Medaillon - Constantinus I CONSTANTINVS AVG, Nicomedia

The Nicomedian mint was one of Constantine's favored production centers after his reorganization of imperial minting following the defeat of Licinius in 324 — the city had been Licinius's own capital, and its conversion to Constantinian output carried deliberate political weight. Gold medallions of this type were not struck for circulation; they functioned as imperial largesse, distributed to senior military officers and court officials at congiaria and on imperial anniversaries.

RIC VII Nicomedia 164 is a rare issue, consistent with the limited and targeted distribution these multiples received.