Watch List notes:

Theodore II Ducas-Lascaris. Emperor of Nicaea, 1254-1258. AR Trachy (27mm, 3.47 g, 12h). Type II. Magnesia mint. Struck 1254/5(?). St. Tryphon standing facing, holding cross to chest; to left, (OA)/(TP)V above lis, to right, (Φω)/N above lis / Theodore, crowned and wearing loros standing facing, holding labarum and globus surmounted by patriarchal cross; Δ/ΘЄ/OΔO/POC/Є to left, Δ/K/C/OΛ/AC/KA/PII/C (sic) to right. DOC (6.4) var. (rev. legend); T. Popov, "Две уникални късновизнтийски сребърни монети," Минало 3/2017, fig. 5 (same dies); cf. LBCA 302; SB 2138. Toned, peripheral lamination on obverse. VF. Extremely rare, only one example of type in CoinArchives.

From the Iconodule Collection.