103, Lot: 68. Estimate $150. Sold for $315. This amount does not include the buyer’s fee.

IONIA, Ephesos. Phanes. Circa 625-600 BC. EL 1/48 Stater (5mm, 0.26 gm). Head of stag right / Incuse punch with raised lines within. Cf. Weidauer 36 (hemihekte; stag forepart); cf. Traité pl. II, 20 (same); cf. Boston MFA 1816 (same); cf. SNG von Aulock 7773 (1/24th stater; stag forepart); Rosen -. Fair. Extremely rare denomination, unpublished in the standard references.