Watch List notes:

IONIA. Phokaia. Circa 521-478 BC. Hekte (Electrum, 10 mm, 2.55 g). Round shield decorated with a griffin crouching to left, his forepaw raised; below, seal swimming to left. Rev. Quadripartite incuse square. Bodenstedt 47.1 (dies a/β) = Bank Leu 33, 1983, 383 = Rosen, M&M 72, 1987, 286. Extremely rare, the second and best example known. Very attractive and toned. Extremely fine.

From a Swiss collection, ex Triton XIV, 4 January 2011, 290.