Watch List notes:

Thrace, Ainos PB Tessera. Circa 5th-4th century BC. Head of Hermes facing, slightly left, wearing a petasos / AINI, goat standing right, crescent before; all within incuse square. Cf. HGC 3, 1278 for obverse type and BMCRE 2 for reverse type. 12.52g, 29mm, 1h.

Very Fine.

From a private German collection.