Watch List notes:

Ionia, Ephesos AR Drachm. Circa 500-420 BC. Bee; ΕΦE[ΣION] around / Quadripartite incuse square. SNG Kayhan 140. 3.27g, 13mm.

Very Fine.

From the inventory of a Swiss dealer;
Ex Roma Numismatics Ltd., E-Sale 62, 17 October 2019, lot 284.