Watch List notes:

Pescennius Niger, 193-194. Denarius (Silver, 18 mm, 2.89 g, 12 h), Antioch, 194. IMP CAES C PESC NIGER IVS AVG COS II Laureate head of Pescennius Niger to right. Rev. VICTOR IVST AVG Victory advancing to left, holding wreath with her extended right hand and palm frond with her right. BMC p. 74, ‡ note. Cohen 76. RIC 81f. Very rare. With a spectacular portrait of Niger, well-struck in high relief; attractively toned and lustrous. One of the finest of all known denarii of Pescennius Niger. Good extremely fine.

From an American collection, ex Goldberg 72, 5 February 2013, 4482.