Lot description:
Great Britain
Elizabeth I (1558-1603) "Portcullis Money" 8 Testerns ND (1600-1601) XF Details (Whizzed) NGC, Tower mint, "O" mm, S-2607A, Prid-1. 27.36gm. A magnificent piece with enviably distinct raised motifs for the type, presumably subjected to a whizz at some point in past rendering the surfaces with a bright appearance. Exhibiting localized russet and steel blue patina, with two edge cracks around 3 o'clock noted for completeness. Of utmost rarity, highly covetable for any advanced collection of British silver issues and we anticipate heightened bidder attention as this crosses the auction block.
Celebrated as "Portcullis" money, these coins from the Elizabethan era provide remarkable insights into the economic dynamics that characterized the prolonged Anglo-Spanish war, spanning late 16th to early 17th centuries. This war remained a constant throughout much of Elizabeth I's reign, persisting even after the devastating defeat of the Spanish Armada in 1588. These coins, bearing denominations of 1, 2, 4, and 8 Testerns, were envisioned as replacements for the dominant Reales system that was integral to the Spanish Colonial empire. Displaying thoughtful planning, they were crafted for distribution by the newly established 'Company of Merchants of London Trading into the East Indies' (more succinctly known as the 'East India Company'). Circulation in Muslim nations was also considered, which prompted the omission of Queen Elizabeth's portrait on these coins. Despite these grand plans, the mission to supplant the Reales system was not successful. Yet, these pieces have retained their significance as some of the most sought-after silver coins from the Elizabethan era. Their scarcity further enhances their appeal, with less than 200 pieces known to survive spread across all four denominations. A mere 46 specimens of this date are mentioned in the 1988 Salvesen catalog, with 15 of these conserved in museum collections. This scarcity makes each remaining specimen a precious window into a pivotal period in history.
https://coins.ha.com/itm/great-britain/great-britain-elizabeth-i-1558-1603-portcullis-money-8-testerns-nd-1600-1601-xf-details-whizzed-ngc-/a/3113-31143.s?type=DA-DMC-CoinArchives-WorldCoins-3113-01082024
HID02906262019
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Estimate: 8000-12000 USD | |