Æ21 - Valerian and Gallienus ΕΦΕϹΙΩΝ ΤΥΧΗ

Ephesus remained one of the wealthiest and most politically connected cities in Asia Minor throughout the joint reign of Valerian I and Gallienus, and its mint produced a substantial volume of provincial bronze during these years — partly to fund local civic functions that imperial coinage rarely reached at the street level. The city's relationship with Rome was carefully managed: honoring both co-emperors on a single issue was a deliberate act of loyalty during a reign already fracturing under military pressure from the east.

Valerian was captured by Shapur I at the Battle of Edessa in 260 AD, ending the co-reign abruptly. Provincial issues from Ephesus attributable to the joint period therefore have a hard terminus ante quem.