Watch List notes:

John III Ducas (Vatatzes), emperor of Nicaea, 1222-1254. Hyperpyron (Very base gold, 24.5 mm, 4.46 g, 12 h), Magnesia, 1234-1254?. IC - XC Christ, nimbate, seated facing on a backless throne, raising right hand in benediction and holding Gospels in left. Rev. Iω ΔΕCΠΟΤΗ - (Tω) ΠΡ/Φ/V John III, on left, holding labarum in right hand and anexikakia in left, being crowned by the Virgin, on right; in upper field, (MHP) - ΘV. DOC 4. SB 2073. Deeply toned and well struck. About extremely fine.