Watch List notes:

ARMENIA, Cilician Armenia. Royal. Smpad, 1296-1298. Quarter Tram (Silver, 16 mm, 0.56 g, 12 h), Sis. +ՍՄԲԱՏ ԹԱԳՈՐ ('King Smpad' in Armenian) Lion walking right before cross. Rev. +ՇԻՆԵԼ Ի ՋԱՂԱՋ ՍԻ ('struck in the city of Sis' in Armenian) Fleur-de-lys. AC 411 = CNG 85 (2010), 119. CCA 1677. Extremely rare. Very minor areas of weakness, otherwise, extremely fine.