Helmeted head of Athena left
Φ-A-P-Σ ("Phars"), Horse's head right
Pharsalos was one of the most important cities of Ancient Thessaly. It is most famous for the battle of Pharsalos in 38 BC in which Julius Caesar was victorious over Pompey, ending the wars of the First Triumvirate, leading to the end of the Roman Republic. In ancient times, the thessalian plains were famous for horse-rearing in ancient times. Alexander the Great's own horse was from Pharsalos. It is therefore very fitting that the coins minted in Pharsalos display a horse's head on the reverse.