Coins of the kingdom of Khwarazmia from the ancient era are extremely rare, and consist of only a handful of examples. The coinage begins with barbarous imitations of tetradrachms of Eukratides I of Baktria, but in the last century BC, the Khwarazmians develop their own types, assimilating characteristics of Baktrian, Parthian, and Indo-Skythian prototypes. On the coins of this king, the Eukratides/Heraios prototype tetradrachm has a bust similar to the Parthian style with Nike crowning the king, and a Skythian-like tamgha on the reverse that serves as a symbol of all Khwarazmian coins until their demise in the 8th or 9th century AD. The bust also has purely native characteristics, such as the cap-like headdress. Truly a wonderful example of the ancient coinage of central Asia.
KINGS of KHWARAZMIA. Artav (Artabanos). Circa 1st-2nd century AD. AR Tetradrachm (13.29 gm, 1h). Bearded bust right, wearing cap-like headdress with posterior flap; behind, Nike flying right, crowning king with laurel wreath held in his right hand / ΙΥΙΥΕΩΙΕ ΜΕΛΥΙ ΕΙΛΥΙΛΥ (blundered Greek legend), king on horseback right; tamgha behind. B.I. Vainberg, Monety drevnego Khorezma (Moscow, 1977), pg. 109, 7 = CAAU 307; S.P. Tolstov, "The Coins of the Shahs of Ancient Khwarizm and the Ancient Khwarizmi Alphabet," Vestnik drevney Istorii (Moscow, 1938), pl. VI, 1 = R.B. Whitehead, " Notes on the Indo-Greeks, Part II," NumChron 1947, pg. 38, fig. 3 = Göbl, Dokumente, pl. V = MIG Type 498.
