Phokaea, Ionia, Electrum Stater, 17mm, 16.46 gm. 

Seal swimming left, devouring octopus clamped in its mouth; 
in the field above, two, below, one raised square; at 
the end of the trunk, Phi.
Two incuse squares of different sizes, set side by side. 

Of the greatest rarity, probably the second known specimen 
and of high numismatic interest. Oval flan, two cracks at edge.

Very fine
This remarkable stater is one of the most exciting ones 
amongst all the early electrum staters of the eastern 
Greek coinage. The representation of the seal devouring 
a cephalopod is singular in Greek coinage, but reminds of 
designs on Minoan and later vase paintings. Enigmatic are 
the three raised squares in the field, their design reminds 
of the incuse squares on the reverses of these early archaic 
coins.

Courtesy of The New York Sale, Auction XIV, 2007, lot 110, sold for $80,000.