Sale: CNG 69, Lot: 1899. Estimate $1000.  Closing Date: Wednesday, 8 June 2005.  Sold For $4500. This amount does not include the buyer’s fee.

MICHAEL VIII Palaeologus. 1261-1282. AV Hyperpyron (4.21 gm, 6h). Magnesia mint. Struck circa 1261. The Virgin enthroned facing, holding the nimbate head of the infant Christ; throne back decorated with saltires and pellets / Michael standing facing, being presented by St. Michael, who stands behind him, to Christ enthroned left, holding scroll. DOC V 1; Bendall 3A; SB 2241. Good VF for type. Extremely rare, fewer than ten known. ($1000)

This important piece heralds the transition between the rump empire at Nicaea and the glorious restitution of Palaeologan rule at Constantinople by Michael VIII. His gold issue struck at Magnesia before the reconquest survives in possibly only one example, SB 2238 with Christ enthroned / Michael crowned by Christ. This second type, with the victorious Michael kneeling and offering prayers to Christ, is likely an allusion to his successful campaign to oust the Crusaders from the ancient capital. His last and most common hyperpyron type shows the Virgin within the walls of the city. Grierson suggests that the three varieties of this Type II hyperpyron, with saltires, B|B or K|K on the throne back, were struck at both Magnesia and Constantinople as the Byzantine court transfered to its ancestral home. The last two varieties refer to Basileus basilewn kai Kurios kuriwn-"King of Kings and Lord of Lords," a victory acclamation.