Watch List notes:

House of Hohenstaufen (1194-1268), Frederick II (King of Sicily, 1198–1250; King of Germany, 1212-1220; Emperor, 1220-1250), Half Augustale, Messina, After 1231 ; AV (g 2,61; mm 15; h 6); CESAR AVG IMP ROM, laureate and draped bust of Frederick II r., Rv. + FRIDERICVS, eagle standing l., with open wings and head r. Kowalski E 81/A 82; Spahr 103; MEC XIV, 517.
Very rare, beautiful portrait, good very fine.

Ex Walter Niggeler's collection; Bank Leu AG und Münzen und Medaillen AG, Basel 1967, lot 182, Frintz Rudolf Künker, Auction 109, lot 1173.