415, Lot: 11. Estimate $100. Sold for $110. This amount does not include the buyer’s fee.

THRACO-MACEDONIAN REGION, Uncertain. 5th century BC. AR Obol or Hemiobol (7mm, 0.53 g). Head of calf right / Rough incuse square. Unpublished in the standard references. VF, toned, light porosity. Rare.

From the Belgica Collection. Ex Rauch 76 (17 October 2005), lot 243.

A quantity of these have appeared on the market over the past few years, usually erroneously attributed to Akanthos, a city that never depicted a calf on its coinage. Moreover, the style of the calf, as well as the form of the incuse, is unlike any other coins attributed to that city.