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 to left; behind, eagle to left, holding wreath; c/m: on neck, Eukratides-style helmeted bust to right within oval incuse / Archer (Arsakes I) seated to right on throne, holding bow; Π below bow. Senior 199.1D; HGC 12, p. 194; CNG E-398, lot 370 (same dies). 3.24g, 21mm, 12h.

Very Fine.