Watch List notes:

FRANCE, Royal. Henri IV le Grand (the Great). 1589–1610. AR Demi-franc (29mm, 6.95 g, 9h). Toulouse mint; différent: scallop. Dated 1603. Laureate and armored bust right, wearing ruff / Cross fleuronnée with M at center. Duplessy 1212; Ciani 1535. Toned, a few light scratches, edge split, die break. VF.