The Cambridge History of India, Vol. I: Ancient India v1.c30.s3.38

v1.c30.s3.38

It would appear then that, while Hermaeus may have been reigning for some time before and after c. 40 B.C., as would seem to be indicated by the square □ in his later Greek coin-legends², a coinage bearing his name and his types was issued by his conquerors until a much later date, in the same way and for the same reasons that the East India Company continued for many years to strike rupees bearing the name of the Mughal Emperor, Shāh ’Alam. That these conquerors were not Kushāṇas may, from chronological considerations, be regarded as certain. That they were the Pahlavas of Kandahār is made probable by the evidence of the coins which were struck by Spalirises with the characteristic type of the Yavana kings of Kābul, ‘Zeus enthroned’ (Pl. VII, 38)³. It was probably not until at least seventy years after the death of its last Yavana king that the Kābul valley passed from the Pahlavas to the Kushāṇas, the next suzerain power in Afghānistān and N.W. India.