Trajan, AE38 medallion, ca. 103-111 AD, 31.30 gr.
 
Obv: IMP CAES NERVAE TRAIANO AVG GER DAC P M TR P COS V P P,
laureate bust right, slight drapery on left shoulder. 
Rev.: S P Q R OPTIMO PRINCIPI, Trajan on horse 
prancing right, about to hurl spear at Dacian enemy 
kneeling below horse, where a second enemy also 
lies dead with a spear in his side and head falling 
across exergual line.

Apparently unique and unpublished, one of very few Trajan’s medallion known.

Even if the S C was present in the exergue we could easily 
recognize this as a medallion that commemorates Trajan’s 
victories in Dacia. On the usual sestertii there is only one 
Dacian, without a shield, who cowers below the horse or in front of the horse’s raised hooves. 
 
ex Barry Feirstein Collection of Ancient Coins Part I, ex Harlan J. Berk. 

With kind permission of Numismatica Ars Classica NAC AG,
Auction 39, lot 117.
Sold for 42,000 Swiss Francs, ca. $34,474