Watch List notes:

Phraates IV (38-2), Drachm, Ekbatana, c. 38-2 BC; AR (g 3,70; mm 21; h 12); Diademed and bearded bust l., wart on brow, wearing segmented necklet; before, star above crescent; behind, eagle, Rv. ΒΑΣΙΛΕΩΣ / ΒΑΣΙΛΕΩΝ / ΑΡΣΑΚΟY / EYEPΓETOY / ΔΙΚΑΙΟY / ΕΠΙΦΑΝΟYΣ / ΦΙΛΕΛΛΗΝΟΣ, king enthroned r., holding bow; on r., monogram. Sellwood 54.7.
Lustrous, extremely fine.