Extremely Rare Gold Fifteen Shilling Ryal of Queen Elizabeth I

Elizabeth I (1558-1603), fine gold Ryal of Fifteen Shillings, Tower Mint, sixth issue (1583-1600), Queen Elizabeth standing in Tudor warship sailing left, holding orb and sceptre, rose on hull, E on banner at bow, legend and beaded borders surrounding both sides, ELI ZAB; D; G; ANG; FR; ET. h IB REGInA., rev. rose on sun with sixteen rays at centre, cruciform cross fleury ends with lis terminal surrounding, crown over lion in each angle, all within a tressure of eight arcs, small trefoils in spandrels, initial mark escallop (1584-86), IhS; AVT; TRAnSIEnS. PER. mEDIV; ILLORVm. IBAT., weight 7.54g (Schneider 785; Brown and Comber B6; Thompson O1/R2,R3; N.2004; S.2530). Toned, a little weakly struck in stern portion of boat and sea and corresponding part of reverse, one light crease, otherwise good very fine and extremely rare.

The Gold "ship" Ryal or Rose Noble of Queen Elizabeth I of Fifteen Shillings face value is one of the rarest and most desirable coins of this reign. The denomination represents one of the last coins struck in the mediæval design styled with full Lombardic lettering. These coins were issued by order of a Privy Seal Warrant of the 20th April 1584 authorising the striking of fine gold Nobles of Fifteen Shillings (Ryals) and Double-Nobles of Thirty Shillings (Sovereigns) in order to help finance the Earl of Leicester's expedition to the Netherlands in 1585. By the 31st January 1586/7 a total of £27,936 worth of these two denominations had been struck of which only 3,000 were Nobles like we have offered here. They are extremely rare today and Brown and Comber only traced twelve examples extant to collectors in their article of 1989, to which not many more can be added since.

Provenance:
Ex Spink Coin Auction 161, 14th November 2002, lot 123.
Ex Mark Rasmussen Numismatist, List 8, item 124 and list 11 (2006) item 46.