Watch List notes:

Elizabeth I 1558-1603), Angel, sixth issue (1583-1600), mintmark Key (1596-99), beaded inner and outer circles, Saint Michael slaying the dragon, legend surrounds ELIZABETH D G ANG FR ET HI REGINA. Rev, ship bearing quartered coat of arms, cross above with E and rose flanking, legend surrounds A DNO FACTVM EST ISTVD ET EST MIRABI, pellet and colon stops, 5.18g (S.2531; N.2005; Schneider - ). Lustrous toning with few soft areas, an especially well detailed portrait on the Angel, clear legends both sides. Near extremely fine, an exceedingly rare mintmark.