Watch List notes:

IONIA, Ephesos. Circa 390-325 BC. AR Tetradrachm (23mm, 15.27 g, 12h). Demokrates, magistrate. Struck circa 350-340 BC. Bee with straight wings / Forepart of stag right, head left; palm tree to left, ΔHMOKPATHΣ to right. Pixodarus obv. die 121; NFA, 14 December 1989, lot 576 (same dies). Near EF, toned.

Ex Obolos 4 (21 February 2016), lot 340; Hess-Divo 326 (28 May 2014), lot 48.