Watch List notes:

KINGS of PARTHIA. Phraates II. 132-126 BC. AR Drachm (21mm, 3.83 g, 12h). Uncertain (Apamea-Rhagiane?) mint. Struck circa 128-127 BC. Diademed bust left; ΛΠ? up right / Archer (Arsakes I) seated right on omphalos, holding bow; lines dividing legends. Cf. Sellwood 16.12 (for type); Sunrise –; cf. Shore 52 (same). VF, toned, holed for suspension.

From the David Sellwood Collection.

It is possible the the letters could be MV, if read downward