Sale: CNG 66, Lot: 1774. Estimate $500.  Closing Date: Wednesday, 19 May 2004.  Sold For $1200. This amount does not include the buyer’s fee.

NICEPHORUS II Phocas. 963-969 AD. AV Histamenon Nomisma (4.40 gm). Constantinople mint. Nimbate (three pellets in arms of cross) facing bust of Christ, raising hand in benediction and holding Gospels / Facing busts of the Virgin, nimbate, and Nicephorus, wearing crown and loros, holding patriarchal cross between them. DOC III 4; SB 1778. Near EF. ($500)

From the Christopher Connell Collection.

Nicephorus II introduced the first change in the Romano-Byzantine gold coinage system since the introduction of the solidus by Constantine over 600 years before. He produced two gold coins, of identical type, one the traditional solidus, now termed the histamenon ("isthmi"-"set up" to the traditional weight) and a new denomination, the tetarteron ("tetartron"-less a "quarter" of a tremissis in weight). Explanations vary, but the introduction of the new denomination may have simply been an accounting ploy; taxes had to be paid in histamena, disbursements were paid out in tetartera. The confusion wrought by this plan soon forced a change in the types of the tetarteron, which nonetheless remained in use until Alexius I reformed the coinage again in 1092.