The Reforms of Alexius I Comnenus

Inheriting a monetary system that had become extremely debased under his predecessors, Alexius I (1081-1118) reformed coinage in 1092. He replaced the old histamenon with the hyperpyron, a slightly debased gold coin. A new electrum-alloy aspron trachy was valued at one-third of a hyperpyron. Alexius also introduced the small bronze tetarteron which drove the old heavy folles out of circulation.