EGYPT. Alexandria. Gallienus, 253-268. Drachm (Bronze, 29.70 mm, 13.29 g, 12 h), year IB = 12 = 264-265. AYT K Π ΛΙΚ ΓΑΛΛΙΗΝΟC CEB Laureate and cuirassed bust of Gallienus to right. Rev. L IB Eagle standing to left, his head turned back to right, holding a wreath in his beak; in field to left, palm branch. Dattari (Savio) 5294-6. K&G 90.83. Köln 2926. Very rare. Bold and with a green patina and reddish highlights. Good very fine.
From the collection of Jean-Pierre Righetti, ex Classical Numismatic Group E442, 17 April 2019, 821 and Numismatica Ars Classica E, 4 April 1995, 3156 (but very carefully and successfully cleaned since its last auction appearance).
By the time of the sole reign of Gallienus Alexandria was basically only issuing tetradrachms - then no longer billon, but bronze or copper. Curiously enough, for reasons that are now unclear, Alexandria produced a significant issue of drachms, in the names of both Gallienus and Salonina, during the emperor's 12th regnal year: 264/265. Could it have been struck as a belated celebration of the victory in 262 over the usurper L. Mussius Aemilianus, who had proclaimed himself emperor following the defeat of the Macriani in 261?