Watch List notes:

THRACE. Ainos. Circa 412/1-410/09 BC. Tetradrachm (Silver, 25 mm, 16.61 g, 6 h). Head of Hermes to right, wearing close-fitting petasos with knob at the top and beads along the edge. Rev. ΑΙΝ[Ι] Goat standing to right; to right, kerykeion; all inside a linear frame within an incuse square. May, Abdera Group XXXI, cf. 259 (obverse A 159 / reverse similar to P 165). An impressive piece: struck in high relief and with a masterful, almost cruel head of Hermes in fine classical style. Some very minor die rust on the obverse and a very light double strike on the reverse, otherwise, good extremely fine.
From a Swiss collection.