Watch List notes:

INDO-PARTHIANS, Aria or Margiana. Tanlis Mardates. Mid-late 1st century BC. AR Drachm (18mm, 3.33 g, 12h). Countermarked issue. Tanlis countermark – diademed head left, wearing cap; possible traces of TΛNΛHC around; all within incuse circle – on obverse of a local issue drachm of Phraates IV (Sellwood Type 54.8). Cf. Senior 195.5aD (for countermark) and 195.7 (for undertype); cf. HGC 12, p. 197 (for countermark). Host coin and countermark Fine, toned, porous.