Watch List notes:

KINGS of MACEDON. temp. Alexander III – Seleukos I. Circa 324/3-300 BC. AR Drachm (17mm, 3.59 g, 12h). In the types of Alexander III. Uncertain mint. Head of Herakles right, wearing lion skin; c/m: head of Apollo(?) right, KAΛ below, within incuse circle / Zeus Aëtophoros seated left; [control marks in field(s)]. Cf. Marinescu Appendix 4, p. 480, 5 = M. Thompson, "A Countermarked Coin from Büyükçekmece" in MN VI (1954), pp. 25–6 = AMNG I p. 100, 216 (head of Athena). Toned. Coin: Near Fine; countermark: VF. Extremely rare countermark.

The countermarked coin cited by Marinescu, Thompson, and AMNG is an Alexander type drachm that was in the collection of Imhoof-Blumer. This coin is not currently published, so it is not possible to confirm the description by Pick of the head being that of Athena. All other countermarks of Kalchedon bear the head of Apollo, which seems to be the head visible on the present specimen, so it is possible that the identification of Athena by Pick (in AMNG) was incorrect. Neither Marinescu, nor Thompson, saw the coin. Interestingly, Price does not mention this countermark type in his discussion of the countermarks used on the Alexander coinage.