SCOTLAND. Mary Stuart. 1542-1567. AR testoon. 5.72 gm. 28 mm. Third period, 1560-1565. First widowhood. 1561. Her bust left in contemporary costume; MARIA DEI GRA SCOTORVM REGINA around, 1561 in tablet below / Crowned arms of France and Scotland, crowned M to either side; SALVVM FAC POPVLVM TVVM DOMINE. S. 5422. SCBI 35 1111-1112. Near Very Fine; striking crack on edge at 1'; attractive even old toning; a bit off center, minor marks and scratches; a die break characteristic of one of the dies* is visible in the field left of the portrait. A pleasing example of this rarely offered piece with its finely rendered portrait.

Ex Davissons Auction 22 (28 April 2005) lot 268.

(An example described as "VF, deeply toned, some light die rust," of this beautiful issue was sold in September by CNG for $25000 plus commissions.)*I am unaware of a study of the dies used to issue this coin, but SCBI 58 illustrates 12 examples of the issue and the photos show several different varieties.