Watch List notes:

SCOTLAND. Unicorn, ND (1513-42). Edinburgh Mint; mm: x/crown. James V. NGC VF-30.
S-5365; Fr-22; Burns-5 (fig. 733). Weight: 3.85 gms. First Coinage, Without Countermark. A beautiful piece with rich honey-gold tone and hints of powder-blue iridescence. The surfaces are smooth and glossy without any notable blemishes throughout. Off center towards 12 o'clock on both sides but otherwise well defined. The unicorn and shield on the obverse are dramatically echoed from a multitude of strikes. Perhaps one of the most historic examples available, this coin has been mistakenly identified as S-5364 (with countermark) on the NGC label.

The gold unicorn was issued for roughly the first decade of James V's technical rule before being replaced by the crowns of the second coinage circa 1526. While his official coronation was in 1512 at the age of one, James V did not fully embrace the kingship until 1528, after dismissing his regents and escaping from the custody of Archibald Douglas, the 6th Earl of Angus.

From the Loch Ness Collection.

Ex: St. James's Auctions (6/2007) Lot # 464.

Ex: WAG (6/2005) Lot # 5060.

Ex: Leu (10/2004) Lot # 512.

Ex: John G. Murdoch Collection (Sotheby, Wilkinson & Hodge - 5/1903) Lot # 166.

Estimate: $3500 - $5500