AR24 - Hadrian L Β

Hadrian's earliest Alexandrian issues, including this second-year piece, were struck within months of his accession following Trajan's death at Selinus in August 117 — a succession that remained politically tense, with four senior senators executed almost immediately under circumstances Hadrian later blamed on the Senate itself. The Alexandria mint moved quickly to assert the new reign, producing a substantial volume of billon tetradrachms in regnal year two before the coinage types began to diversify and stabilize.

The billon content of Alexandrian tetradrachms had been declining since the first century, and by Hadrian's reign the silver percentage was well below 20%.