Catalog
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| Issuer | Second Bulgarian Empire |
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| Year | 1371-1395 |
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| Shape | Round (irregular) |
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| Obverse description | Lion rampant to left occupying the central field, rendered in a bold, schematic style typical of late Second Bulgarian Empire billon coinage. A group of three pellets is positioned behind the lion's head, with two additional pellets placed behind the tail, serving as decorative fillers in the field. The flan is irregular and slightly off-round, consistent with hand-struck hammered production. The surface shows typical billon patination with moderate die wear. |
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| Mint | Veliko Turnovo Mint |
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| Additional information |
Ivan Shishman ruled during the terminal fragmentation of the Second Bulgarian Empire, when Ottoman pressure had reduced the once-extensive tsardom to a rump state centered on Tarnovo. His reign saw Bulgaria effectively become an Ottoman vassal by the late 1370s, and Tarnovo itself fell to Bayezid I in 1393 — two years before Shishman was captured and executed. Billon trachea from this period were struck in conditions of severe political contraction, and the coinage reflects a treasury operating under existential duress rather than confident sovereignty.