Watch List notes:

IONIA. Ephesos. Circa 500-420 BC. Tetartemorion (Silver, 5 mm, 0.18 g, 12 h). Bee with slightly curved wings. Rev. [EΦ] Head of eagle right within incuse square. Karwiese Series IV, Type 2. SNG Kayhan 126-9. Rare and unusually nice. Minor area of flatness on the reverse, otherwise, good very fine.