1 Grosh - Mikhail II Asen and Irina

Mikhail II Asen ruled as a minor under the regency of his mother Irina, a Nicaean princess whose family connections shaped Bulgarian foreign policy throughout this period. The joint naming on this issue reflects that regency arrangement directly — her authority was formal enough to warrant co-inscription on the coinage, an unusual concession in medieval Balkan numismatics.

Bulgaria's silver groš issues of this period draw heavily on Byzantine trachy conventions, a consequence of the empire's persistent cultural and economic orbit around Constantinople even after 1204.