Licinius II AE follis of Thessalonica, AE follis, 3.14 g. AD 317-324. 18.6mm. 2.8 g.

LICINIVS IVN NOB CAES, laureate, draped and cuirassed bust left
VIRTVS-EXERCIT, VIRTVS-EXERCIT, standard inscribed VOT XX with two bound captives at its base. 

S-F across fields.
Mintmark dot TS dot A dot.

RIC VII Thessalonica 79; Sear 15475. 
Scarce.

With permission of Eidmar auction 3, lot 649 (on biddr.com), March 2024.