Watch List notes:

Indo-Parthians, Margiana or Sogdiana AR Drachm. Uncertain mint, late 1st century BC - early 1st century AD. Countermarked issue on a Margiane drachm of Parthian king Phraates IV (Sellwood 52.19). Diademed bust left; behind, eagle left, holding wreath; countermark: on neck, Eukratides-style helmeted bust right within oval incuse / Archer (Arsakes I) seated right on throne, holding bow; Π below bow. Senior 199.1D; HGC 12, p. 194. 2.19g, 21mm, 11h.

Near Very Fine.