Watch List notes:

THRACE, Philippopolis. Commodus. AD 177-192. Æ Medallion (42mm, 46.98 g, 12h). Caecilius Maternus, legatus Augusti pro praetore provinciae Thraciae. Struck circa AD 187. Laureate, draped, and cuirassed bust right, seen from behind / Dionysus standing left, holding patera and thyrsus; to left, panther standing left, head right; to inner right, satyr standing facing. Cf. Varbanov, Philippopolis XI.30 (smaller module); cf. Moushmov, Philippopolis 175 (same); RPC IV.1 Online 25468.2 (this coin); cf. Varbanov 964 (same). Green and brown patina, minor deposits, some roughness. VF. Extremely rare as a medallion, only two recorded in RPC.

From the Michael Stolt Collection.