Ionia. Phokaia. Circa 521-478 BC. Hekte (Electrum, 10 mm, 2.52 g), struck in the 490s. Facing head of Silenos with wide, open eyes, broad beard and long mustache. Rev. Quadripartite incuse square. Bodenstedt 43, -/θ. A spectacular, toned example of late Archaic miniature art, carefully struck and beautifully centered. Extremely fine. From a Swiss collection, ex Nomos FPL Winter-Spring 2013, 41 and Lanz 147, 2 November 2009, 138. Given its small size this coin can only be termed a masterpiece. Virtually no other coin bearing a facing head produced during the Archaic period rivals the virtuosity of its engraving – Silenos’ head on this coin has a presence that more than belies its small size. Coins of this type have been long known, but this is surely one of the finest examples extant.