John III Ducas (1222-1254). AV (debased) Hyperpyron, Empire of Nicaea, Magnesia mint, 1232-1254. D/ Christ Pantokrator seated facing, cross-nimbate, raising right hand for benediction and holding book. R/ Emperor standing facing, crowned by Virgin Mary. Sear 2073. AV. g. 2.84 mm. 25.00 Good VF.
Debased coins were typical for this era of the Byzantine Empire.