The Coin Cabinet
Auction 70 Part I 31 Aug 2022
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Ch VF Strike: 5/5 Surface: 2/5 | BYZANTINE EMPIRE. Michael VII, 1071-1078.
Gold histamenon, ND (1071-1078).
Emperor Michael VII had minimal interest in ruling, preferring to focus on his academic studies whilst leaving the reigns of government in the hands of his mother Eudokia, his uncle John Doukas, and his finance minister Nikephoritzes. The empire was struggling both militarily and economically at this time, so to counter this, Michael's advisors debased the coinage for a second time in forty years. This decision can't have been taken lightly as the Byzantine coinage had been a symbol of stability across the Mediterranean, leading to it being described as the "Dollar of the Middle Ages". History was not forgiving of this decision, as Michael gained the nickname "Parapinakes" or "Minus a quarter" (in reference to the declining value of the currency) as a result.
Michael was overthrown in 1078, but did not meet a violent end like many of his contemporaries, he lived in seclusion as a monk for the rest of his life.
Obverse bust of Christ facing, wears tunic, himation, & nimbus cruciger, IC - XC (Greek abbreviation: Iησοúς Xριστος - Jesus Christ) / reverse, bearded bust facing, wears loros with six jewels on collar and crown with pendilia, labarum in right hand, globus cruciger in left hand;
Ch VF Strike: 5/5 Surface: 2/5.
Diameter: 21 mm.
Weight: 4.28 g.
Composition: Gold.
PLEASE NOTE: 6% Buyer Premium + VAT on this lot. No other fees, including live bidding. Delivery cost will be added to your order.
Gold histamenon, ND (1071-1078).
Emperor Michael VII had minimal interest in ruling, preferring to focus on his academic studies whilst leaving the reigns of government in the hands of his mother Eudokia, his uncle John Doukas, and his finance minister Nikephoritzes. The empire was struggling both militarily and economically at this time, so to counter this, Michael's advisors debased the coinage for a second time in forty years. This decision can't have been taken lightly as the Byzantine coinage had been a symbol of stability across the Mediterranean, leading to it being described as the "Dollar of the Middle Ages". History was not forgiving of this decision, as Michael gained the nickname "Parapinakes" or "Minus a quarter" (in reference to the declining value of the currency) as a result.
Michael was overthrown in 1078, but did not meet a violent end like many of his contemporaries, he lived in seclusion as a monk for the rest of his life.
Obverse bust of Christ facing, wears tunic, himation, & nimbus cruciger, IC - XC (Greek abbreviation: Iησοúς Xριστος - Jesus Christ) / reverse, bearded bust facing, wears loros with six jewels on collar and crown with pendilia, labarum in right hand, globus cruciger in left hand;
Ch VF Strike: 5/5 Surface: 2/5.
Diameter: 21 mm.
Weight: 4.28 g.
Composition: Gold.
PLEASE NOTE: 6% Buyer Premium + VAT on this lot. No other fees, including live bidding. Delivery cost will be added to your order.