First Scottish coin beats estimate by 140% at auction
An 875 year old Scottish coin, the first ever issued, saw strong results on June 28
Paul Fraser Collectibles, Monday 2 July 2012
The first Scottish coin ever issued provided the main draw at a two day sale of Ancient and British Coins on June 27-28.
A remarkable find, the coin was discovered in Yorkshire, UK and stands as one of just 10 extant examples. The penny was created over 875 years ago under the reign of David I, after he conquered Carlisle in England and took over the town's mint.
Following the death of Henry I of England in 1135, David I had established complete control of Cumbria, making Carlisle his new base. He continued to strike Henry's silver pennies at the mint there, but instead of printing the king's design, he had each example struck with his own name and insignia, thereby creating the first ever Scottish coins.
It is thought that the example at auction was likely lost by a soldier just three years later at the Battle of the Standard in north Yorkshire, where David I was eventually defeated by the English army. After a battle of their own, the new owner secured the well-worn piece for £8,400, 140% above its high estimate of £3,500.
"The buyer has acquired a very special piece of Scottish history and I am delighted that its significance has been acknowledged in this way, by achieving a well-deserved price," commented the auction house's coin specialist, William Mackay.
Paul Fraser Collectibles has its own Carlisle-minted coin on offer, which originates from the besieged city during the English civil war. See more of our brilliant collection here.
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