Sale: CNG 70, Lot: 1134. Estimate $300.  Closing Date: Wednesday, 21 September 2005.  Sold For $755. This amount does not include the buyer’s fee.

NICEPHORUS III Botaniates. 1078-1081 AD. EL Tetarteron (3.84 g, 6h). Constantinople mint. Facing bust of Christ, holding Gospels; two pellets in arms of cross / +NIKEFR DECPT', half length facing bust of Nicephorus, holding labarum and globus cruciger. DOC III 4; SB 1884B. VF, some corrosion. Rare. ($300)

The fineness of the histamenon and tetarteron had remained stable for several decades after their introduction under Nicephorus II, but by the reign of Michael IV (1034-1041) a wave of steadily more progressive debasement began. The fineness of the gold coinage of Nicephorus III was barely 9 carats (37.5% pure). This coin, clearly an official issue, has a plating of higher fineness gold over a more base gold interior, visible through the corroded spots on the coin.