Coins and Historical Medals

Elizabeth I (1558-1603), First issue, an Edward VI, Second period, second issue [6oz. 2 dwt.], Shilling, mdl, mm. swan (obscured on obv.), bust 5, obv. countermarked with portcullis [to revalue it at Fourpence-Halfpenny], 4.77g/8h (N 1989; S 2546). Coin holed and with a few light marks, otherwise good fine, dark toned and with a clear portrait; the countermark very fine and very rare £2,000-£2,600

C.E. Blunt Collection [Shirley-Fox Bequest 1939]; Lord Stewartby Collection, Part IV, Spink Auction 243, 28 March 2017, lot 1742

The question of recoining the large amount of debased currency in circulation in the first two years of Elizabeth's reign led a committee of the Privy Council to recommend the city of London provide magistrates to check the coin in circulation in market places, and to stamp Edward VI shillings of 8:2 and 6:2 fineness with a portcullis, enabling them to be current for fourpence-halfpenny, and those of 3:2 fineness with a greyhound, thus current for twopence-farthing. The stamping began on 10 October 1560 (i.e. almost at the end of the lis-marked first coinage, which ceased on 8 November 1560) and was undertaken country-wide, with the die-sinker John Lawrence providing sufficient punches to the corporations of 42 towns. These counterstamped coins were allowed to circulate until the early spring of 1561.