Watch List notes:

Mary, Queen of Scots (1542-1567), First Period, Testoon, 1556, Type IIIa, crowned arms, dividing M-R, annulet below each, rev. cross potent, cross in each angle, no stops, 6.09g, 12h (Burns 14 var.; Spink 5404), small metal flaw above the M in obverse field, otherwise the legends pleasingly struck up and with a handsome cabinet tone, good very fine, seldom seen so wholesomely balanced.
Provenance
SNC, April 2007, SC0571 - £650
Dundee, Spink-Bowers & Ruddy Auction, 19 February 1976, lot 136
Estimate: £700 - £1000