Goldberg Coins & Collectibles Auctions    
       

       

                             



Sale 31: The Pre-Long Beach Auction May 30 - June 1, 2005
             

             
            Lot 2129Great 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. 

            Provenance: The Cheshire Collection.


          








Courtesy Ira & Larry Goldberg Auctioneers, Beverly Hills, CA. www.goldbergcoins.com