Baldwin's of St. James's
Auction 50-51 15 Oct 2020
View prices realized
► Sale information
Find similar lots
Elizabeth I, eight testerns (dollar), mm. O, shield of arms dividing ER, all crowned, ELIZABETH D G ANG FR ET HIB REGINA, rev. POSVI DEVM ADIVTOREM MEVM, crowned portcullis, wt. 27.59gms. (S.2607A; Pridmore 1), once cleaned but well struck, extremely fine, a superb example
Purchased Knightsbridge Coins, 2004
Authorized by a Royal Warrant dated 11 January 1601 and struck at the Tower mint, London. Four denominations were issued by the newly formed East India Company: a silver Eight, Four, Two and One Testern, to be used in overseas trade, principally in the Far East. However, the Spanish Eight Reales and its fractions were the trusted and accepted trade coinage at the time, presenting an obstacle. Many years ago, Leake (An Historical Account of English Money, 1793, pp. 255-256) offered collectors some appealing details of what he labelled 'exportable' money. The queen would not allow her newly commissioned trade company 'to transport the King of Spain's silver coin into the East-Indies. . . .' The sea-faring merchants complained that the Spanish coins were known in the East Indies, while hers were not. But Elizabeth refused the appeal, saying that the trade required new coins with her effigy on one side and the portcullis on the other, so that traders in the Indies might know her, and England's might. When the company and the Mint guaranteed her that the largest of these coins would be of exactly the weight and fineness of the Spanish dollar, and thus would be accepted in this trade, the queen yielded to not using her image but instead her titles and royal shield, opposed by the portcullis. Only two consignments of coin were sent to the Far East and the coinage did not succeed. The coins are rare, those that have survived were probably retained as souvenirs at the time.
(20000-25000 GBP)
Purchased Knightsbridge Coins, 2004
Authorized by a Royal Warrant dated 11 January 1601 and struck at the Tower mint, London. Four denominations were issued by the newly formed East India Company: a silver Eight, Four, Two and One Testern, to be used in overseas trade, principally in the Far East. However, the Spanish Eight Reales and its fractions were the trusted and accepted trade coinage at the time, presenting an obstacle. Many years ago, Leake (An Historical Account of English Money, 1793, pp. 255-256) offered collectors some appealing details of what he labelled 'exportable' money. The queen would not allow her newly commissioned trade company 'to transport the King of Spain's silver coin into the East-Indies. . . .' The sea-faring merchants complained that the Spanish coins were known in the East Indies, while hers were not. But Elizabeth refused the appeal, saying that the trade required new coins with her effigy on one side and the portcullis on the other, so that traders in the Indies might know her, and England's might. When the company and the Mint guaranteed her that the largest of these coins would be of exactly the weight and fineness of the Spanish dollar, and thus would be accepted in this trade, the queen yielded to not using her image but instead her titles and royal shield, opposed by the portcullis. Only two consignments of coin were sent to the Far East and the coinage did not succeed. The coins are rare, those that have survived were probably retained as souvenirs at the time.
(20000-25000 GBP)