Licinius II, AE follis, Ticinum. 319-320 AD.

LICINIVS NOB CAES, laureate, draped bust left, holding
Victory and mappa.
VIRTVS-EXERCIT, two bound captives at the base of a 
vexilium inscribed VOT XX in two lines.
Left field: chi-rho.
Mintmark: ST.

RIC VII Ticinum 118.
Rated R5. Of the highest rarity.

Courtesy of ebay seller "holding history". Dec. 2012.