Watch List notes:

German States, Bayern (Bavaria, Kingdom). Ludwig II AR 1/2 Gulden. 1868. Engraved by Carl Friedrich Voigt. LUDWIG II KŒNIG V. BAYERN, bare head to right; VOIGT below / Denomination and date within oak wreath. KM 882; AKS 180; Jaeger 102. 5.30g, 24mm, 12h.

Near Mint State; lustrous.

From the N. M. McQ. Holmes Collection;
Ex Münz Zentrum, Auction 102, 3 May 2000, lot 4024.