Sale: CNG 60, Lot: 2389. Estimate $2000.  Closing Date: Wednesday, 22 May 2002.  Sold For $3000. This amount does not include the buyer’s fee.

Elizabeth I. 1600/1. AR Two Testerns (6.73 gm). Portcullis money. Crowned shield, E R to either side / Crowned portcullis. Seaby 2607C; KM 2.1. VF. Very rare. ($2000)

The rare portcullis trade coinage, struck in denominations of 1, 2, 4 and 8 testerns, was issued for use by the East India Trade Company and was intended to supplant the Spanish reales in circulation in Asia. It was completely unsuccessful and after only a short time was withdrawn from circulation and minting ceased.