Watch List notes:

John III Ducas (Vatatzes), emperor of Nicaea, 1222-1254. Hyperpyron (Gold, 25 mm, 4.34 g, 6 h), Magnesia. IC - XC Christ enthroned facing, nimbate, wearing tunic and colobion, raising right hand in benediction and holding Book of Gospels in left. Rev. John on left wearing divitision and loros, holding anexikakia in left hand and labarum in right, crowned by the Virgin on right; at sides of the Virgin's head, MP - ΘV. DOC 5. SB 2073. Well struck and with attractive red toning. Slightly double struck on the obverse as usual, otherwise, about extremely fine.