It's too bad English doesn't have a word which means exclusively "hieraeus," as distinct from "presbuteros," but it doesn't. The original derivation and application of the word "priest" in English was to Christian presbyters.
And the Old Covenant is inferior to the New because its sacrifice and priesthood were only an image of the New covenant's sacrifice and priesthood, both of which flow through Christ.
Translators of the NASB seem to think that hieraeus should be translated priest ... and presbuteros should be translated elder ...
Ill go with them ...