You are right, the two letters above Zeus' arm are more likely ΠP than EM, so it is SC 1417: http://numismatics.org/sco/id/sc.1.1417
(not SC 1416, this is a double unit and too heavy).
Regards
Altamura
Not sure I follow that...
Both of the possible inscriptions would have a 'PI' letter near the top edge to the left of
Zeus.
Given how much of the design and
inscription is either not clear or not there, it's probably safe to say it's one of several quasi-municipal issues of Antioichos IV;
cf. SC 1416, 1417, 1499, etc.
Pretty sure it isn't the
type original guessed at the start of this
thread PtolemAE