Watch List notes:

Theodore II, Ducas-Lascaris (?) (1254-1258). BI "Trachy ", Magnesia mint (?). D/ Christ enthroned. R/ Theodore standingfacing, holding labarum-headed sceptre, crowned by the Virgin. For the types, cf. the extremely rare AV Hyperperon D.O. IV, pl. XXXV, 1-4 and Sear 2136. BI. g. 6.31 mm. 26.00 RRR. Overweight and unlisted in the standard references. Possibly a contemporary forgery. Large edge chip. About VF/VF.

A very interesting and apparently unpublished example.