Pherai, Thessaly, AR stater. struck under the tyrant Alexander, 369-357 BC. 11.55 g. 

Head of Ennodia facing three-quarters right, wearing pearl-diadem, grape-cluster earrings and necklace, torch in left field.
ALEXANDROY, Warrior on horseback galloping right, holding spear, bipennis (double axe) with head right beneath the horse.

Jameson 1106; Traité II-4, 612; BCD Thessaly I, 1309 (this coin); BMC 14 var (bipennis head left).
Extremely rare.

With permission of Numismatica Ars Classica - Auction 116, Lot 119, Oct 2019