Watch List notes:

MS65 | Elizabeth I (1558-1603), Third 'Restoration' Coinage, Sixth Issue [Crown Gold], Pound Sovereign [of 20-Shillings], (Pyx Period: 8 February 1599 - 30 April 1600), Tower, (m.m.) ELIZABETH : D .' G .' ANG ' FRA .' ET : HIB .' REGINA • crowned and elaborately decorated bust 8A left, rev. (m.m.) SCVTVM : FIDEI : PROTEGET : EAM •, crowned square-topped and lightly garnished shield dividing E-R, 11.29g [174.0grns], 2h, m.m. anchor over key (HCN 142; Montagu First Duplicates, 73 = Egmont-Bieber 81; Murdoch I, 585 = Lockett 3290 = Schneider II, 803 same dies; cf. Ryan 316; Comber II, 135; Brown & Comber F21; North 2008; Spink 2534), slightly double in obverse legend, otherwise a lovely example of this seldom-seen privy mark, handsomely cabinet toned, almost extremely fine and equally rare, in NGC 'Horace Hird' holder, graded MS65 (Cert. #6135299-036).
Provenance
A Lost Parcel from the Celebrated Horace Hird Collection
Dr Carter, collection purchased en bloc by Baldwin, 1950
Possibly
Major PWP Carlyon-Britton, SCMB M285, February 1938, F17/18 - EF, RRR - £7.10.0
The Carlyon-Britton Catalogue (1914-1918, no. 569) documents an example of the exact same weight
Baldwin, 31 December 1913 - £17.3.6, and presumably
Dudman, 15 December 1913, lot 80 - fine and an extra rare mark - £2.12.0 [Baldwin]
, , Brown and Comber record four instances of this privy mark for denomination as listed in the Spink Numismatic Circular and Seaby Bulletin between 1937 and 1983. Challis records the mint output for this Pyx Period at £14,098 for Crown Gold.
Estimate: £15000 - £25000