This coin type was initially minted to commemorate Augustus' establishment of the colony named Colonia Augusta Nemausus in southern Gaul in 27 BC. However, the specific coin in question is part of a revival of the 'crocodile dupondius' design, which occurred two years after Agrippa's death. It features the abbreviation P P (Pater Patriae) on the obverse, a title Augustus was only given in 2 BC, indicating that it was issued at a later date.