Recently I bought some varied Roman Provincial coins with an eye on their reverses. This is the nicest of them, an AE26 of Alexandria Troas (one of my favorite mints) by Severus Alexander (222-235). But this type exists from other 3rd century emperors, too: Caracalla and Valerian come to mind. Maybe it was issued on special festival occasions. @zumbly has a much better coin of this type. On the reverse, from left to right, you see an excitedly waving man looking to a broad-chested man with his legs wide, behind him another man whose head and legs only show, and to the right a goat-legged god with horns on his head. Probably the scene was copied from a famous sculpture, now lost. This has been interpreted as a drunk Hercules propped up by satyrs by Bellinger (who wrote in the 1920s), but more recently also as a Silenus dance, the left figure being the satyr Marsyas - who on his own also figures on Alexandria Troas coinage. In the middle is the old satyr Silenus, and at the right the god Pan with something hanging from his shoulder. This may be seen in various CNG auction records. The lettering on the reverse is a bit unusual: COL AV left, GTROA in the exergue, but nothing to the right apparently. You can see this clearly on the RPC example. 26 mm, 7.81 gr. RPC VI online 3987 (8 specimens); Bellinger A335.
Great catch! I saw that in the Naumann auction and thought it was a very nice example. The CNG theory that the reverse is a Silenus dance certainly sounds plausible. Something I'm going to have look into more. I believe that'd be his lagobolon (rabbit-bashing stick).
