Michael III "the Drunkard", with Theodora. 842-867. AV Solidus (20mm, 4.34 g, 6h). Constantinople mint. Struck circa 843-856. VF.

CNG Feature Auction 133
Lot: 705. Estimated: $ 5 000

Byzantine, Coin-in-Hand Video, Gold

Sold For $ 16 000. This amount does not include the buyer’s fee.

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Michael III "the Drunkard", with Theodora. 842-867. AV Solidus (20mm, 4.34 g, 6h). Constantinople mint. Struck circa 843-856. Nimbate facing bust of Christ Pantokrator, raising hand in benediction and holding Gospels / Crowned facing half-length figures of Michael, wearing chlamys, and Theodora, wearing loros; cross above, • between. DOC 2; Füeg 2.B (this coin cited in corpus); SB 1687. Toned, edge mark. VF. Rare. This coin is erroneously listed in the Füeg corpus under 2.A. Furthermore, the pedigree to the Goodacre Collection (Christie’s, 22 April 1986), lot 229 = The Coin Cabinet Kallista 4 (14 May 2026), lot 411 is likewise in error.

From the Best Collection of Byzantine Coins. Ex Numismatica Ars Classica 24 (5 December 2002), lot 437; Classical Numismatic Group XXXIII (15 March 1995), lot 1419; Spink 106 (with Christie’s, 11 October 1994), lot 246.

Michael III was only two years old when his father Theophilus died in 842. His mother Theodora as regent was the effective ruler of the empire, and the first coinage of his reign gives her prominence on the obverse, relegating Michael to the reverse. Michael was generally kept in the background, and is even overshadowed on the coinage by his sister Thecla on his first solidus issue (SB 1686). With Michael in isolation, Theodora maintained the empire with the assistance of her brothers, Bardas and Petronas, along with Theoktistos, the logothete of the dromos. During Theodora’s regency, she brought an end to the second iconoclastic controversy and demonstrated herself as an effective and capable ruler. However, in a typical example of Byzantine family intrigue, Theoktistos moved against Bardas, who in turn conspired with the young emperor in 856 to remove his mother’s regency and eliminate Theoktistos. Theoktistos was ultimately killed and Theodora was removed from power and confined to a convent. The conspiracy continued and Bardas was murdered in 865 by Basil, an ambitious court official who befriended Michael and soon became co-emperor. Basil proceeded to promptly eliminate his benefactor shortly thereafter.

Although Michael was given the unflattering epithet the "Drunkard," this smear on his name was perpetuated by Basil to justify his seizure of power. Michael appears to have been a conscientious ruler and capable military leader, his only fatal failing being that he was too easily swayed by his unscrupulous associates.

The final winners of all CNG Feature Auction 133 lots will be determined at the live online sale that will be held on 15-16 September 2026.

CNG Feature Auction 133 – Session Three – Lot 595-896 will be held Wednesday morning, 16 September 2026 beginning at 9:00 AM ET.

Winning bids are subject to a 22.5% buyer's fee for bids placed on this website and 25% for all others.

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