Watch List notes:

Sasanian Kingdom. Kavad I. Third reign, A.D. 498-531. Æ 1/4 pashiz (11 mm, 0.57 g, 10 h). Crowned bust of Kavad I right / Fire altar flanked by two attendants. SNS -; Göbl -; Sunrise -. Dark brown patina with earthen highlighting, slight die-shift on reverse. An attractive coin. Very fine.