Watch List notes:

MACEDON. Koinon of Macedon. Time of Severus Alexander, 222-235. Medallion (Silver, 16x20.5 mm, 2.96 g, 11 h), the weight includes the gold ring mount with a suspension loop, Struck in the capital of the Koinon, Beroea. Head of Alexander the Great to right, as Herakles, wearing a lion's skin headdress. Rev. AΛEΞAN/ΔPOY Lion walking to right. Possibly unpublished. Cf. K. Dahmen, "Alexander in Gold and Silver", in AJN 20 (2008), 31 (for the legend arrangement), 33-34 (stylistically close but of smaller module), and 35 (for the size, but lacking a legend). A very interesting and exceedingly rare silver medallion of the Koinon of Macedon honoring Alexander the Great, mounted in antiquity as a pendant. Very fine.