Watch List notes:

MACEDON, Thessalonica. Gordian III. AD 238-244. Æ (26mm, 9.57 g, 1h). Pythian Games issue. Struck AD 241-4. Lauriate, draped, and cuirassed bust right, seen from behind / Agonistic crown inscribed ΠVΘIA, containing palm frond. Touratsoglou 111 (V28/R81); RPC VII.2 353; Varbanov 4535 corr. (obv. legend, same dies) = Varbanov 4583. Green-brown patina. VF. Very rare.

Ex Italo Vecchi Collection (Roma E-Sale 76, 5 November 2020), lot 745; Roma IV (30 September 2012), lot 2420.