Licinius I, AE follis, Arles. AD 317. 20 mm, 3.39 g. 

IMP LICINIVS PF AVG, laureate, draped and cuirassed bust right. 
IOVI CONSERVATORI, Jupiter standing left, chlamys across left shoulder, holding thunderbolt and sceptre.

R-S across fields. 
Mintmark TARL. 

RIC VII Arles 123; Sear 15201. 

Rare, rated R4.

With permission of Roma Numismatics E-Sale 24, Lot 672, Jan 2016.