Denier - Stephen III

Stephen III came to the Hungarian throne as a teenager in 1162, immediately contested by Byzantine-backed rivals — his uncles Ladislaus II and Stephen IV — who forced him into temporary exile twice before he consolidated power. The political instability of his early reign is reflected in the irregular output of his mint, and the lightweight fabric of this denier points to a treasury under chronic strain from near-constant dynastic warfare and tribute payments to Constantinople.