★ Monetary reform ★

PTOLEMAIC KINGS of EGYPT: Ptolemy VI Philometor (2nd reign, 163-145 BCE), AE27 (=60 new drachms =1 old drachm). Alexandria, 17.18g, 27mm.
Obv: Head of Isis wearing wreath of grain ears right
Rev: ΠTOΛEMAIOY BAΣIΛEΩΣ; Eagle standing on a thunderbolt left with wings open. Pi-Alpha monogram to left
Svoronos 1384, Lorber & Faucher Series 7B
From the Shea19 collection, acquired from Aegean Numismatics

The hypothesis that the denomination is 1 old drachm = 60 new drachms is based on Lorber & Faucher’s arguments. The new drachm was introduced under a major demonetization and reform (including system of reckoning in new drachms) instituted c. 205 (series 6). Series 7 was issued under a later reform, also accompanied by demonetization of most of series 6, except for one denomination that was carried through. Lorber and Faucher note that coins from series 7b were struck in an alloy highly debased with lead, up to 30% or even a bit higher.