St. James's Auctions
Auction 48 23 Sep 2021
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Elizabeth I, first issue, 'crown gold' coinage, half pound, mm. lis (1559-60), wire inner circles, crowned bust 1B left, ELIZABETH D G ANG FRA Z HIB REG, rev. crowned shield of arms, ER at sides, large crown, interior frosted, SCVTVM FIDEI PROTEGET EAM (small last T in PROTEGET and no stop to EAM), square pellet stops, wt. 5.56gms. (S.2519; N.1982; Schneider 736/7; Brown & Comber G3, G4), slightly creased, a few light surface marks, good very fine, well centred on a broad flan, pleasing portrait, exceedingly rare
*ex DNW, 16/17 September 2014, lot 2475
The reverse appears to be a later state of Schneider 737 with the addition of a small letter t punched between PROTOGE and EAM. Collector's note - 'excessively rare, unknown combination of obv. ending with rev. reading.'
As one of the earliest gold coins struck after Elizabeth assumed the throne, this coin highlights the extraordinary succession of the second daughter of Henry VIII who was declared an illegitimate heir upon the rejection and beheading of her mother, Anne Boleyn. Her half-sister Mary and her half-brother Edward both enjoyed legitimacy as rightful heirs resulting from an Act of Parliament shortly after Henry's death, but Elizabeth existed in the shadows at that time and was not mentioned in the act. The social situation in 1558 was such that the princess was met with rejoicing across the kingdom after the disastrous reigns of her half-siblings ended. Blessed with a brilliant mind, Elizabeth realized that, in order to secure her success as queen, she needed to quickly address a number of issues, one of which was the sad state of the money which had only been slightly improved under the brief reigns of Mary and Edward. Attempting to curb spending by the Crown and reform the hated taxes of old, at the end of her life Mary had ordered a new Book of Rates in 1558, and Elizabeth immediately confirmed these with the result that revenue increased while at the same time the new rates were viewed as based on a fairer taxation. In fact, however, the money, particularly the gold, did not much benefit until the English navy began systematic raiding of Spanish fleets in 1567. Thus gold remained scarce during the first decade of Elizabeth's reign-output slight and survival of examples scant. In reality, the process of restoring faith in the money was long and fraught with difficulties-success being largely the achievements of the mint's master, Sir Edmund Peckham (until November 1560), and the chief engraver, Derek Anthony, who held the post until 1599 and was responsible for much that we see on Elizabeth's fine coinage.
(15000-20000 GBP)
*ex DNW, 16/17 September 2014, lot 2475
The reverse appears to be a later state of Schneider 737 with the addition of a small letter t punched between PROTOGE and EAM. Collector's note - 'excessively rare, unknown combination of obv. ending with rev. reading.'
As one of the earliest gold coins struck after Elizabeth assumed the throne, this coin highlights the extraordinary succession of the second daughter of Henry VIII who was declared an illegitimate heir upon the rejection and beheading of her mother, Anne Boleyn. Her half-sister Mary and her half-brother Edward both enjoyed legitimacy as rightful heirs resulting from an Act of Parliament shortly after Henry's death, but Elizabeth existed in the shadows at that time and was not mentioned in the act. The social situation in 1558 was such that the princess was met with rejoicing across the kingdom after the disastrous reigns of her half-siblings ended. Blessed with a brilliant mind, Elizabeth realized that, in order to secure her success as queen, she needed to quickly address a number of issues, one of which was the sad state of the money which had only been slightly improved under the brief reigns of Mary and Edward. Attempting to curb spending by the Crown and reform the hated taxes of old, at the end of her life Mary had ordered a new Book of Rates in 1558, and Elizabeth immediately confirmed these with the result that revenue increased while at the same time the new rates were viewed as based on a fairer taxation. In fact, however, the money, particularly the gold, did not much benefit until the English navy began systematic raiding of Spanish fleets in 1567. Thus gold remained scarce during the first decade of Elizabeth's reign-output slight and survival of examples scant. In reality, the process of restoring faith in the money was long and fraught with difficulties-success being largely the achievements of the mint's master, Sir Edmund Peckham (until November 1560), and the chief engraver, Derek Anthony, who held the post until 1599 and was responsible for much that we see on Elizabeth's fine coinage.
(15000-20000 GBP)