Tsar Mikhail III Shishman

Name: Tsar Mikhail III Shishman (10 leva, 2023)
Brand: Bulgarian National Bank
SKU: BC-2023-06

2023 · 10 leva · Bulgarian National Bank

Tsar Mikhail III Shishman (2023), obverse — Obverse · Official image: Bulgarian National Bank

Specifications

Metal: Silver 999/1000 partially gold-plated
Weight: 23.33 g
Fine silver content: 23.31 g (0.7493 oz t)
Diameter: 38.61 mm
Quality: Proof, mint state
Official mintage: 5,000
Year of issue: 2023
Series: Medieval Bulgarian Rulers
Designer: Silviya Borisova
Minted by: Bulgarian Mint
Catalogue no.: BC-2023-06

Issue price: 144.00 лв; ≈ €73.63 · BNB, 2023
Market value (asking prices): €255.00; median asking price of 4 listings, €230.00 – €400.00 · Balkan Auction, 19 Oct 2026
Melt value: €37.99; Ag spot €50.70/oz · Oct 2026

Market prices – asking prices

Asking prices on Balkan Auction, 19 Oct 2026

Ungraded coins: €230.00 – €400.00; median asking price €255.00 · 4 listings
Graded (PCGS, NGC…): €220.00 – €350.00; median asking price €230.00 · 3 listings

Sample listings

Asking prices of active listings (fixed price, starting price or current highest bid) in the public coin category of Balkan Auction. These are asking prices, not completed sales. Lots, sets, replicas, error varieties and precious-metal prices below the metal value are excluded. BulgarianCoins does not buy, sell or value coins.

What if you had bought it at issue?

Issue price (BNB, 2023): €73.63
Asking price now (median): €255.00
Change in value: €181.37
Total return: +246%
Compounded yearly return: +45.7%a year, over 3.3 years

Quick calculator

Number of coins or amount invested at issue (€)

Indicative only: the current price is the median of asking prices on Balkan Auction on 19 Oct 2026, not a sale price; fees, taxes and condition are not included.

Relative rarity

7/10 · Rare

Very commonExtremely rare

How we calculate it

The score starts from the mintage on a logarithmic scale (500 coins or fewer = 10, ten million = 1). Coins of the Principality and the Kingdom that circulated get extra points, because much of that silver and gold was melted down and many coins were lost in the wars and withdrawn in 1952. Modern commemorative coins lose a point, since almost all of them survive in collections. Finally we look at how often the coin is offered on Balkan Auction: frequent offers lower the score.

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Obverse

The obverse of the coin features: in the centre – a gold plated medallion with an image of Tsar Mikhail III Shishman’s monogram in a composition with a griffin; underneath, the BNB logo with the year ‘1879’ on the strip, the nominal value ‘10 ЛЕВА’ (10 levs) and the year of issue ‘2023’; the inscription ‘БЪЛГАРСКА НАРОДНА БАНКА’ (Bulgarian National Bank) in circumference.

Reverse

The reverse of the coin features: in the centre – a replica of a Bulgarian Medieval gold coin with an image of Tsar Mikhail III Shishman on horseback, and the years ‘1323–1330’ underneath; the inscription ‘СРЕДНОВЕКОВНИ БЪЛГАРСКИ ВЛАДЕТЕЛИ’ (Medieval Bulgarian Rulers) in circumference on the top, and below – ‘ЦАР МИХАИЛ III ШИШМАН’ (Tsar Mikhail III Shishman).

Edge & packaging

Flat edge. Issued in a protective capsule with an information leaflet. The BNB advises keeping the capsule closed.

Image: Alfons Mucha, Tsar Simeon of Bulgaria · Alphonse Mucha, Public domain, via Wikimedia Commons

About this coin

Tsar Mikhail III Shishman

A 10 leva silver coin issued by the Bulgarian National Bank in 2023, part of the Medieval Bulgarian Rulers series. 5,000 pieces were minted by the Bulgarian Mint, to a design by Silviya Borisova.

Sources: BNB coin page · BNB register and prices · market listing 1