Tetarteron - Basil II and Constantine VIII

The tetarteron was introduced by Nikephoros II Phokas around 963 AD as a lighter gold coin intended for domestic taxation, deliberately set below the weight of the traditional nomisma to exploit the difference between the two in state revenue collection. The scheme was deeply unpopular, and contemporary sources, including Leo the Deacon, describe public resentment at being paid in the lighter coin while taxes were assessed in the heavier one.

Basil II's 49-year reign — the longest of any Byzantine emperor — saw the format stabilized rather than reformed. DOC III-2 no. 15b places this among the later issues of the joint reign, struck after Constantine VIII had been reduced to a largely ceremonial co-emperor.