Watch List notes:

Ionia, Ephesos AR Drachm. Circa 500-420 BC. Bee; [E-Φ] across fields, dotted border / Quadripartite incuse square. Cf. Karwiese Series VI, 2A; cf. SNG Kayhan 138. 4.04g, 15mm.

Very Fine. Rare.

From the inventory of a Swiss dealer;
Ex Roma Numismatics Ltd., E-Sale 62, 17 October 2019, lot 283.