135, Lot: 225. Estimate $75. Sold for $47. This amount does not include the buyer’s fee.

GRATIAN. 367-383 AD. Æ 23mm (5.44 g). Constantinople mint. Struck 378-383 AD. Diademed, helmeted, draped and cuirassed bust right, holding spear and shield / Gratian standing left on galley; Victory at stern; (wreath)/CONB. RIC IX 52a.3. VF, dark brown patina with earthen highlights.

From the Marc Poncin Collection.