English: KINGS of MACEDON. Alexander I. 498-454 BC. AR Oktadrachm (28.56 gm, 10h). Struck circa 470-460 BC. Horseman, wearing chlamys and petasos, and holding two spears, leading horse right; caduceus head on horse's rump / ALE-XA-ND-RO around quadripartite square, all within larger incuse square. Raymond Group II (unlisted dies); AMNG III 31; HPM pl. XIII, 7-8; SNG ANS 22; SNG Alpha Bank -. Good VF, toned, very minor porosity, reverse slightly double struck. ($10,000)

From the William and Louise Fielder Collection.

The appearance of the caduceus head on the horse's rump occurs on a number of oktadrachms throughout the reign of Alexander, and Raymond believes it is a reference to the local Apollo-Hermes cult. Although only a few specimens now exhibit the caduceus, its placement on a high point in the coin's surface may have resulted in its erasure on most specimens due to wear. The symbol also appears on the fractional coinage of Alexander and Perdikkas II.