UNIQUE AND IMPORTANT COIN FROM REIGN OF DAVID I OF SCOTLAND THAT WAS MINTED IN CARLISLE FETCHES A HAMMER PRICE OF £32,000 AT NOONANS

A unique and unpublished coin from the reign of David I of Scotland (1124-1153) that was minted in Carlisle fetched a hammer price of £32,000 – double its pre-sale estimate - at Noonans Mayfair today (Thursday, September 19, 2024) in a sale of British, World Coins and Historical Medals. It was estimated at £15,000-20,000 and was bought by a collector bidding via the internet.

As Jim Brown, Coin Specialist at Noonans said: “We are very pleased with today’s result – there was a lot of interest in the coin from both private collectors and institutions who recognised its importance and rarity.”

Prior to the sale, he explained: “This is a find of considerable historical and numismatic importance. It is not really surprising that new varieties of medieval coins turn up from time to time - this is to be expected. What makes this find so different is the unique nature of the design - a complete and totally unexpected departure from the norm.”

He continues: “The original medieval fortress at Carlisle that was constructed in 1092, after the capture of the city from the Scots by William Rufus. Some 30 years later, Henry I decreed it be rebuilt in stone and ‘fortified with a castle and towers’. This is probably the medieval keep that can be seen today, albeit much altered in the interim.”

As Mr Brown adds: “The exact occasion of its striking however can only be surmised. It was a tumultuous period of alliances, battles and treaties changing with the ebb and flow of the political and military struggle. In view of the obverse type, it may be to commemorate David’s fortification of his new power base in Cumbria - an issue unparalleled in British medieval numismatics.”

The death of Henry in France on 1 December 1135 altered his kingdom forever and initiated the Anarchy, a period of unrest played out around the disputed succession to throne between Henry’s daughter Matilda and her cousin Stephen of Blois. Although the barons of the land had agreed to recognise Matilda, Stephen, on hearing of Henry’s death, was quicker to return to England to stake his claim and was crowned in Westminster Abbey on 22 December. Within a matter of days, David I of Scotland began an invasion of the north of England, ostensibly in support of Matilda who was his niece but more likely seeing an unexpected and unrivalled opportunity to regain territory in the disputed borderlands between the kingdoms.

Carlisle fell to the Scots before the end of January 1136 and possession was ratified by the first Treaty of Durham a few months later. David was quick to continue the fortification of the castle begun by Henry a decade earlier. According to Oram, Carlisle was one of David’s favourite residences and he spent a great deal of time there. He died in his bedchamber in the tower of the castle in late May 1153.

The discovery of silver deposits near Carlisle in the 1120s led to the swift establishment of a mint where coins were struck of Henry I types XIV and XV. In the new reign, production of type I coinage continued, in Stephen’s name, after the capture of the city by the Scots. This issue would have begun soon after Stephen’s accession at Christmas 1135 and is generally considered to run until c. 1141-2. The moneyers were Erembald, Udard and Wilealme. Some pennies were produced in the name of David while retaining the familiar portrait style and reverse type. Erembald was again one of the moneyers - some of his coins also bearing an Edinburgh mint signature. It is during this period that the present coin would have been struck.