1/4 Siliqua In the name of Justin I and Theoderic, Sirmium, retrograde S with flat bust

The Gepids occupied Sirmium — a city the Romans had ranked among the four most important in the empire — after the collapse of Hunnic power in the 450s, and they understood exactly what minting coinage in the names of Roman emperors was worth politically. Striking in Justin I's name while Theoderic still lived placed this issue in the precise diplomatic window when the Gepids were navigating loyalty signals to both Ravenna and Constantinople simultaneously.

The retrograde S is not an error. It appears consistently enough across the type to be a deliberate workshop convention, possibly a celator's mark or a regional habit of the Sirmium die-cutters working outside mainstream imperial production.