Anastasius’ Copper Curency Reform
A Great Rarity of the Byzantine Series

Triton XIX, Lot: 688. Estimate $4000. Sold for $9000. This amount does not include the buyer’s fee.

Anastasius I. 491-518. Æ Follis (30mm, 18.00 g, 6h). Constantinople mint, 5th officina. Struck circa 512. [D] ANASTA–SIVS P P AVC (first S horizontal), diademed, draped, and cuirassed bust right / Constantinopolis enthroned left, with shield at side, holding globus cruciger in outstretched right hand; M to left, star to right; CONЄ. DOC –; MIBE 19 (same obv. die); SB 22A. VF, dark green patina, holed. Extremely rare, possibly the third known and the only in private hands.

The enthroned Constantinopolis type of Anastasius was struck in three denominations (follis, half follis, and decanummium), all of which are extremely rare today. Discussing this issue in relation to Anastasius’ copper currency reform, Hahn (MIBE p. 29) notes: “[a]t first the doubling of the weight standard in 512 was accompanied by some uncertainty whether to make the flans broader or thicker in order to meet the new standard. An exceptional issue struck on thick flans shows a figural representation of the seated Constantinopolis on the rev. flanked by the value mark to the left and star as privy mark to the right. It is represented by only one or two specimens for each denomination so that it has been supposed to be an extraordinary although full issue. Apart from the Tyche on Antioch pentanummia this is the only pictorial design on reformed copper coins. There is no obvious occasion (such as a secular anniversary of Constantinopole) with which the issue might be connected; its explanation as a first, experimental issue on the heavy standard therefore seems more likely.”