Watch List notes:

John III Ducas-Vatazes Æ Hyperpyron. Emperor of Nicaea. Uncertain mint, AD 1222-1254. Christ Pantokrator enthroned facing; "grenade" above throne to right, IC-XC across upper fields / John standing facing, holding labarum with two pellets on shaft and akakia, being blessed by the Theotokos; IѠ ΠЄ Π (or similar) downwards to left, ΘV Ѡ ΠP Φ V (or similar) downwards to right. Roma Numismatics - Studia Nummorum 07122021#02, Sigla D, 46 (O3 - this coin); for prototype, cf. DOC 12 and Sear 2073. 2.50g, 24mm, 7h.

Near Mint State.

This coin cited in S. Bendall, 'An Unusual Hoard of Hyperpyra of John III' (2018), Roma Numismatics - Studia Nummorum 07122021#02. Available online at: romanumismatics.com/ejournal;
From the inventory of a UK dealer.