This medallion is part of a highly interesting series that has long fascinated numismatists, WHAT DO

That's a remarkable coin! Your photograph really brings the details to life, too.

 

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Is the coin actually a medallion - or a special commemorative currency that could be used to purchase things?

 

As far as I know it was a commemorative piece and not enough is known of these impressive pieces - maybe they had a value, we can hope another member can bring more information to the forum? Thanks to Greg Heinrich he found an earlier provinance from NAC in 2003

description then was:
The Roman Empire
Caracalla, 198 – 217
No.: 525
d=43 mm
Medallion, Pergamum Mysiae circa 198-217, æ 37.91 g. AUTOKRAT K MA - KOS MARKOC AUR ANTWNEINOS Laureate and cuirassed bust r. with aegis on breast-plate. Rev. EPI CTR IOUL ANQIM OU PERGAMENWN Emperor on horse r. holding sceptre, followed by Victory crowning him; to his r., two prisoners with Phrygian helmet at sides of trophy. In exergue, PRWTWN TRIC / NEQKORW / N. von Fritze, Pergamon, pl. VII, 7. SNG Frane V Mysia 2225 (these dies).
An impressive medallion bearing a realistic portrait. Extremely fine

 

Wow, that's an amazing OP_beauty (congrats on that delicious medallion)

... I have a cool example to add as well ...

Mysia – PERGAMON,
Cistophoric Tetradrachm
123 - 104 BC
Diameter: 27 mm
Weight: 12.4 grams
Obverse: Cista mystica within ivy wreath
Reverse: two serpents entwined around bowcase; BO above

 

Dear @SwK, what an exceptional and admirable piece to own. I found some information about it on a French website by searching 'Caracalla medaillon' (uncheck the box "En Stock") here.

This is a coin of 16 assaria; there are also smaller variations (10 assaria). On that website cgb.fr several of these coins were offered in the last 15 years or so, but all of these in much worse condition. I'm translating the description of the first coin for you, from the French, for it gives a lot of insight. I'm sure, though, there must be American or British numismatical publications for you to be found.

"This medallion (43 mm, 41,67 gr.) refers to the worship Caracalla vowed to Aesculapius. Traveling in Asia Minor in 214, the emperor visited the site of Pergamon and sacrificed to Asclepius in his sanctuary, hoping to regain health. The visit of the Emperor and his ablutions gave the opportunity to the issue of a very important coinage.
The von Aulock collections and the Copenhagen museum contain two coins with the same reverses, but of much smaller diameter. In a recent article, M. Marcellesi, 'À propos d'une monnaie de Caracalla trouvée à Thasos: Le monnayage de Pergame et la troisième néocorie de la cité', published in 1998 in the Bulletin de la Société Française de Numismatique, reported on these Caracalla medallions, p.57, note 26."

 

Found another Caracalla 16 assaria.

 

it becomes more interesting as members build a new picture of these amazing pieces - look forward to seeing moreeeeeeeee

jeff