Watch List notes:

PAPHLAGONIA, Sinope. Circa 230-200 BC. AR Drachm (16.5mm, 4.12 g, 11h). In the name and types of Alexander III. Head of Herakles right, wearing lion skin / Zeus Aëtophoros seated left; AB monogram to outer left, star in left field, Γ to outer right. Price 1253; HGC 7, 404. Toned, trace deposits, a hint of porosity, tiny flan flaw on reverse. Near VF. Extremely rare, apparently the fourth known; Price records two in public collections, the ANS (the only example in Pella) and Paris, and another example in Ars Classica XV, lot 508. There are none in CoinArchives nor the ANS photofile.

This rare drachm is from one of only three recorded Alexander Drachm issues from Black Sea mints on the coast of Asia Minor (two from Sinope, one from Kallatis). This issue is also exceptional for having Alexander's name down the left of the reverse rather than the right.