Lot 60065 – Great Britian, Elizabeth I (1558-1603), silver 8 testerns, Tower Mint 26.95 g.

Great Britian, Elizabeth I (1558-1603), silver 8 testerns, n.d. (1600-1601), Tower mint “O”, 26.95 g. (42 mm). Obverse: crowned arms ER, ELIZABETH D G ANG FR ET HIB REGINA. Reverse: crowned portcullis, POSVI DEVM ADIVTOREM MEVM.
“Portcullis” money was struck at the Tower Mint for the use of the Governor and Company of Merchants of London and the East India Company. They are considered by many to be Great Britain’s first purely colonial issues, produced with the intention of competing with the Spanish “”pieces of eight” and to consolidate Britain’s influence in the economic and commercial struggle with other colonial powers. Portcullis money was minted in denominations of one, two, four and eight testerns.
Extremely Fine, well struck and fully rounded, good plum-grey toning. Exceptionally rare and well struck exhibiting little or no wear; certainly one of the finest known examples. Less than 200 coins of all four denominations are believed to have survived.