Æ25 - Caracalla COL AVG TROA

Alexandria Troas held its colonial status — and the right to strike bronze coinage — by virtue of Augustus's formal elevation of the city, a privilege that local magistrates exploited aggressively through the Severan period. Under Caracalla specifically, the colony's output expanded considerably, likely tied to his eastern campaigns and the movement of troops through the Troad region, which would have created genuine demand for small bronze in circulation. The city never lost sight of its Augustan founding myth.