Noonans
Auction 180 9 Sep 2020
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British Coins: First issue (1 January 1558/9 to 30 November 1560)
Elizabeth I (1558-1603), First issue, Edward VI, Second period, First issue [8oz. 2 dwt.], Shilling, mdxlix, mm. arrow, bust 1, obv. countermarked with portcullis [to revalue it at Fourpence-Halfpenny], 4.09g/12h (N 1989; S 2546). Coin mediocre, countermark very fine and exceptionally clear, very rare £4,000-£5,000
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Provenance: SNC October 1993 (7174).
The question of recoining the large amount of debased currency in circulation in the first two years of Elizabeth's reign led a committee of the Privy Council to recommend the city of London provide magistrates to check the coin in circulation in market places, and to stamp Edward VI shillings of 8:2 and 6:2 fineness with a portcullis, enabling them to be current for fourpence-halfpenny, and those of 3:2 fineness with a greyhound, thus current for twopence-farthing. The stamping began on 10 October 1560 (i.e. almost at the end of the lis-marked first coinage, which ceased on 8 November 1560) and was undertaken country-wide, with the die-sinker John Lawrence providing sufficient punches to the corporations of 42 towns. These counterstamped coins were allowed to circulate until the early Spring of 1561
Elizabeth I (1558-1603), First issue, Edward VI, Second period, First issue [8oz. 2 dwt.], Shilling, mdxlix, mm. arrow, bust 1, obv. countermarked with portcullis [to revalue it at Fourpence-Halfpenny], 4.09g/12h (N 1989; S 2546). Coin mediocre, countermark very fine and exceptionally clear, very rare £4,000-£5,000
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Provenance: SNC October 1993 (7174).
The question of recoining the large amount of debased currency in circulation in the first two years of Elizabeth's reign led a committee of the Privy Council to recommend the city of London provide magistrates to check the coin in circulation in market places, and to stamp Edward VI shillings of 8:2 and 6:2 fineness with a portcullis, enabling them to be current for fourpence-halfpenny, and those of 3:2 fineness with a greyhound, thus current for twopence-farthing. The stamping began on 10 October 1560 (i.e. almost at the end of the lis-marked first coinage, which ceased on 8 November 1560) and was undertaken country-wide, with the die-sinker John Lawrence providing sufficient punches to the corporations of 42 towns. These counterstamped coins were allowed to circulate until the early Spring of 1561