Watch List notes:

IONIA, Ephesos. Phanes. Circa 625-600 BC. Fourrée Hemihekte (9mm, 1.19 g). Forepart of stag right, head left; pentagram(?) to right / Incuse square. For prototype, cf. Weidauer 36–7. VF, toned, some encrustation. Rare contemporary forgery.