Obv: Laureated Head of Melquarth r.
Rev: Eagle with closed wing standing l on prow. Palm to right and club to left. Date LK-digamma = 126 = year 0 or 1 BC/ 1 AD (turn of milennium) KP and monogram to right
Metal: Silver 14.08 grams, 24.4 mm diameter. Condition: EF.
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Octavian came to the middle east in 20 BC where he made various changes including giving gifts to some cities and extracting additional tribute from others. In Tyre and Sidon, where there had been disturbances, Octavian settled a dispute between the two cities, however, it appears that he took away Tyre's privilage to mint its own coins. It appears that Herod was able to influence Augustus to maintain the production of the high grade (minimum 96% silver) "shekel of Tyre" at their own mint near or at Jeruasalem; so that the Jews could continue to pay their temple tax in a religiously sanctioned currency. ref 20 - Mathrew 26 14-16. Thus the Kappa-Rho (KR) monogram on the reverse field of shekels of Tyre minted after 19 BC. Although this theory that the mint was moved to near or at Jerualem is not universally accepted, one thing for sure is that these high grade silver coins were produced exclusively for the Jews to use for payment of the one-half shekel temple tax. At the same time other mints in the area, primarily Antioch, began producing debased imperial tetradrachms for general circulation in the other Eastern Roman provinces. According to Gresham's law the new debased coins (approximately 80% silver) should have driven the higher grade shekels of Tyre out of circulation, yet in Jerusalem the higher grade coins were part of the local economy. A passage in the Mishna states: "What is Tyrian silver? It is a Jerusalemite". Even if the "KP" coins were not minted in Jerusalem they became know as "Jerusalem silver" due to their exclusive use by the Jews, who subsequently sent most of these coins to Jerusalem for payment of the temple tax.

This coin tells a unique story on its own, in that it was struck in the year 1 BC/ 1 AD. That is the date is LK-digamma = 126 = year 0 from start of issue in 126 BC.