Æ23 - Septimius Severus COL AVG TROAD

Alexandria Troas, a Roman colony in the Troad founded under Augustus, held the rare privilege of issuing autonomous bronze coinage long after most eastern mints had been absorbed into imperial monetary administration. Septimius Severus confirmed and likely reinforced the city's colonial status during his reign, partly as reward for loyalty — his rival Pescennius Niger drew heavy support from the eastern provinces, making pro-Severan cities worth cultivating.

The COL AVG formula in the legend is an explicit assertion of Augustan foundation rights, a point of civic pride this mint pressed consistently across decades.