Could be Alexander III if the obverse type is Herakles rather than Apollo (Philip II). Reverse legend would indicate also. More likely Philip, they are more common. From the BMC: The reverse-types of Philip's coins are nearly all agonistic, and refer either to the games celebrated by him at Dium in honour of the Olympian Zeus (Müller, Mon. d'Alex., pp. II and 344), or, preferably, to the great Olympian games where his chariots were victorious. We have, indeed, the direct assertion of Plutarch (Alex., c. 4) in favour of the latter hypothesis, τας εν ‘ΟλÏ.μπια νικας των αρματων εγχαραττων τοις νομισμασιν. Philip was also successful at Olympia with the race-horse (ιππω κελητι; Plut., Alex., 3), a victory of which he perpetuated the memory on his tetradrachms. The horseman with kausia and chlamys is less certainly agonistic, and may (perhaps with a play upon his name) represent the king himself as a typical Macedonian ιππεÏ.ς.
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