It's a silver drachm of the Vologases III type (105-147). A long reign which was plagued in the late 110s by a catastrophe: a Roman invasion led by emperor Trajan. Vologases was forced to flee his royal capital Ctesiphon, near today's Baghdad, which was taken and plundered by the Romans. He could seek refuge in Iran, in Ecbatana (modern Hamadan). The aristocracy and communities of the Parthian Empire remained faithful to him. In Ctesiphon, Trajan attempted to create a new province of Assyria but uprisings occured in several cities, Roman garrisons were attacked, causing bloody repression, well... the whole thing soon became one of those unwinnable Middle East wars we Westerners know too well. Trajan eventually withdrew from Ctesiphon, leaving there a puppet king, Parthamaspates, who soon ran away too... Vologases came back in Ctesiphon, restored his authority and later negociated with Hadrian an official border between their two empires. The Vologases III drachms from Ecbatana are very common, probably because of the Roman invasion: the king had to recruit a vast army... The types of these Arsacid drachms were always the same since the 3rd c. BC, showing Arsakes (founder of the dynasty) sitting r. and holding bow. The Greek legends seem unreadable at first glance but we can recognize the classic titles of the Hellenistic monarchs : Basileos basileon ((money) of the King of Kings), Arsakou (Arsakes), Euergetou dikaiou (benefactor and just) , Epiphanous Philhellenos (visible god and friend of the Greeks).
Vologases III (105–147 A.D.) AR Drachm O: Diademed bust left, wearing longer pointed, beard. R: ⧠ΛIIΛͰΛC ⧠ΛIIΛͰΛͶ ΛͰIΛNO(V) ΛIXΛIOV (E)Î IΦΛͶOVC (ΦI)ΛIΛΛHX(OC), Archer (Arsakes I) seated right on throne, holding bow; monogram below bow. Ekbatana mint 3.75g 20mm Sellwood 78.5 (Vologases III); Sunrise –; Shore 415 (Vologases III).