Watch List notes:

MACEDON. Phagres. Circa 400-350 BC. Chalkous (Bronze, 11.5 mm, 1.19 g, 6 h). Laureate head of Apollo to right. Rev. ΦA/ΓP Forepart of a lion to right. HGC 3.1 -. Liampi, Phagres 9 (O7/R8). Dark glossy patina; overall exceptional for type and rarity. Very fine.
From the Perioikos Collection, Switzerland.