AR20 - Diocletian L Δ

Year 12 of Diocletian's reign in Alexandria corresponds to 295–296 AD, the eve of his sweeping monetary reform. The following year, his edict overhauled the Egyptian coinage system entirely, ending the long-standing Alexandrian tetradrachm tradition that had persisted — in increasingly debased form — since the Ptolemaic period. Coins struck in this final phase contain so little silver that "billon" is almost charitable; some examples test below two percent fine.

The L Δ date mark places this piece in the last series before the reform coins arrived, making it a terminal issue of a 400-year-old provincial monetary tradition.