James IV (1488-1531), Billon issues, Penny, second issue, type IV, rounder bust, rev. lis and crowns in angles, 0.63g/3h (SCBI 35, 878ff; S 5362). Slightly off-centre, otherwise better than very fine and an excellent example £90-120

Provenance: Sir Charles Oman Collection, Christie’s Auction, 31 October 1972, lot 411 (part); W.H. Pheatt Collection, Part I, BDW Auction 12, 21 March 1995, lot 845