Hybrid Barbarian Imitation of Aureus of Alexander Severus

Coins of this type were created in barbarian circles as ornaments – pendants worn as necklaces. The technological production process of these objects is still being investigated, however it can be stated that this coin was modelled after a specific type of Roman coin – an aureus of Alexander Severus, while simultaneously some elements of the original were processed to such an extent that we can speak of native, East-Germanic motifs. Thus, it is referred to as a hybrid type.
The maker of the minting stamp tried to reproduce representations on both sides of the coin as accurately as possible, that is the portrait of the emperor on the obverse and the figure of Jupiter and the young emperor on the reverse. The approach to the inscriptions, i.e. legends, is completely different. The legends on the prototype were as follows: IMP SEV ALEXAND AVG (obverse), IOVI CONSERVATORI (reverse). They were reproduced only partially: XANDAVG (obverse), IOVICONC and some illegible characters (reverse). Additionally, on the obverse part of the legend IMP SEV ALE has been replaced by characters in runic alphabet, the Elder Futhark. It is uncertain whether this is just a pseudo-legend or a full word, such as a name. Runologists propose various readings of the inscription.
The current state of knowledge allows dating the coin to a period no earlier than the last quarter of the 3rd century to about the middle of the 4th century AD (possibly to the end of this century).
This historical object is very important for several reasons. Firstly, it is the oldest known example of the use of runic alphabet characters on a coin and one of the few finds featuring an inscription of this type from the Gothic circle. Secondly, the hole proves that the coin was used as an ornament in Barbaricum, a pendant worn around the neck, with the inscription in the Elder Futhark on to-be exposed side. It is believed that gold coins were produced as ornaments in the Gothic circle. Thirdly, it is a unique object and no other specimen is known, as with many barbarian coins. Simultaneously, it is related to other similar relics both stylistically and technologically, including by the fact that it was made from so-called barbarian gold which contained a large admixture of silver – in this case nearly 25 per cent. The artefact is therefore an exceptionally important and valuable source for research on the beginnings of minting of the East Germanic tribes, who in the 5th century built their own states in place of the Roman Empire in the West.
There is abundant literature on the relic:
It is still possible to see the original auction description: Warsaw Numismatic Centre, auction number 58 (8 November 2014), number 22 (https://wcn.pl/auctions/58/22).

The original coin type: https://www.acsearch.info/search.html?id=287778.
Full literature:
Degler Adam, East Germanic imitation of an aureus of Severus Alexander with runic legend: the newest acquisition to the collection of ancient coins in the Ossolineum, in “Wiadomości Numizmatyczne”, R. LIX – “Polish Numismatic News” IX, Warszawa 2015, pp. 47–65.
Interpretations:
Mees Bernard, Early Gothic numismatic [h]rustis and γουνθ/ιου, “Beiträge zur Geschichte der deutschen Sprache und Literatur”, 140, 4, Boston 2018, pp. 449–457;
Bursche Aleksander, Latałowa Małgorzata, Mączyńska Magdalena, The Migration Period between the Oder and the Vistula: an Outline [in:] A. Bursche, J. Hines, A. Zapolska (ed.), The Migration Period between the Oder and the Vistula, vol. 2, Leiden – Boston 2020, pp. 853–876, Il. 26.6c.;
Schmauder Michael, Germanen. Eine archäologische Bestandsaufnahme [in:] G. Uelsberg; M. Wemhoff (coll.), Germanen. Eine archäologische Bestandsaufnahme, Berlin 2020, pp. 19–39.
Participation in exhibitions:
H. Neumayer, S. Olschok, Katalog der in der Austellung gezeigten Funde (Auswahl) [in:] G. Uelsberg; M. Wemhoff (coll.), Germanen. Eine archäologische Bestandsaufnahme, Berlin 2020, pp. 565–583 (p. 580, no. 7.25).