Nummus - Licinius I IOVI CONSERVATORI AVGG NN, Thessalonica

Thessalonica had only recently been brought back under imperial control when this issue was struck — the mint there was reactivated under the Tetrarchy and became a key production center during the violent realignments of 312–313, precisely when Licinius and Constantine were formalizing their alliance against Maximinus Daia. The IOVI CONSERVATORI reverse type was Licinius's preferred divine backing throughout his reign, a deliberate alignment with Jupiter that he maintained even as Constantine increasingly associated himself with the Christian God following the Milvian Bridge.

The Edict of Milan, jointly issued by the two emperors in early 313, postdates the opening of this emission by only weeks.