This coin, minted in Constantinople, as we can tell from the mint-mark CONS, is a solidus, a gold coin which had replaced the aureus as the standard gold coinage in 312 CE. The obverse refers to Gratian, who shared rule with his father Valentinian I, emperor of the Western Empire, and his uncle Valens, emperor of the Eastern Empire, between 367 and 375 CE. This family of rulers worked hard to maintain unity in the empire, an attempt which is mirrored in their common coinage. Indeed, in this case the same reverse type is used for each of the three emperors, even when the reverse type might refer to events important to an emperor different from the one depicted on the obverse. The VICTORIA AVGVSTORVM here, though possibly a reference to Valens’ victory over the Goths, is applied to coinage which depicts Gratian on its obverse, while the “vota” inscription on the reverse (VOT V MVL X – “for vows of 5 years having been fulfilled, may there be 10 more”) might refer to the quinquennial celebration of Valentinian and Valens’ rule or to that of Gratian, who became emperor two years after his seniors. Reina Callier 2011.