★ Scarce abdication issue ★

LONDON TETRARCHIC: Diocletian (284-305), AE follis, Abdication issue 305-307. London, 8.20g, 27mm. Scarce.
Obv: D N DIOCLETIANO FELICISSIMO SEN AVG; Laureate bust in Imperial mantle holding mappa in right hand and olive branch in left hand.
Rev: PROVIDENTIA DEORVM QVIESS AVGG; Providentia standing left, and extending hand to personification of Quies, standing right, holding olive branch and leaning on sceptre.
RIC VI 77A (London); CT (Cloke & Toone) 4.01.002
From the James Pickering Romano-Britannic Collection (please see lot 122 for details).
The historically important abdication folles are scarce from the London mint.

The imperial system instituted by Augustus was marred by periodic struggles for the succession, which descended into total chaos in the third century. Part of Diocletian's plan for the tetrarchy was to provide for smooth transitions of power from the Augusti to the Caesars, but his hopes were to be dashed. First, Maximianus resigned his position only reluctantly. Second, Galerius manipulated a weakened Diocletian to arrange for the appointment of his hand-picked men as the new Caesars (Maximinus II Daia in the east and Severus II in the west), in opposition to the expected choices of Maxentius and Constantine, the sons of Maximianus and Constantius respectively. This decision rankled in London where the new Caesars received scant attention on the coinage. The already fragile situation completely disintegrated when Constantius died in York in July 306 and his troops proclaimed Constantine Augustus, in opposition to Severus. While an agreement was reached with Galerius to accept Constantine's status as Caesar, the resentment of Maxentius manifested in full revolt, with the aid of his father who came out of retirement. Full scale civil war ensued, and the dust didn’t settle until 324 when Constantine, after having vanquished all comers, emerged as sole emperor.