Watch List notes:

Philip I, (A.D. 244-249), silver antoninianius, Antioch or another Eastern mint, issued 244-5, (3.90 g), obv. radiate bust to right, around IMP C M IVL PHILIPPVS P F AVG P M, rev. Pax standing to left holding olive-branch and transverse sceptre, around PAX FVNDATA CVM PERSIS, (S.8941, RIC 69, RSC 113). Nearly extremely fine/good very fine and very scarce.

The type commemorates Philip's negotiation of a Peace treaty with the Persian/Sasanian king Shapur and his assumption of the title Persicus Maximus, hence the P M on the obverse.