Watch List notes:

Low Countries, Vlaanderen (Flanders). Lodewijk II van Male (1346-84) AV Gouden schild (chaise d'or au lion). Gand (Ghent), circa 1369-1384. ✠ LVDOVICVS ⁑ DЄI ˣ ˣ GRΛ ˣ COᙏ' ˣ Ƶ ⁑ DꞂS ⁑ FLΛꞂD', Louis enthroned facing, holding sword and resting hand on coat-of-arms; all within tressure of eight arches, with trefoils in spandrels / ✠ XPC ⦂ VIИCIT ⦂ XPC ⦂ RЄGИΛT ⦂ XPC ⦂ IИPЄRΛT, ornate cross fleurée in quadrilobe with leaves on cusps and rosettes in spandrels. Elsen 38; Delmonte, Or 466; De Mey, Flanders 205; Schneider 148, Friedberg 163. 4.48g, 29mm, 9h.

Extremely Fine; lightly toned.

From the Long Valley River Collection;
Ex Spink & Son Ltd., Auction 12025, 27 June 2012, lot 299 (hammer: £3,200).