Watch List notes:

Caracalla. AD 198-217. AR Ring (21x18mm, 5.95 g, 12h). The obverse of a ground down Rome mint denarius, struck circa AD 215-217, welded to a silver man's ring. Opening is 17x14mm. Cf. Pecunem 34, lot 976 (for obv.). As made, toned, some minor encrustation.