The New York Sale
Auction 43 10 Jan 2018
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Elizabeth I (1558-1603), silver Eight Testerns. Trade coinage "Portcullis Money", crowned quartered shield of arms, crowned E to left, crowned R to right, beaded circles and legend surrounding, initial mark O, O:ELIZABETH. D:G: ANG: FR: ET. HIB; REGINA, rev. crowned portcullis with chains, beaded circles and legend surrounding, initial mark O, O:POSVI. DEVM. ADIVTOREM. MEVM: 27.39g (Pridmore 1; S 2607A). With some light striking weakness in three places mainly around rim, otherwise evenly toned, in PCGS holder graded EF 40, and free of the usual inherent flan flaws, Pop 2; tied for the finest examples graded at PCGS and among the only 3 pieces slabbed at both services. The only other piece is an AU 50 at NGC. very rare. Estimated Value $25,000
Ex Bridgewater House Collection, Sotheby, 15th June 1972.
Ex Bonhams, 17th July 2007, lot 514.
PCGS certification 34313456. The four denominations of Eight, Four, Two and One silver Testern were an attempt at producing a trade coinage sponsored by the newly formed East India Company to be used in overseas trade principally in the Far East. However the competition against the Spanish Eight Reales and its fractions was too much at this time, and after only two consignments of coin were sent to the Far East, ultimately the coinage did not succeed, rendering the surviving coins a rarity. The surviving coins probably all being coins retained in London as souvenirs at the time.
Ex Bridgewater House Collection, Sotheby, 15th June 1972.
Ex Bonhams, 17th July 2007, lot 514.
PCGS certification 34313456. The four denominations of Eight, Four, Two and One silver Testern were an attempt at producing a trade coinage sponsored by the newly formed East India Company to be used in overseas trade principally in the Far East. However the competition against the Spanish Eight Reales and its fractions was too much at this time, and after only two consignments of coin were sent to the Far East, ultimately the coinage did not succeed, rendering the surviving coins a rarity. The surviving coins probably all being coins retained in London as souvenirs at the time.