Watch List notes:

IONIA, Ephesos. Circa 500-420 BC. AR Drachm (16mm, 3.29 g). Bee; EΦ-[EΣI-O-N] around / Quadripartite incuse square. SNG Kayhan 140; SNG von Aulock 7819; SNG Copenhagen 210. Toned, a little die wear, slightly off center on obverse. VF.