Watch List notes:

ANCIENT COINS. GREEK COINS. Thraco-Macedonian Tribes, The Derrones (c.520-500 B.C.), Silver Tetradrachm, 13.54g. Bull walking to left, its head lowered, on ground line. Rev. Small incuse square with irregular surface (Svoronos, HPM, 33, pl. II, 19 = Babelon, Traité IV, 1227, pl. CCCXXVI, 20 = J. Kagan, 'Some Archaic Bovine Curiosities', ANS MN 33, 1988, p. 41, 4, pl. 16 (this reverse die); cf Giessener Münzhandlung 52, 1990, lot 148; SNG ANS -).Struck on a very broad flan, toned, very fine.Extremely rare, apparently only two other recorded examples.
Purchased from Athena, Munich, 27 October 1989
Ex Prospero Collection, The New York Sale XXVII, 4 January 2012, lot 252

Estimate: US$ 15,000