England (1600-01) 8 testerns
This specimen was lot 31178 in Stack's Bowers ANA sale (Chicago, August 2022), where it sold for $24,000. The catalog description[1] noted,
"Exceedingly Wholesome Example of an Early Trade Issue, GREAT BRITAIN. British East India Company. 8 Testerns, ND (1600-01). London Mint; mm: O. Elizabeth I. PCGS AU-50. Portcullis coinage. Though any surviving example of this type should be counted as RARE, the present specimen distinguishes itself on account of its attractive state of preservation. Many examples of the type that have come to market display problems, often tooling or some repair. This example has none of these problems, with the well struck details scarcely showing any wear. An attractive and subdued golden brilliance shows itself most forcefully within the crevasses and crannies of the legend and design elements. An example that is certain to catch much intrigue on account of its story and beauty.
The first attempt at a British Trade Dollar, the Portcullis coinage was produced for the British East India Company, newly formed in 1600, to compete with Spanish Real pieces. To further this end, the weight of a Testern was standardized at 52.85 grains, equivalent to that of a single Spanish Real. The competition with the Spanish 8 Reales coinage never materialized, leaving the initial strikes of the 8 Testerns and the fractional types as the only examples produced for a brief one-year window. The idea of British Trade coinage would not be revisited until 1895, well after Britain had established herself as the preeminent global power in the age of Exploration. From the Mark and Lottie Salton Collection."
Recorded mintage: unknown.
Specification: 27.4 g, 0.925 fine silver, 40 mm diameter.
Catalog reference: S-2607A; N-2008; Prid-1.
- Lobel, Richard, Mark Davidson, Allan Hailstone and Eleni Calligas, Coincraft's Standard Catalogue of English and UK Coins, 1066 to Date, London: Coincraft, 1995.
- Skingley, Philip, ed., Standard Catalogue of British Coins: Coins of England & the United Kingdom, 46th edition, London: Spink & Son, 2011.
- [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, The 2022 ANA Auction - Ancients & World Coins - Featuring The Salton Collection Part III, the Augustana Collection and the Robert C. Knepper Collection, Costa Mesa, CA: Stack's Bowers LLC, 2022.
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