Watch List notes:

CIMMERIAN BOSPOROS. Pantikapaion. Circa 340-325 BC. Drachm (Silver, 15 mm, 3.49 g, 11 h). Bearded head of Pan to left, turned three-quarters facing to front. Rev. Π - Α - Ν Bull's head to left, turned slightly to front. Anokhin 121. MacDonald 57. SNGBM 880. SNG Stancomb 548. Toned, attractive and boldly struck. Flan rather ragged, otherwise, about extremely fine.

From an American collection, ex Nomos 12, 22 May 2016, 32.

While very similar, indeed, this coin and the one in the preceeding lot are struck from different die pairs.