Lot 286
Great Britain. Angel, ND. S-2299; N-1830. 5.12 grams. Henry VIII, 1509-1547. Tower mint. Third Coinage (1544-1547). Saint Michael spears Satan at his feet. Reverse: Ship bearing shield. Lis mintmark. Crisp details and a full, lustrous flan produce a remarkable eye-appeal in this example of a coinage which is scarce in all grades. Here is one of the finest to be seen. NGC graded MS-64.
Henry was forced to resort to a policy of debasement in order to support the costly expenses of his wars and foreign policy endeavors. Gold and especially silver were affected. In fact, by the end of his reign, a similar scenario had played out which centuries before had adversely impacted Roman civilization, wherein their venerable silver coin became merely a silver-washed copper piece. The money series of England starting in 1546 had become so alloyed that the mint resorted to "blanching" the struck coin before releasing it into circulation. This gave the appearance, when new, of an honest silver piece. In circulation this thin film of silver soon wore away to reveal the coppery metal beneath. This earned for Henry on his portrait coins, when the nose reddened due to wear, the nickname of "Old Coppernose." On his gold coins, however, the gleam was genuine -- and most over the coming centuries suffered a dire fate, being melted away to bullion.
Estimated Value $2,000 - 2,500.
Ex Dr Jacob Y. Terner Collection (by private treaty to the Millennia Collection).
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| Realized $8,338 |
