Watch List notes:

Caracalla, AD 198-217, AE 34 mm (24.67 g). Tarsus in Cilicia. AVT KAI M AVP CEVHPOC ANTΩNEINOC CEB Π-Π, bust of Caracalla left, clad in the crown and robes of the demiourgos priest; star below. Reverse: ANTΩNEINIANHC CEVP AΔPIANH around, TAPCOV / MHT in exergue, A/M-K ΓB in fields, elephant walking right, carrying two sacks upon its back marked XP. Cf. SNG Levante 1047-8; cf. SNG BN 1541; cf. BMC 196; cf. SNG Copenhagen 364; SNG von Aulock -; cf. McClean 9116 (same obv. die). Glossy brown and dark red patina, light smoothing in the fields noted. The finest known example. Nearly Extremely Fine. Estimated Value $4,000 - UP
The elephant bronzes of Caracalla from Tarsus relate to his journey throughout the eastern provinces in 214-215. The obverse shows Caracalla in typical imperial attire or else wearing the robes of the chief priest, the demiourgos. The elephant on the reverse is shown bearing gifts or offerings upon its back, such as a kiliarch crown (symbolizing Tarsus' rôle as the chief city of Cilicia), three palms branches, or sacks containing offerings or money (on this coin the markings on the sacks can just be made out - XP for crisma (sacrificial oil) or crhmata (money)).
Ex Triton VII (13 January 2004), 802.