Watch List notes:

GERMANY. Ravensburg (königliche Münzstätte). Friedrich II, 1215-1250. Bracteate (Silver, 22 mm, 0.43 g, 12 h). Crowned head within city walls with gateway. Rev. The obverse, incuse. Bonhoff 1845. Cahn 204. Klein & Ulmer 202. A particularly nice and rare example. Extremely fine.

Ex Munzen & Medaillen 44, 25 November 2016, 517.