Watch List notes:

AVARS (?), Pseudo-Imperial coinage. AV 'Solidus' (18.5mm, 1.00 g, 12h). Imitating a Constantinople mint issue of the Byantine emperors Heraclius and Heraclius Constantine (610-641). Crowned facing busts of Heraclius, bearded, and Heraclius Constantine, beardless; cross above, blundered pseudo-legend around / Cross potent set on three steps; blundered pseudo-legend around. Jónas –; Bóna –; cf. Adams I, lot 295(for similar type). Edge bumps, evidence of prior mounting. Near VF. Rare.

The light weight and evidence of mounting at 12 o'clock on the obverse suggests that this was struck for use as a jewelry piece rather than as a circulating coin