Description
Elizabeth I (1558-1603), One Testern, ‘Portcullis Money’, crowned quartered shield of arms, crowned E and R flanking, toothed inner circles both sides with outer toothed borders, initial mark O [undated, 1600-01], ELIZABETH DG AN FR ET HI REGINA. Rev, crowned portcullis with chains, beaded circles and legend surrounding POSVI DEVM ADIVTOREM MEVM, 3.33g (S.2607D; N.- Pridmore 4). Evenly toned with a fully centred strike, soft spot in the small crown above the E. Rev, annealing metal fissures in the bottom right of portcullis gate. Legends, quartered shield and fields all clear and free from any markings. A consistently well detailed example, extremely fine and extremely rare, with much eye appeal.
Ex ‘The Magnus Collection’ Spink, 28-29th March, 2012, lot 906
East India Company trade coinage, or as they are known in common parlance ‘Portcullis money’ were a drive by the Tower mint to produce trade coinage for use in the far east, backed by the East India Company. Issued in four distinct denominations, the eight, four, two and one testern, all carrying mintmark O, struck to the weights and composition of the Spanish Reales series. Despite the testern series of coins specifically being issued for the East Indies, the weight and fineness of these pieces made them admissible anywhere where the Spanish dollar circulated, inclusive of the American Colonies post 1607.
