Obol - Augustus ΣΕΒΑΣΤΟΥ, L ΛΗ

Struck in regnal year 38 of Augustus — rendered on the coin as L ΛΗ — this places production in 8–9 AD, just five years before Augustus died at Nola. Alexandrian bronze coinage of this period was administered under Roman prefectural authority rather than any independent civic mint, with output calibrated to Egyptian local exchange needs entirely separate from the imperial denarius system. Egypt remained a closed monetary zone: foreign coins were exchanged at the border and melted.