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Sale 53
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Lot 2587
Great Britain. Sovereign of 30 Shillings, ND. S-2529; Fr-209; Schneider-780; North-2003. 15.20 grams. Elizabeth I, 1558-1603. Sixth issue. London mint. Mint mark, Escallop (1584-86). Obverse: Facing portrait of the Queen enthroned, holding scepter and orb, portcullis below. Reverse: A gigantic Tudor rose, in full bloom, holding in its center the royal shield. Sharply struck with traces of luster. Most surviving fine sovereigns cannot approach this specimen in quality. A lovely coin!
Historical note: How aptly named this coin is! When Good Queen Bess came to the throne in 1558, at age 25, she inherited a kingdom in financial shambles, as evidenced by the poor quality of the coins manufactured at the end of her father's reign and most of those of her two short-lived predecessors, her ill-fated siblings. In fact, little gold was coined for some years before her, testament to which is their rarity today and their fairly high values. Elizabeth quickly saw the problems and set to work changing them. In 1558, the treasury was nearly empty. Henry VIII had lived lavishly, and his infamous stripping of even the lead holding the windows and roofs of monasteries together proved how desperate he was, even for poor metal. Gold was another matter entirely.
Known for her keen intelligence and learning, and for her remarkable ability to keep even the most savage political opponent at bay within her own court, Elizabeth's judgments encouraged trade and she gained a widespread loyalty among her varied subjects. Foreign trade had flagged under her predecessors' heavy-handedness. In short order, the treasury was again fit and issuing exquisitely engraved, often large gold coins such as this one. Trade abroad brought in more wealth, as did the capture of enemy goods. By the 1580s, when this coin appeared, not only was the monarch sporting beautiful clothes and lavish jewels once again but the treasury was amply endowed, and England again was a wealthy nation. Elizabeth detested war, knowing it could be costly, knowing its outcome was never certain, and she avoided conflict when possible, but England's age-old enemies on the Continent pushed British patience often to the limit. The French slew Huguenots, the Spanish held a death wish against all who were not Catholic, yet Elizabeth kept them at bay (no one ever knew the queen's personal religious inclinations) until it was no longer possible. The famed success of the Armada in 1588 (which coins such as this gold one certainly funded in large measure) brought victory to the English and was the beginning of the Royal Navy's worldwide acclaim as ruler of the seas. The Renaissance was in full bloom in England during these years, and it was fueled by such bold ventures as Francis Drake's circumnavigation of the globe, which alone brought in some one and a half million pounds sterling of wealth to the island nation. On that voyage's back was founded the East India Company - and was sealed English influence on a world forever changed by a woman ruler whose reputation has never faded in the succeeding centuries. NGC graded AU-58.
Estimated Value $20,000 - 25,000.
Ex: Garth R. Drewry Collection; Ex: Christie's 11 October 1983, Lot 216 (cover coin); Ex: CNG 66, May 19, 2004, Lot 1999; The "Sylvia" Collection, through Mark Rasmussen by private treaty.
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| Realized $55,200 |
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