Watch List notes:

Augustus (27 BC-14 AD). AR Denarius, 18 BC. D/ CAESAR AVGVSTVS. Bare head right. R/ SIGNIS RECEPTIS / SPQR / CL V. Clipeus virtutis between eagle and signum. RIC 86a; C. 265. AR. g. 3.71 mm. 18.00 A superb portrait. Prettily toned with light iridescent hues. Banker's mark on obverse, otherwise EF/About EF.

This issue refers to the honours granted in 27 BC, a decennium before, to the Spanish campaign of 26 (Jupiter Tonans and Mars Ultor) and to the recovery of military standard from the Parthians. (Italo Vecchi, N.A. 9, 1997, lot 70 note).