Watch List notes:

IONIA. Ephesos. Circa 420-400 BC. Hemidrachm (Silver, 11.5 mm, 1.77 g). Ε Φ Bee with curved wings. Rev. Quadripartite incuse square. Karwiese Series VI. SNG Copenhagen 207. Find patina deposits. Very fine.

From the Trausnitz Collection, acquired from Athena Münzhandlung on 15 November 2004.