AR25 - Vespasian ΑΛΕΞΑΝΔΡΕΙΑ

Alexandria's mint operated under tight imperial supervision, and the accession of Vespasian in 69 AD presented an unusual political circumstance: Egypt had backed him early, with the legions there proclaiming him emperor before he had secured Rome. The Alexandrian issues of his first regnal year are consequently among the earliest coins struck in his name anywhere in the empire — the mint was, in a real sense, ahead of the political outcome.

Billon tetradrachms from this initial year show variable silver content, reflecting the inherited debasement policies of Nero's reign that Vespasian had not yet moved to reform.