Watch List notes:

CIMMERIAN BOSPOROS. Pantikapaion. Circa 380-370 BC. Hemidrachm (Silver, 13 mm, 2.66 g, 11 h). Head of Pan with a pointed beard, goat's ears and a pug nose to left. Rev. ΠANTI Lion walking left. MacDonald 33. HGC 7, 33. MacDonald 72. Lightly toned and of splendid style, an exceptional example. Light marks on the reverse, otherwise, about extremely fine.