Tetradrachm - Philoxenus

Philoxenus ruled a shrinking remnant of Bactrian Greek power in the late first century BC, squeezed between Scythian incursions from the north and the expanding Indo-Scythian presence to the south. His copper issues, including this tetradrachm, reflect a kingdom operating with degraded resources — silver had largely disappeared from the monetary supply by this point, replaced by copper denominations that retained the tetradrachm name as a nominal rather than a weight-class designation.

MIG 344 is among the later attributions in Osmund Bopearachchi's sequence for Philoxenus, placing it toward the final phase of his reign.