Watch List notes:

MOESIA INFERIOR, Nicopolis ad Istrum. Caracalla. AD 198-217. Æ (30mm, 14.81 g, 1h). Flavius Ulpianus, legatus consularis. Struck AD 210-211. Laureate and cuirassed bust right, slight drapery on shoulder / Zeus enthroned left, holding phiale and scepter. H&J, Nikopolis 8.18.1.4 ; AMNG I 1565; Varbanov 3154. Hard dark green and brown patina, some smoothing and a few light cleaning marks. Near EF. Attractive coin in hand.

Ex Classical Numismatic Review XLV.1 (Winter 2020), no. 528353; E.L. Collection (Gorny & Mosch 265, 14 October 2019), lot 769; Lanz 109 (27 May 2002), lot 611.