Antoninianus of Emperor Valerian, silvered billon,

Roman Imperial Antoninianus of Emperor Valerian, silvered billon, struck at Rome during his reign 253-260 CE; issue dates within 253-260.  3.35 g, diameter 22 mm. Obverse bears legend IMP C P LIC VALERIANVS P F AVG surrounding a radiate, draped bust facing right; portrait executed in high relief typical of early issues. Reverse legend FELICITAS AVGG depicts Felicitas standing left, holding caduceus in right hand and cornucopiae in left, symbolising prosperity promised by the joint Augusti. Hammered strike with generally centred dies; surface silvering often lightly toned to pale grey with occasional darker peripheral iridescence. Primary reference RIC V Valerian 87.

Valerian's early antoniniani still carried appreciable silver content and an optimistic iconography such as Felicitas promising wellbeing under the co-rule of Valerian and his son Gallienus. The emissions financed campaigns against Persians and Germanic incursions, yet constant military pressure forced successive debasements, foreshadowing the currency's collapse after Valerian's capture in 260.