It is an eastern
imitative probably from the region of Arachosia which is now southern Afghanistan and southwestern Pakistan.
It imitates the Babylonian series originally struck around 319-317 BC. The symbol in the left
field is a wheel. The
legend is blundered not just in the royal title, but also in the spelling of
Alexander having dropped the delta from the spelling... clear signs of ancient
imitative origin. The
weight is within norm for an
imitative.
Here is another variant example sans royal title, but otherwise the same and probably of the same origin as suggested by the
obverse die match. Note the retrograde N in the
legend another pointer to an
imitative origin.
UNCERTAIN EAST. Circa 320-280 BC. AR
Tetradrachm (27mm, 17.12 g, 5h). In the name and
types of
Alexander III of Macedon.
Head of
Herakles right, wearing
lion skin /
Zeus Aëtophoros seated left; wheel in left
field. Unpublished, but
cf. Price P187-202 for wheel symbol on official issues from Babylon
mint.