Watch List notes:

France, Kingdom. Philippe VI de Valois (1328-1350) AV Lion d'or. Struck from 31 October 1338. PҺ' ⁝ DЄI ⁝ GRA ◦ ◦ FRANC ⁝ RЄX ◦, Philippe seated facing within Gothic portico, holding lis-tipped sceptre in each hand; at feet, lion couchant to left, head facing / ✠ ⁝ XP'C ⁝ VIꞂCIT ⁝ XP'C ⁝ RЄGNAT ⁝ XP'C ⁝ IИPЄRAT, cross quadrilobée, feuillue, and fleurdelisée; quadrilobe in centre of cross; all within quadrilobe, arcs ending in trefoils; crown in each spandrel. Duplessy 250; Ciani 290; Friedberg 265. 4.86g, 30mm, 6h.

Good Extremely Fine; previously NGC graded MS63. Rare.

From the Long Valley River Collection;
Ex Maison Palombo SA, 6 May 2006, lot 189 (hammer: EUR 12,000).