Watch List notes:

SASANIAN KINGS. Kavād (Kavādh) I. Second reign, AD 499-531. AR Drachm (30mm, 4.08 g, 3h). AW (Ohrmazd-Ardaxšīr) mint. Dated RY 31 (AD 519/20). Bust right, wearing mural crown with frontal crescent, two ribbons, and korymbos set on crescent, ribbons and crescents on shoulders; star behind head / Fire altar with ribbons; flanked by two attendants; RY to left, mint signature to right; star and crescent flanking flames. SNS type Ic/1a; Sunrise –. EF, toned, areas of multiple strike.

From the Delbert Carl Highlands Collection. Ex Bellaria Collection (Classical Numismatic Group 66, 19 May 2004), lot 895.