Watch List notes:

INDIA, Pre-Mauryan (Deccan). Tribal issues of Mahrashtra. Circa 500-400 BC. AR Half Karshapana (15mm, 1.64 g). Four punchmarks: elephant standing left, two geometric patterns, pellet-in-annulet surrounded by three fish (or animal heads?) / Blank. Cf. ATEC 3909, 3934, and 3968 (for punches); P. Kulkarni, "Coins of Vidarbha Janapada," ONS 178 (2004); Rajgor –; AICR –; Todywalla 63, lot 5. Good VF.

This issue is normally attributed to the Vidarbha Janapada. The recent Chhindawara hoard, however, suggests that it may belong to the Chedi Janapada.