The coins circulating in the Middle Byzantine Era (867-1081) were, in general terms, the same with the ones as the previous centuries. In this way, the golden coins were used for large scale transactions, the copper for everyday minor transactions and the silver for medium ones. The silver coins (the miliaresion and its subdivisions) were normally issued and widely circulated during the whole of this period. As regards the copper coins of the previous centuries (the pholles and their subdivisions), the subdivisions of the phollis fell into gradual disuse and, due to the inflation, disappeared: at first this occurred with the smaller coins (the dinummia and the pentanummia) and followed by the half pholles and the dekanummia. There remained in use only the pholles which, however, at the end of the 11th century disappeared as well.
The golden coins (nomisma or solidus and its subdivisions) suffered devaluations in this period along with changes in form as well. The nomisma, with its gold content of 24 carats, changed its aspect during the reign of Basil II (976-1025) from being the traditional small, thick and solid coin into a thin and broader one like its contemporary miliaresion. Later, in the 11th century, it changed even more: it was no longer a plain coin but rather a concave one, "skyphate" as it was called. Its name was also changed: it was called histamenon as distinct from the new golden coin circulated for a first time by Nikephoros II (963-969), the tetarteron. This was lighter than the former one nomisma and of lower gold content (22 carats) and had the appearance of the former gold nomisma: namely thick, small and solid. The reasons that caused the appearance of this coin were rather complex. The tetarteron, namely, was a golden coin that resembled the former golden nomisma in order to be identified by the citizens as genuine. However, it was devalued (to 22 carats) for reasons of economy, and had the same weight as the Arabic golden denarius so as to be usable in the regions the Byzantines had re-conquered from the Arabs without causing any confusion. Finally the subdivisions of the golden coin, semisses και tremisses, stopped circulating from the end of the 9th century and thereafter.