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TUDOR. Elizabeth I. 1558-1603. AR 8 Testerns (40mm, 27.76 g, 10h). ‘Portcullis’ money. Tower (London) mint; im: O. Struck 1600. crowned coat-of-arms; crowned E R flanking / Crowned portcullis. Seaby, The Story of British Coinage (London, 1985), p. 99, no. 126 (this coin illustrated); BCW 0-1C/0-a; North –; SCBC 2607A (this coin illustrated in the late 1990s and early 2000s editions); Pridmore 1. In NGC encapsulation 6381364-001, graded XF 40. Richly toned. Broad flan. Very rare.
Ex Robert P. Puddester Collection; ‘A Collection of Crowns’ (Baldwin’s 30, 7 May 2002), lot 408; Seaby Coin & Medal Bulletin 786 (February 1984), no. 70; E. Gosling (H. Christiansen, 9 December 1983), lot 718.
In 1600, the recently organized East India Company found themselves in need of coin. They initially planned to import the commonly used Spanish dollars, but Elizabeth refused to grant such a license, and insisted that the company use coins bearing her name and image. In the end, a compromise was reached allowing the royal mint to strike new coins with the name of the queen, but with the royal symbol of the portcullis in lieu of a portrait of a woman, which would likely have not been acceptable in the Indies. (BCW p. 11)
Ultimately, £6000 worth of silver was struck in denominations of 1, 2, 4, and 8 testerns. But even without a feminine visage, the coins proved to be unsuccessful in trade, and quickly disappeared. Only a very small number of specimens for each denomination have survived to this day.
The final winners of all Triton XXVII lots will be determined at the live public sale that will be held on 9-10 January 2024.
Triton XXVII – Session Four – Lot 984–1341 will be held Wednesday afternoon, 10 January 2024 beginning at 2:00 PM ET.
Winning bids are subject to a 22.5% buyer's fee for bids placed on this website and 25% for all others.
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