Watch List notes:

SPAIN, Carthago Nova. Tiberius, with Gaius (Caligula) as Caesar. AD 14-37. Æ Quadrans (18mm, 3.23 g, 11h). Laureate head of Tiberius left / Bare head of Gaius Caligula left. ACIP 3154h; RPC I 184; Burgos 611. Earthen brown patina, reverse off center. VF. Rare reverse legend variety with ligate NK.

From the Conti Collection.