Michael VIII recaptured Constantinople from the Latins in 1261, ending half a century of Frankish occupation and restoring Byzantine rule — but the empire he recovered was financially hollowed out. The billon trachy had been debased so severely under the Latin interlude that it barely qualified as silver coinage. Thessalonica operated as a secondary mint throughout his reign, its output distinguishable from Constantinople issues by die work that tends toward slightly cruder execution, a product of the provincial workshop's tools rather than any shortage of skill.
Michael VIII recaptured Constantinople from the Latins in 1261, ending half a century of Frankish occupation and restoring Byzantine rule — but the empire he recovered was financially hollowed out. The billon trachy had been debased so severely under the Latin interlude that it barely qualified as silver coinage. Thessalonica operated as a secondary mint throughout his reign, its output distinguishable from Constantinople issues by die work that tends toward slightly cruder execution, a product of the provincial workshop's tools rather than any shortage of skill.