Solidus - Valentinian III VICTORIA AVGGG; Ravenna

Valentinian III was only six years old when these solidi began striking at Ravenna, with real power held by his mother Galla Placidia and, increasingly, the generalissimo Aetius. Ravenna had been the western capital since Honorius retreated there in 402, choosing its marshes over Rome's exposed position — a calculation that defined where this coin was made.

RIC X 2011 falls within a period when the western mint was already struggling to maintain output against mounting fiscal pressure from Visigothic settlement costs and Vandal disruption of North African grain and tax revenues.