Watch List notes:

Michael III, 'the Drunkard' (842-867), AR Miliaresion, 1.54g, cross potent on three steps, rev. text in five lines (DOC 5; Sear 1690), ragged edges and surface porosity, otherwise a bold very fine.
provenance
Gray collection
Spink Numismatic Circular, August 2000, no. 3004 (illus.) - £150
Estimate: £120 - £150