Solidus - Honorius VICTORIA AVGGG, Ravenna

Honorius transferred the western imperial court to Ravenna in 402 AD, largely because its surrounding marshes made it nearly impregnable — a defensive calculation that proved sound when Alaric sacked Rome in 410 without ever threatening the emperor personally. The Ravenna mint supplied the court and its remaining military apparatus with gold coinage throughout this increasingly contracted western administration.

The VICTORIA AVGGG reverse legend names three Augusti simultaneously, a convention maintained even after the eastern and western courts had grown effectively autonomous. By the later years of this emission, one of those three emperors existed in name only.