VIRTVS EXERCITI - 2 captives under standard inscribed VOT XX

[JaniO]

Reverse is VIRTVS EXERCITI. Two captives under standard inscribed VOT XX.
Can someone help with mint and obverse.

[richard a]

Hello,

Constantine I

The Obv. appears to read: CONSTANTINVS AVG

The mint I am not sure about

[SRukke]

Reverse is VIRTVS EXERCITI. Two captives under standard inscribed VOT XX.
Can someone help with mint and obverse.

I thought I saw more of NIVS AVG on the right side obverse and was thinking Licinius. Hard to tell from the picture though. 

[justus]

 Reverse legend: VIRTVS EXERCIT. The obverse bust seems to me as "laurate only without helmet"? Mintmark of Ticinum: PT or ST ?

[JaniO]

Thanks for help. Follis' condition is poor I know... I try find counterpart in Helvetica's RIC list but I didn't find it (if mint is Ticinum). Can someone find exact counterpart?

[SRukke]

Thanks for help. Follis' condition is poor I know... I try find counterpart in Helvetica's RIC list but I didn't find it (if mint is Ticinum). Can someone find exact counterpart?

I went through Helvetica's list also but most matches are helmeted which this one appears not to be. There was one match except yours appears to not have letters in the reverse field which Helvetica's did. They were all pretty rare'

Maybe a light oil rub or at least moisten it and try to read the letters a bit better. 

[JaniO]

I did find 2 papers where you can find information about VIRTVS EXERCIT - VOT XX from Ticinum. Papers are:
Patrick Bruun, "The System of the Vota coinages" and Bruun's other paper "The Christian Signs on the Coins of Constantine". Especially last papers fig. 9a looks almost identical (rev.).

I just looked coin and I also saw NIVS AVG so maybe it is Licinius' follis.

[Holding_History]

The mintmark looks to me like P :star:T. However like before mentioned there is no Chi-Rho in the left reverse field and it doesn't look like a helmeted bust.

Could it possibly be an unlisted variety?