A rare occurrence of Phragmoceras imbricatum Barrande is recorded from moderately shallow marine Silurian sequences in the Carnic Alps (Austria). The specimen was collected from a condensed series of nautiloid-bearing wackestones/packstones which are documented as being one of the earliest levels of the Silurian Cephalopod Limestone Biofacies deposited along the North Gondwana margin. The presence of this genus and particular species in the Alpine area, whether as an in situ fauna or as a “stray immigrant”, during a period of global eustatic lowstand, adds new data with regard to the mechanisms of faunal exchange of nectobenthic nautiloid taxa between the Carnic Alps, the Prague Basin, SW Sardinia, Avalonia and Baltica which must have been made possible by currents connecting all five areas. It seems likely that some of the nautiloid taxa appearing in the Prague Basin during the Ludlow may have already been present in the Carnic Alps much earlier in the Silurian; these document early faunal affinities with Baltica. As well as confirming the existence of open migrational seaways between these terranes at a precise stratigraphic interval during the Silurian (lower Homerian: Wenlock), the presence of this species also indicates a prevailing more temperate paleoenvironment in these areas which this element of a usually tropical fauna could tolerate, and provides significant evidence that warm water currents reached the Carnic Alps at this time. In addition due to the bathymetric restrictions of the shells of these particular faunas, exchange by currents could not have taken place over great distances, even considering drifted individuals, and therefore indicates the relatively close positions/connections of various peri-Gondwana Terranes such as the Carnic Alps, SW Sardinia and the Prague Basin to Avalonia and Baltica during this time slice.