Watch List notes:

ETHIOPIA: Menelik II, 1889-1913, AE gersh, EE1888-A (1895-6), KM-8, Y-4, designed by Lagrange, one-year type, only 200 pieces struck, thought by some to be a pattern rather than a circulation issue, tied for finest known by NGC, NGC graded MS63 RB, RR. In 1889, Menelik II signed a treaty with Italy in which Italy would recognize the sovereignty of Ethiopia and provide them weapons and support in return for allowing the Italians to control the area north of Ethiopia that is modern day Eritrea. The Italians tried to expand their territory between the treaty signing and ratification by engaging the Ethiopians in the Battle of Adwa in 1896. The Ethiopians were able to defeat the Italians.

Estimate: 3,000-3,500 USD