OBV: IMP C VAL LICIN LICINIVS P F AVG, Radiate bust, right REV: IOVI CONSERVATORI, Jupiter standing left, holding Victory on globe and eagle-tipped sceptre, eagle at feet to right, sitting captive to right. X IIΓ in the right field Mintmark SMAL followed by officina A (1) in exerge Alexandria 318-324AD ----- I recently picked up Sear's Roman Coins and their Values volume IV and enjoyed the interesting comments Sear had regarding this issue: “It has been suggested that the curious numerical formula on the reverse indicates a revaluation of the follis from 25 to 12 ½ denarii (Carson: “Coins of the Roman Empire” p167). Also the remarkable adoption of the radiate imperial portrait on these folles may be connected with Licinius’ devotion to the sun-god Sol Invictus at a time when the survival of paganism was being threatened by the religious policy of Licinius’ western colleague Constantine.” I believe I have seen references to the X IIΓ mark previously here but do not recall if revaluation theory was agreed? Perhaps the radiate crown is more of a reference to this value change than Sol Invictus?.. as it was on the much earlier dupondius? That said I am only learning here and do not have enough knowledge of the coins of this era to really theorize. Any comments are appreciated.