Watch List notes:

John III Ducas-Vatazes AV Hyperpyron. Emperor of Nicaea. Magnesia, AD 1232-1254. Christ enthroned facing, raising hand in benediction and holding Gospels; IC-XC across upper fields / John standing facing, holding labarum and akakia, being crowned by the Virgin Mary; MHP (ligate) between them in upper field, ΘV to upper right, columnar legends to left and right. DOC 5; Sear 2073. 4.54g, 25mm, 6h.

Extremely Fine; graffito on obverse.

From the inventory of a German dealer.