Watch List notes:

TROAS, Alexandria Troas. Time of Valerian I and Gallienus, AD 253-260. Æ (20mm, 4.45 g, 5h). Draped bust of Tyche right, wearing mural crown; vexillum inscribed AV/CO over shoulder / Horse grazing right. Bellinger A486; SNG Çanakkale 491. Brown patina. Good VF.

Ex Elwood Rafn collection (Agora Auctions 44, 3 November 2015), lot 78.