When Audoleon, Leon’s father, died, Paeonia was in bad sorts. There were Gauls running around and pillaging everything. One couldn’t drive anywhere without being harrassed by them, and pretty much every store was out of stock.
Nevertheless, Leon managed to put things back together to a decent extent. Unlike his predecessors, he didn’t mint shiny silver coins but instead just these bronzes. Very few remain, and this is one of fewer than twenty and may be one of only two for this denomination.