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GM23670

Aethelred II, Penny, long cross type, Buckingham Mint, moneyer Aelfwi

Aethelred II (978-1016), silver long cross Penny (c.997-1003), Buckingham Mint, Moneyer Aelfwi, draped bust left, legend and beaded outer border surrounding both sides, legend commences lower left, +ÆÐELRÆD REX ANGLO'I, rev. long voided cross with tri-crescent ends, +ÆL FPI M ΩO B VCCI, weight 1.74g (BMC IV, p.197; BEH 69; SCBI 7:36 Copenhagen; N.774; S.1151). Toned, peck marks both sides with more on reverse, otherwise good very fine and extremely rare, one of only two known to be in private hands of this mint type and moneyer.

North lists 73 named mints in operation during the reign of Aethelred II with a further 14 unallocated. Buckingham operates with just three moneyers in only the CRVX and long cross types, though the mint became first apparent in the reign of Edgar under moneyer Tunulf who continues operation through the reign of Edward the Martyr and into the CRVX issue of Aethelred II. The mint continues operating through the three types of Canute under moneyer Leofric and through Harold I and Harthacanute under moneyers Brihtwine and Leofric, the latter then continuing on into the reign of Edward the Confessor through four types and with new moneyers for the subsequent two types ending on hammer cross type.

Though Aethelred enjoyed such a long reign he was known as "The Unready" literally meaning ill-counselled from a history of bad advice and decision making. Born circa 967 Aethelred was supported by his mother and partisans that were led by Earl Aelfhere of Mercia; ascending the throne at no more than 12 years of age after the murder of his Half-Brother Edward at Corfe. The influential Aelfhere having died in 983 meant Aethelred became more vulnerable, and the Vikings began to start their raids once again. Aethelred chose to pay off the raiders rather than resist, becoming known for giving such ransoms payments willingly. This meant many hundreds of thousands of coins ended up being taken to Scandanavia where they were hoarded and why much of the coinage that survives today often exhibits "peck marks" where the Viking bankers have inserted a knife point to make sure the metal quality was good. The harrying continued until Swein Forkebeard held a great swathe of England by 1013, and Aethelred was under threat in London retreating to the Isle of Wight. England submitted to Swein but he died suddenly on the 2nd February 1014 at Gainsborough giving Aethelred the advantage and driving the Vikings out. Canute the second son of Swein, returned to attack in 1015 and by early 1016 was marching on Mercia, Aethelred however passed away on 23rd April 1016 in London at around the age of 52 just as his second son Edmund was moving south to link up with the army. Edmund was elected King but the army was his priority, and after winning a few battles suffered a defeat at Ashingdon on 18th October 1016. He retreated possibly wounded to West Mercia and negotiated a treaty giving him rule of Wessex. However Edmund died in Oxford on the 30th November 1016 giving control to Canute.

Buckingham situated on the River Ouse in 17 miles north of Aylesbury and mentioned in the Burghal Hidage. Edward the Elder marched there in 914 and built forts on either side of the river. The Danes later reached the town in 1010 and ravaged it.

The legends translate as "Aethelred, King of the English" and "Aelfwi moneyer of Buckingham".

Provenance:

Ex Richard Cyril Lockett, English part I, Glendining, 6th June 1955, lot 700 sold for £30.

Ex Collection of an English Doctor, part one, Sovereign Rarities, London, March 2022.

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