Watch List notes:

THESSALY, Pherai. Circa 462/1-460 BC. AR Obol (10mm, 0.71 g, 4h). Head and neck of dolphin left, facing viewer; above, dolphin left / ΦE-RA, head and neck of bridled horse left; all within incuse square. Liampi, Corpus I.4 (V3/R2, pl. 5, 9 – this coin); BCD Thessaly II 676 var. (ethnic); HGC 4, 555. VF, toned, edge chip. The sole coin cited by Liampi for this die combination.

From the BCD Collection. Ex Burgan 18 (22 December 1984), lot 204.