Watch List notes:

EGYPT. Alexandria. Nerva, 96-98. Tetradrachm (Billon, 24.5 mm, 12.38 g), year 1 = 96-97. AYT NEPOYAΣ KAIΣ ΣEB Laureate and draped bust of Nerva to right. Rev. L A Draped bust of Sarapis to right, wearing kalathos. Dattari (Savio) 6848. Geissen 436. K&G 26.8 var. (Nerva without drapery). RPC III 4118. Rare. Porous, otherwise, very fine.
From the Trausnitz collection, ex Lanz 154, 11 June 2012, 328.