Æ25 - Augustus ΕΥΘΗΝΙΑ, L Μ

Struck in Alexandria during year 20 of Augustus's reign (10–11 AD), this bronze belongs to the distinctive Alexandrian civic coinage that operated entirely outside the Roman imperial mint system. Egypt was administered as a personal possession of the emperor — senators were barred from even entering the province without permission — and its coinage reflected that isolation, denominated in drachms and obols rather than Roman units and never intended to circulate beyond the Nile valley. The "LM" in the inscription is the regnal year rendered in Greek numerals, a dating convention unique to Alexandrian bronzes that makes precise attribution straightforward where Roman provincial issues often are not.