Watch List notes:

German States, Bayern (Bavaria, Kingdom). Ludwig II AR 1 Gulden. 1865. Engraved by Carl Friedrich Voigt. LUDWIG II KŒNIG V. BAYERN, bare head to right; C. VOIGT below / Denomination and date within oak wreath. KM 867. 10.59g, 30mm, 12h.

Near Extremely Fine.

From the N. M. McQ. Holmes Collection;
Ex Fritz Rudolf Künker GmbH & Co. KG, Auction 59, 26 September 2000, lot 1628.