Watch List notes:

IONIA, Ephesos. Circa 320-300 BC. AR Didrachm (17mm, 5.51 g, 12h). Mnesarchos, magistrate. Bee / Forepart of stag right, head left; palm tree to left, [M]NHΣAPX[OΣ] to right. Head –; SNG Copenhagen –; SNG Kayhan 277 var. (magistrate; same obv. die); BMC 56 undertype. Minor porosity, a few minor scratches and slightly off center on obverse, indications of undertype on reverse. VF. Very rare, especially with this magistrate, apparently only known for this issue on an undertype on the BM specimen.

From the Colin E. Pitchfork Collection. Ex Classical Numismatic Group Electronic Auction 192 (23 July 2008), lot 77.