★ Extremely rare and impressive Multiple of Constantine the Great ★

Constantine I, 307/310-337. Multiple of 1 1/2 Solidi (Gold, 24 mm, 6.63 g, 12 h), Nicomedia, late 324. D N CONSTANTINVS MAX AVG Laureate, draped and cuirassed bust of Constantine to right. Rev. VIRTVS AVG ET - CAESS NN / SMN Constantine standing facing, head to left, resting his right hand on a trophy, with two captives seated beneath, and holding a vexillum in his left. Depeyrot - (cf. 54). Gnecchi -. RIC - (cf. 57, Constantine II). Extremely rare, one of two known specimens. Beautifully toned. Good extremely fine.

Ex Künker 376, 18 October 2022, 5063, Jacquier 48, 18 September 2020, 528 (illustrated on the cover) and Numismatica Ars Classica 92, 23 May 2016, 689 (and most likely with a much older provenance).

This extremely rare gold multiple was almost certainly struck as part of a military donative distributed to reward Constantine's army for the victory over Licinius, his eastern imperial colleague. Constantine and Licinius had initially agreed to divide the Roman Empire between them and remained on friendly terms until at least 319. However, in the early 320s their relationship rapidly deteriorated. War broke out in 324, after Constantine entered Thrace—part of Licinius’ territory—without permission and the Eastern Emperor expressed his outrage. Constantine then followed with a full-scale invasion, defeating Licinius first at Adrianople and then at Chrysopolis on 18 September 324.

The trophy upon which Constantine rests his hand on this coin was almost certainly made from the arms of Licinius’ troops. The two seated captives may be intended to represent Licinius and his son, Licinius II, who were both captured in the aftermath of the Battle of Chrysopolis. At first, Constantine spared their lives, but within a year, the elder Licinius was executed for plotting a revolt. Licinius II was likewise put to death in 326. With both the eastern Augustus and his Caesar out of the way, Constantine became sole master of the Roman world.