Licinius I, AE follis of Arles, AD 320. 

IMP LICIN-IVS PF AVG, laureate head right.
LICINI AVG around VO-TIS-XX in three lines.

Mintmark S dot A.

RIC VII Arles 218; Sear 15351.
Rare, rated R4

With permission of Harlan J. Berk, Ltd. Buy or Bid Sale 188, Lot 313, Dec. 2013.