Freeman & Sear - Gemini I, Session 2 Lot: 512

      ROMAN EMPIRE. Michael V Calaphates (13 December AD 
      1041-21 April AD 1042). Gold histamenon nomisma (4.44 
      gm). +IhS XIS REX REgNANTIhM, Christ enthroned facing, 
      raising right hand in benediction and holding book of 
      Gospels in left / +MI-XAHL DESPOT, archangel Michael, 
      winged, on left, and Michael V, with short beard, on 
      right, standing facing, holding between them labarum; 
      the archangel wears tunic and mantle, while the emperor 
      is clad in saccos and loros, and is crowned by the Hand 
      of God. Berk 299. BN p. 630 (Constantinople). DO 2 
      (Michael IV, Thessalonica). Sear 1826 (Constantinople). 
      J.M. Fagerlie, "A miliaresion of Romanus II and a 
      nomisma of Michael IV," ANSMN XI (1964), pp. 227-236. 
      M.F. Hendy, "Michael IV and Harold Hardrada," NC 1970, 
      pp. 187-197. P. Grierson, "Harald Hardrada and Byzantine 
      coin types in Denmark," Byzantinische Forschungen 1966, 
      pp. 134-135. Extremely rare: probably less than eight 
      specimens exist. Nearly mint state/mint state 

      Ex Leu 15, 4-5 May 1976, lot 520. 

      This histamenon is one of the great rarities of the 
      Byzantine series, but its attribution is disputed. 
      Grierson initially gave it to Michael V Calaphates, the 
      young nephew and designated heir of Michael IV. After 
      the emperor's death Michael Calaphates was elevated to a 
      coregency with the empress Zoe, his adoptive mother; but 
      about four months later he attempted a coup by confining 
      Zoe to a nunnery. The populace was outraged and within 
      days Michael was deposed and blinded. An alternative 
      attribution to Michael IV was proposed by Fagerlie and 
      Hendy. The latter argued that this issue was minted at 
      Thessalonica, headquarters of Michael IV during his 
      Bulgarian campaign of AD 1040-1041, and that its reverse 
      type, which exceptionally shows the emperor on the 
      viewer's right instead of the left, inspired the 
      iconography of later coins of Thessalonica under Alexius 
      I, struck during his first Norman war (see the next 
      lot). Grierson was persuaded by Hendy's argument, but 
      others have been reluctant to declare the matter 
      settled. It seems entirely plausible that the ambitious 
      Michael V, in his rash grab for sole power, would have 
      issued coins in his own name both to advertise his new 
      status and to purchase support. The problem is the 
      timeframe: Zoe was exiled on 18 April and Michael fell 
      on 21 April, so that an issue of coins is possible only 
      if it had been planned in advance. Regardless of its 
      regnal attribution, this histamenon is of great 
      iconographic interest, with a beautifully rendered 
      archangel quite different from the schematic facing 
      angels of sixth- and early seventh-century solidi. 
      Estimated Value: $ 32,500 

...Sold for $39,000 USD [ approx 29640 EUR, 20670 GBP ] plus 15% buyers fee. 

Gemini I Auction Closed Jan 11-12, 2005. 

Re-used by permission of Freeman & Sear (www.freemanandsear.com) 
    and Harlan J Berk (www.harlanjberk.com).