As - Tiberius M CATO L VETTIACVS C C A II VIR

Caesaraugusta — modern Zaragoza — was a Roman colony founded under Augustus, likely around 14 BC, and its civic mint was unusually productive well into Tiberius's reign. This issue falls in the year of Tiberius's notorious withdrawal to Capri, when Sejanus effectively controlled Rome. The duoviri named here, M. Cato and L. Vettiacus, were local magistrates whose names appear on the coinage as a mark of colonial civic dignity — a deliberate echo of senatorial authority at the municipal level.

RPC I 351 is among the better-documented of the Caesaraugustan civic issues, though die alignment and flan quality vary considerably across surviving specimens.