During the 2nd century BC, the Greeks in Bactria issued coins made of a cupro-nickel alloy for which the existing analytical data is inadequate. A representative group of the cupro-nickel and contemporary copper coins was therefore analyzed by atomic absorption and also examined using a scanning electron microscope (SEM). The results showed that the composition of the cupro-nickel is fairly constant and more consistent with manufacture from a local raw material source rather than very distant sources as has been previously suggested.