Watch List notes:

IONIA, Ephesos. Circa 340-330 BC. AR Hemidrachm (11mm, 1.70 g, 6h). Echedam, magistrate. Bee with straight wings / Quadripartite incuse square divided by raised bands; EXE∆AM on central band. SNG Copenhagen –; SNG Kayhan 246 var. (without magistrate's name); cf. Pixodarus p. 197 for magistrate (private collection). VF, find patina. Rare.