Lot 2129
Great Britain. Silver Pledge Halfpenny, 1601. Elizabeth I (1558-1603). Not listed in Spink. Peck-6 (called "very rare"). Crowned royal monogram on obverse includes each of the letters of "ELIZABETH R." Portcullis with date above on reverse. Stops in the devices reminiscent of those used on Anglo-Saxon pennies, which seemingly function primarily to balance the design. This monarch was known firstly for her brilliance as an administrator and a negotiator, not merely for keeping her head during some six decades of the most treacherous political times in England's history, but also for leading her country through foreign war and global exploration. It was said that Elizabeth, daughter of Henry VIII and Anne Boleyn, could listen to entreaties at court by the Portugese ambassador while dictating a letter in French and signing legal papers in Latin and listening to singing in Italian, all at the same time! She was born in 1533, and during her youth her irascible father spent much time robbing ancient abbeys of their lead windows for war materiel and spending the nation's treasury at a furious pace on his pleasures. At his death his currency had been seriously demeaned of intrinsic value; his son and first daughter ruled after him, albeit shortly and disastrously, and neither did anything to revive the currency or the public's faith in it. By contrast, Elizabeth took great interest in resuscitating the national money and treasury, and in only a short while she had restored gold and silver coinages to high standards of value. Under her reign, a wide variety of denominations was created and minted, including the famed Portcullis Money for foreign trade and some of the first true patterns in English numismatic history. This wonderful little coin is one of them! A quarter-century before it was made, a proposal was set forth to produce a copper coinage, but copper had never had royal sanction, only specie (gold and silver). The idea was put to the queen to issue "pledges" of value, made of copper but backed in exchange by The Crown in quantity by silver. The concept was never promulgated, never got to the minting stage, other than in the form of a few very rare patterns. Some are known in silver, and some in copper with a silver "wash" or light coating. These have long suffered from a dubious origin, being suspect by both Montagu and Peck, but Stephen Martin Leake mentions them in his Historical Account of English Money, published in 1793 (see page 259), and today's collectors avidly seek any of these pledge issues as part of Elizabeth's numismatic heritage. This delightful specimen is NGC graded only VF30, but the cataloguer is quite taken by its sharpness of detail and its unusually fine eye-appeal. Two-toned gray with the design bold. No flaws, no damage. An important coin! Believed by the consignor to be second finest known of the four pieces in private hands. NGC graded VF-30.
Estimated Value $3,250 - 3,500.
The Cheshire Collection.
|
| |
| Unsold |
