchic system of shared rule was breaking apart. He soon came to control the eastern provinces and, after defeating the emperor Maximinus II in AD 313, ruled the entire eastern half of the empire alongside Constantine I in the West.

The two emperors held an uneasy partnership for a decade, marked by intermittent conflict and rival propaganda. Around AD 320-321, the date of this coin, Licinius was still a legitimate Augustus striking coinage in his own name and that of his son Licinius II. He remained a defender of the traditional gods, and his coinage continued to invoke Jupiter as his divine protector even as Constantine increasingly favoured Christian and solar imagery. The rivalry ended in open war: Licinius was defeated at Adrianople and Chrysopolis in AD 324, deposed, and executed the following year.

The follis by this time had been reduced far from the large coin of Diocletian's original reform. Repeated reductions in size and weight over the early fourth century left a small bronze piece, still the everyday circulating denomination, produced in enormous quantities at mints throughout the eastern empire.

The key to attribution is the obverse legend, which names the emperor. On this coin the obverse shows the portrait of Licinius I facing right, usually laureate or with a radiate or cuirassed bust depending on the issue, within a legend such as IMP LICINIVS AVG or IMP LIC LICINIVS P F AVG. The name LICINIVS is the decisive element; take care to distinguish the father, Licinius I, from his son Licinius II (Caesar), whose coins carry a similar name but a youthful bust and junior titles.

The reverse carries a standing figure whose identity is fixed by its attributes and legend. For Licinius around AD 320-321 the most common type is Jupiter, legend IOVI CONSERVATORI, shown standing with a small Victory on a globe in one hand and a sceptre in the other, often with an eagle and sometimes a captive at his feet. Other reverses of the reign include military and vota types. Matching the figure and its attributes to the surrounding legend is how a specific type is attributed.

In hand the coin is small, roughly 18-20 mm across and about 2.5-3.5 grams, struck in bronze with a brown or green patina; some retain traces of the original silvery surface wash. Look in the reverse field and exergue for officina letters and a mint mark such as SMN (Nicomedia), SMK (Cyzicus), SMH (Heraclea), SMANT (Antioch), or TS (Thessalonica), which place the coin to a specific mint and workshop.

Folles of Licinius I are common and generally inexpensive, reflecting the very large quantities struck across the eastern mints. Well-worn or ordinary examples frequently trade in the low tens of dollars, while sharp coins with clear portraits, complete legends, and attractive patina bring higher figures.

Value is driven by the strength of the strike, the completeness of the legends, surviving surface silvering, the rarity of the particular reverse type and mint, and overall eye appeal. Scarcer reverse legends, unusual bust types, and coins from less common mints can command premiums above the ordinary run, and pieces securely attributed to Licinius I rather than his son may be preferred by collectors.

The figures here are general context, not appraisals; condition, type, and provenance can move an individual coin outside these ranges. Specialist attribution to a specific mint, officina, and reverse variety adds interest for a well-preserved example.