A Collection of Scottish Coins, the Property of a Gentleman (Part I)

James III (1460-1488), Base silver issue, 1471-83, Groat, Edinburgh, mm. cross, tressure of eight arcs broken by bust, trefoils on cusps at sides, rev. medium large mullet of six points in first and fourth quarters, large thistle-head in second and third quarters, double saltires after bvrg, 2.15g/8h (cf. SCBI 35, 749-52; SCBI 72, 809, for same rev. reading; cf. B 8, fig. –, probably same obv. die; S 5270). Carelessly struck but good very fine or better and probably much as made, very rare thus £1,200-£1,500

This lot was sold as part of a special collection, A Collection of Scottish Coins, the Property of a Gentleman.

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bt Spink December 1974

While the Penny Scots had been subject to debasement since the reign of Robert III, it is only in the 1460s that the larger coins underwent the same process. Originally interpreted as the ‘aloyt grot’ mentioned in the Act of Parliament of 6 May 1471, the internal numismatic evidence, (lettering punches, stops etc,) suggests a date at least five years later. A lighter and baser coin circulating alongside a stronger piece, and tariffed accordingly, is a concept well understood throughout much of 15th century Europe but completely alien to the English monetary system.