the letter mem below the head of horse is the initial of MHNT, which means 'the camp". This coin was minted for the soldiers' pay.
DiShekel /Tet Carthage-LIBYAN UPRISING - Mercenaries issue Mercenary War 241-238 BCE 7.36g AR DiShekel Herakles Head in Lion's Head- Lion walking; Punic M above; LIBYA below R SNG Cop 240f Overstrike Coins were struck in the name of Libya and "M", which has been taken as either "machanat" - the Camp (of the mercenaries), or perhaps Matho, their leader @TIF was the savior with some incredible detective work to SOLVE the overstrike / Understrike coin https://www.cointalk.com/threads/overstrike-detective-work.335938/ “ The wheat grains are partly off flan on the example host coin but I think in total it is enough to declare it a definite match for the undertype .” She ultimately came down to the Understruck coin... and I actually had an example in my collection! Bizarre coincidence. Carthage Zeugitania Libyan Revolt AR Shekel 24mm 7.34g 241-238 BCE Wreathed Tanit Horse stndg control mark and Punic M SNG Cop 236