c. 38-2 BC Parthian Kingdom Phraates IV Silver Drachm NGC Mint State

Phraates IV ruled the Parthian Empire from approximately 37 to 2 BC, ascending to power following the death of his brother Pacorus I in battle against Rome. His reign was defined by the successful repulsion of Mark Antony's massive invasion in 36 BC and the landmark diplomatic settlement with Emperor Augustus in 20 BC, which saw the return of Roman legionary standards captured at the Battle of Carrhae decades earlier. This silver drachm, certified by NGC in Mint State condition, represents the coinage of one of the most consequential rulers in Parthian history, issued during a period of active engagement between the great empires of the ancient world.

The obverse presents a left-facing diademed and draped bust of Phraates IV, rendered with bold detail in his characteristic pointed beard and tiered royal headdress. A small wart on the forehead, a distinctive identifying feature on his coinage, is visible along with divine symbols including a crescent and star before the king and an eagle holding a wreath behind, representing the Zoroastrian concept of royal divine splendor (khvarnah). The reverse depicts the legendary Arsaces I, founder of the Parthian dynasty, seated right on a throne holding a bow, surrounded by a Greek inscription proclaiming the royal titulature of the "King of Kings."

Graded Mint State by NGC Ancients, this drachm exhibits sharp device definition on both sides with well-preserved surfaces and strong relief across the portrait and seated archer. Parthian drachms of Phraates IV are widely collected as accessible entry points into the coinage of this historically significant empire, and examples preserving this level of detail remain desirable among collectors of ancient Eastern series. We have multiple examples available similar to the coin pictured here.