Watch List notes:

PHOENICIA, Arados. Circa 172/1-111/0 BC. AR Drachm (17.5mm, 3.92 g, 12h). Dated CY 108 (152/1 BC). Bee; PH (date, in monogram form) to upper left, E-ΦΣ across field / Stag standing right; palm tree in background. Duyrat 2952–3; HGC 10, 63; DCA 774; BMC 165. In NGC encapsulation 5770574-005, graded Ch XF, Strike: 4/5, Surface: 2/5, edge chips. Extremely rare issue, only two noted by Duyrat (including the BM coin), none in CoinArchives.

Ex English Queen's Counsel Collection (Classical Numismatic Group Electronic Auction 467, 6 May 2020), lot 206, purchased from B.A. Seaby Ltd. (their ticket included).