Tremissis - Honorius VICTORIA AVGVSTORVM, Ravenna

Honorius moved the Western imperial court from Milan to Ravenna in 402, citing the city's defensive geography — surrounded by marshes and accessible only by controlled causeways. That relocation made Ravenna the effective capital of the crumbling West for the next seven decades, and coins struck there from this point carry that administrative weight whether or not the mint ever rivaled Rome in output volume. This tremissis falls precisely within the window bracketed by Stilicho's desperate campaigns against Alaric's Visigoths, who had already penetrated northern Italy by the time these dies were cut.