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 Nisa mint drachm of Phraates IV (cf. Sellwood Type 53.8). Cf. Senior 195.5aD (for countermark) and 195.7 (Mithradatkart; for undertype); cf. HGC 12, p. 197 (for countermark). Host coin and countermark Fine, lightly toned.

From the Nisa Collection.