Drachm - Phraates - Kingdom of Elymais Arsacid Dynasty

Elymais, the semi-independent kingdom occupying the region around Susa and the lower Zagros foothills, produced coins of steadily declining silver content throughout the Arsacid period — a process well advanced by the early second century. By this point the local Arsacid rulers, nominally vassals of the Parthian empire but functionally autonomous, were striking in billon so debased that many surviving examples are copper in all but name. The kingdom was eventually absorbed by Ardashir I during his consolidation campaigns in the 220s, ending the dynasty entirely.