Watch List notes:

James I (1603-25), Thistle Crown of four shillings, second coinage, mintmark Bell (1610-11), crowned rose breaking beaded inner circle, I and R flanking, legend surrounds IA DG MAG BR F ET H REX. Rev, crowned thistle between I and R breaking inner linear circle, reads TVEATV R VNITA DEVS, 1.99g (S.2627; N.2096; Schneider -). Struck on a fully rounded flan with much of the outer borders visible, lustrous gold toning. Impressive detail in both the rose and the thistle motifs with one flat spot on the right rose leaf, reflected on the reverse, slight crease. Not recorded in the Schneider catalogue for the mintmark. Recorded as scarce denomination with an excessively rare mintmark. Good very fine, rare.

Bought Michael Trenerry (dealer), with ticket.
Ex. DNW, Sale 124, 16th September 2014, lot.