Watch List notes:

John III, Nicea. Trachy; John III, Nicea; 1222-1254 AD. Thessalonica, Silver Trachy, 0.60g. DO-p. 604, (1) (not in DO); Sear-2121 (though not illustrated on DO pl. XLIV as Sear states). Obv: Half-length figure of Christ facing, wearing nimbus with cross and holding Gospels, [IC - XC] across field (illegible). Rx: Standing figures of John III, on l., and nimbate St. Demetrius, on r., holding between them a castle with three towers; above and between their heads, IW; on l., ?EC? (retrograde); on r., ?HMIP. According to DO the reverse legend of this rare silver trachy should be arranged in columns on the left and right, but on our specimen the letters follow one another in the normal fashion, though retrograde on the left. The low weight of our coin is confirmed by several other light examples, so seems to reflect a hitherto unrecognized currency devaluation.This coin was cut down as a result of an unrecorded monetary devaluation. It is by far the finest example known of this issue. MS

Buy Price: $1000