Watch List notes:

BRITISH COINS, Scotland, Mary Queen of Scots, Silver Testoon of Five Shillings, 1557, with re-valuation countermark of 1578 for seven Shillings and Four Pence, type IIIa, crowned Scottish arms, M with annulet below to left, R with annulet below to right, legend and date surrounding, MARIA. DEI. G. SCOTOR. REGINA 1557, rev large cross potent, cross in each angle, legend and date surrounding, initial mark crown, .IN. VIRTUTE. IVA. LIBERA. ME. 1557., 5.85g (SCBI 58:335; S 5404 and page 70). About very fine, toned, with a strong countermark.

Estimate: £300-400