Alexander the Great died in 323 BC, leaving a vast coinage under his own signature. Inheritors of his kingdom continued his coinage, honoring not only Alexander, but also Hercules. These coins are commonly called “posthumous issues.”
This coin was struck by Seleukos I, Nikator, who was destined to be the longest survivor of Alexanders’ successors. It took Nikator actually two tries before he was able to establish and hold the Satrapy of Babylon which he was alloted after Alexanders’ death.
He received Babylon in 321, and five years later was ousted from his position. He fled to Ptolemy I in Egypt. In 312 he regained his seat in Babylon and it is from this date that the Seleucid Kingdom is dated. He gradually consolidated his power and in 305 took the title of king. By 281 he ruled all of Alexanders’ kingdom, except Egypt. This led directly to his death by assassination in 280 BC, by a renegade Ptolemy heir fearing his takeover of Egypt.