Watch List notes:

Austria, Holy Roman Empire. Joseph II AV 4 Ducats. Vienna mint, 1786. IOSEPH • II • D • G • R • I • S • A • GERM • HV • BO • REX •, laureate and draped bust to right; mintmark below / ARCH • AVST • D • BVRG • LOTH • M • D • HET • (date) •, double-headed imperial eagle; denomination below. Herinek 2; Friedberg 433; KM 1881; Macho & Chlapovič 21, 381 (hammer: EUR 65,000); Rauch 105, 1784 (hammer: EUR 56,000). 13.92g, 40mm, 12h.

Near Extremely Fine; areas of matte surface, possibly indicating smoothing. Extremely Rare; one of fewer than ten examples to come auction in the past decade, among the most desirable issues for connoisseurs of Austrian coinage.