Basil I the Macedonian Æ 40 Nummi. Syracuse, circa AD 868-878. [Ь`ACIL]ЄIOC, bust facing, wearing crown and loros, holding globus cruciger and akakia / Large M, Θ below. BCI III 897 (this coin); P. Donald, The Last Denominational ‘M’, Spink N. Circ. 95, 1987, p. 255; DOC -; Sear -. 1.69g, 17mm, 6h.

Good Very Fine. Second recorded example.

This coin published in D'Andrea, Costantini & Ranalli, Byzantine coinage in Italy (Acquaviva Picena, 2015);
From the Italo Vecchi Collection.

This extremely rare issue is notable for being the last follis with the explicit Greek mark of value M (= 40 nummi), a denomination first introduced by the great monetary reform of Anastasius in AD 498 and tariffed at 7,200 to the gold solidus. The name follis is a nickname which actually means ‘bag’, probably after the bags they were placed in when leaving the mint.

Basil I, founder of the great Macedonian imperial dynasty, took great interest in Western affairs. However, in the early summer of 877 the new Aghlabite commander Jafar ibn Muhammad al-Tamini led a large force to seize Syracuse, which after a long siege and with no aid from the Emperor Basil forthcoming, was starved into surrender and fell on May 21, 878.