Thehyperpyron (Greek:νόμισμα ὑπέρπυρον,nómisma hypérpyronlit. 'highly refined')[1] was aByzantine coin in use during thelate Middle Ages, replacing thesolidus as theByzantine Empire's standard gold coinage in the 11th century. It was introduced by emperorAlexios I Komnenos.
The traditional gold currency of the Byzantine Empire had been thesolidus ornomisma, whose gold content had remained steady at 24carats for seven centuries and was consequently highly prized. From the 1030s, however, the coin was increasingly debased, until in the 1080s, following the military disasters and civil wars of the previous decade, its gold content was reduced to almost zero.[2] Consequently, in 1092, EmperorAlexios I Komnenos (r. 1081–1118) undertook a drastic overhaul of theByzantine coinage system and introduced a new gold coin, thehyperpyron (meaning "super-refined"). This was of the same standard weight (4.45grams) as thesolidus, but only 20.5 carat purity (0.854 fineness) instead of the standard 24 carat, resulting in a reduced gold content of only 4.1grams instead of 4.8 grams. The lower purity was due to melting down and inclusion of earlier debased coins.[3]
Thehyperpyron remained the standard gold coin until gold coins ceased to be minted by the Byzantines in the mid-14th century. It too, however, was subject to gradual debasement: under theEmpire of Nicaea (1204–1261), its gold content fell gradually to 18 carats, underMichael VIII Palaiologos (r. 1259–1282) to 15 and under his son and successorAndronikos II Palaiologos (r. 1282–1328) to 12 carats. At the same time, the quality of the coins declined as well, and in the 14th century, their weight was far from uniform.[4] The lasthyperpyra, and thus the last Byzantine gold coins, were struck by EmperorJohn VI Kantakouzenos (r. 1347–1352). The name remained in use thereafter solely as amoney of account, divided into 24keratia.[5]
The name was adopted in various forms by Western Europeans (Latin:perperum,Italian:perpero) and theSlavic countries of theBalkans (perper,iperpero, etc.) designating various coins, usuallysilver, as well as moneys of account.[6] More often in the West thehyperpyron was called thebezant, especially among Italian merchants.
In the earlyKomnenian period, thehyperpyron was the equivalent of threeelectrumtrachea, 48billontrachea or 864coppertetartera, although with the debasement of thetrachea it eventually came to rate 12 electrumtrachea and 288 to 384 billontrachea.[7] In the 14th century, thehyperpyron equalled 12 of the new silverbasilika, 96tournesia, 384 coppertrachea and 768 copperassaria.[8]
Media related toHyperpyron at Wikimedia Commons
