Licinius I, AE follis, Ticinum, AD 317-318.

IMP LICINIVS PF AVG, laureate head right.
IOVI CONS-E-RVATORI, Jupiter standing left, chlamys across left shoulder, holding thunderbolt and sceptre.

P in left field.
Mintmark PT.

RIC VII Ticinum 70; Sear 15202.
Rare, rated R3.

Sold by Jesus Vico S.A., auction 147, Lot 445, March 2017.