Watch List notes:

THRACE, Mesambria. Circa 275/50-225 BC. AR Tetradrachm (32mm, 16.93 g, 12h). In the name and types of Alexander III of Macedon. Head of Herakles right, wearing lion skin / Zeus Aëtophoros seated left; in left field, helmet above ΠO monogram. Karayotov I – (catalog no. 127); Topalov, Messambria 13; Price 988; Black Sea Hoard 195 (OF/R28 – this coin). Lightly toned, faint cleaning marks, minor die shift on obverse. Near EF. Very rare issue, none seen by Karayotov, two in Pella, and only five in CoinArchives.

Ex Freeman & Sear inventory G9833 (ND); "Black Sea" Hoard, 313.