The paper explores a unique phalera (horse brass) found in Noin-Ula Kurgan № 20 (Northern Mongolia). The form and the decoration of the medallion, its style and composition of the scene (depicting a satyr chasing a Maenad, a subject to be traced back to the 4th century BC toreutics) show that the phalera must have been made in the late 2nd – mid 1st century BC, most probably in a Pontic workshop, from a medallion of a silver plate, or a phiale, or a conic cup, perhaps manufactured in Asia Minor in the 2nd half of the 2nd century BC. The phalera was deposed in a Hunnu burial ground between about the beginning and the middle of the 1st century BC, as the Chinese lacquered cup dated to the fourth year of the Yuan era (9 BC) was found in the same grave. The phalera is today’s easternmost find of the Hellenistic toreutics.