Watch List notes:

CARTHAGE, Second Punic War. Circa 203-201 BC. BI Tridrachm – 1½ Shekels (24.5mm, 9.48 g, 12h). Wreathed head of Tanit left / Horse standing right, head left; pellet between hind legs. MAA 81c; SNG Copenhagen 396. VF, black surfaces, earthen encrustation.

The billon of this issue has extremely low silver content, such that nearly all examples appear to be bronze.