Watch List notes:

GREEK COINS

Kings of Thrace. Lysimachos, 305-281 BC. Stater (20 mm, 8.49 g, 1 h), with a portrait of an uncertain ruler, uncertain mint, probably in Asia Minor. Head of a 3rd century BC Hellenistic ruler to right, in the guise of Alexander the Great, with a horn of Ammon over his ear. Rev. ΒΑΣΙΛΕΩΣ ΛΥΣΙΜΑΧΟΥ Athena seated left on low-backed throne, holding Nike, crowning the king's name, in her right hand, a spear in her left, and with her left elbow resting on a shield ornamented with an aegis. Müller -. Pozzi (Boutin) 2622 var. Thompson -. A fascinating and intriguing coin of great rarity. Some very minor marks, otherwise, extremely fine.

From the Molard Collection, Switzerland, ex Goldberg 60, 21 September 2010, 2312 and Classical Numismatic Group 67, 22 September 2004, 502.
Exactly who is meant to be portrayed on the obverse of this coin is uncertain; what we can say is that it is certainly NOT Alexander! The short hair on the back of the neck makes this coin look much more like a Seleucid king or, even, a Cappadocian one, than any typical head of Alexander. One wonders whether it could be someone like Hierax, or even Ariarathes IV. A number of posthumous staters of Philip II are known bearing distinctively individual portraits, paired with Philip's own name, so the possibility of this coin being discretely struck in the name of the deceased Lysimachos, but bearing the portrait of a contemporary ruler would be quite reasonable.