Watch List notes:

Scotland, Mary, Queen of Scots, First Period (1542-1558), Testoon, 1558, Type IIIb, crowned arms, dividing M-R, no annulets, rev. cross potent with a cross in each angle, 5.74g, 2h (Spink 5406), the edge irregular, otherwise handsomely cabinet toned, some peripheral striking softness, otherwise very fine, the reverse pleasingly so.

Estimate: £300 - £400