Watch List notes:

MACEDON, Pella. Maximus. Caesar, AD 235/6-238. Æ (26mm, 10.59 g, 7h). Bareheaded, draped, and cuirassed bust right / Pan seated left on rocks, resting arm on head, holding pedum, and leaning on rocks; syrinx to left. SNG ANS 638; Varbanov 3747. VF, brown surfaces, a little rough.

From the Belgica Collection. Ex Helios 5 (25 June 2010), lot 270.