Watch List notes:

SCOTLAND. Rider (5 Pound Piece), 1598. Edinburgh Mint. James VI. NGC AU-50.
S-5458; Fr-44; Burns-10 var. (fig. 954). Seventh Coinage, Before Accession to the English Throne. An impressive specimen of utmost RARITY and eye appeal. Warm olive-gold tone is accentuated by vibrant flashes of satiny luster in the fields. The surfaces are smooth and well composed, despite scattered minor marks around the eponymous horseman. Generally well-centered on a tight flan, with curving irregularities around the edge in several areas. The top of R has been pushed off the edge at the lower obverse and most of IACOBVS is obscured.

The gold rider was issued under James VI as part of the seventh coinage, the final coinage of the 16th century. Issued sporadically from 1593 through 1601, all dates are rare but the 1598 and 1601 are considered the most elusive of this series. Neither issue is given an attribution number by Burns, though he references the British Museum specimens from each date. The famed Dundee Collection contained two gold riders, but neither of these dates. Just two examples of the 1598 issue have been traced to auction appearances over the past two decades including the LaRiviere coin (Good Very Fine) and the Stinton coin (Nearly Extremely Fine). With remarkable sharpness and strong luster, the present piece is an exceptional representative of this VERY RARE date and ranks among the finest available for public ownership.

From the Loch Ness Collection.

Estimate: $8000 - $12000