Berenike II was the daughter of Magas (king of Cyrene) and Arsinoe/Apama, born in c. 267/6. Berenike II first married or was engaged to Demetrius the Fair (son of Demetrius Poliorcetes and Ptolemais) in c249, as his second marriage, which terminated shortly thereafter by his murder when he was caught in flagrante delictu with her mother Arsinoe/Apama. By him she had no children. Berenike II second marriage was with Ptolemy III (king of Egypt), probably in early 246, by whom she had Ptolemy IV, Magas, Arsinoe III and Berenike, and is presumed to have had an unknown son. Berenike is said to have participated in the Nemean Games and won (between 245 and 241 BC) and to have competed in Olympic games at some unknown date. Soon after her second husband's death in 221 BC, she was murdered at the instigation of her son, Ptolemy IV, with whom she probably was associated in the government.

Ashton connects this issue showing a female bust on the obverse with the disaster relief sent by Ptolemy III to Rhodes after the devastating earthquake of circa 226 BC. According to Strabo, the earthquake toppled the Colossus of Rhodes, but an oracle from Delphi told the Rhodians not to rebuild it as its construction had offended Helios. Ptolemy's offer to pay for the reconstruction of the magnificent statue was hence turned down, and his aid was used to rebuild the city instead.