Watch List notes:

MOESIA INFERIOR, Nicopolis ad Istrum. Caracalla. AD 198-217. Æ (26mm, 12.85 g, 6h). Laureate, draped, and cuirassed bust right / Caracalla standing in quadriga driven to right by Victory; soldier leading the procession before, trophy and captives in field above. H&J 8.18.34.4. VF, green patina, spot of active corrosion on obverse. Rare type.

From the estate of Thomas Bentley Cederlind. Ex Kovacs XII (30 November 1995), lot 389.