Byzantine coins

Byzantine coins: the Roman Empire in the east

Byzantine coins are the coinage of the Eastern Roman Empire, which survived the fall of the West in 476 and lasted until Constantinople fell to the Ottomans in 1453. Numismatists usually start the Byzantine series with the monetary reform of Anastasius I in 498. This category holds Byzantine bronze coins from the 6th to the 11th century, from the large folles of Anastasius to the anonymous folles with the bust of Christ.

What do the letters M, K and I mean?

Anastasius’ reform introduced a large bronze coin, the follis, with its value written as a Greek numeral on the reverse. M stands for 40 nummi, K for 20 and I for 10. A follis is therefore marked M, a half follis K, and the decanummium I. The coins in this category include all three, from emperors such as Anastasius I, Tiberius II Constantine, Maurice Tiberius and Phokas.

Below the value mark, most coins also name the mint, such as CON for Constantinople, and many add an officina letter for the workshop that struck them. Other important mints were Nicomedia, Cyzicus and Antioch. From the reign of Justinian I (527–565) many folles also carry the emperor’s regnal year, written ANNO with a numeral. That is why some coins here can be dated to a single year, such as 595/6 or 602/3.

The anonymous folles and the later coinage

Under John I Tzimiskes (969–976) the emperor’s name and portrait disappeared from the bronze coinage. The anonymous folles show the bust of Christ on the obverse, and the earliest classes read “Jesus Christ, King of Kings” in Greek on the reverse. They were struck in a series of classes for about a century. Scholars date the classes to emperors by style and by which class is struck over which, so the dates are approximate. Class G, for example, is placed around 1068–1071.

Gold, silver and the end of the coinage

Alongside the bronzes, the gold solidus was one of the most stable coins of the Middle Ages until it was debased from the 1030s. In 1092 Alexios I introduced a new gold coin, the hyperpyron, together with cup-shaped coins known as trachy. In the last century of the empire no gold was struck at all, only silver and copper.

What do collectors look for in Byzantine coins?

• Legible marks: a clear value mark, mint and year make it possible to attribute a coin precisely.
• Overstrikes: Byzantine bronzes were often struck over older coins, and traces of the earlier design are common. They are part of the coin’s history, but a clear main type is preferred.
• Patina: an even, stable patina is preferred. Avoid coins with active corrosion, and read how to clean Roman coins (and when not to) before you touch an old bronze.
• A place to start: Byzantine bronzes are often affordable, and many collectors begin their ancient collection here.

The anonymous folles and the religious imagery of the coins are also discussed in our article on the widow’s mite. Earlier coins of the empire are found in Roman coins 314–476 AD, and the gold dinars of the Islamic world in gold coins from the Middle East.