Follis - Theodosius I SALVS REIPVBLICAE, Constantinopolis

The SALVS REIPVBLICAE issue belongs to the post-reform coinage that followed Theodosius's consolidation of power after the Battle of the Frigidus in 394 — though pieces struck 388–392 predate that final victory and reflect instead the period following his defeat of the usurper Magnus Maximus. Theodosius ruled the eastern half from Constantinople while the west remained contested, and this mint's output during those years was substantial and rushed.

RIC IX 86b is a Constantinople mint attribution. The nummus at this reduced module had shrunk dramatically from the large follis of a century earlier, a contraction driven by decades of monetary debasement across the third and fourth centuries.