Aethelred II Penny, Long cross type, London, Wulfstan, ex Millenium Hoard and English Doctor

Aethelred II (978-1016), silver long cross Penny (c.997-1003), London Mint, Moneyer Wulfstan, draped bust left Latin legend and beaded outer border surrounding both sides, legend commences lower left, +ÆÐELRÆD REX ANGI., the NG ligatured, rev. long voided cross with tri-crescent ends, +PVL FSTA N M.O L VND, weight 1.56g (BMC IV, 263; BEH 1530; SCBI 7:962-5; N.774; S.1151). Toned, slight bend in flan, a bold very fine.

North lists 73 named mints in operation during the reign of Aethelred II with a further 14 unallocated. According to North London operates with 99 moneyers in all types with an additional three other uncertain names.

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 2^nd 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 23^rd 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 18^th 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 30^th November 1016 giving control to Canute.

Capital City London upon the River Thames following Roman occupation, minted some of the earliest Saxon coins with gold Thrymsas and silver denarii with a "Londuniu" signature. Mercian Kings beginning with Offa minted coins there, but the first coin to actually say City of London upon it is the unique Ludica portrait Penny that was found in 2016, followed by subsequent coins of Ecgberht. In 871 the Danes wintered in London for the first time but was King Alfred of Wessex who settled and fortified the capital circa 880 to resist further invasions. Edward the Elder incorporated the City in Wessex in 911 and it resisted a major attack in the reign of Aethelred II in 1009. However London submitted to the Danish Swein in 1013, but three years later the citizens accepted Eadmund Ironside as King and resisted a siege by Canute.

Later unsettled times occurred in the anarchy period of the reign of King Stephen, remaining loyal to the King except for a few months in 1141 when Empress Matilda was admitted but within a short time expelled.

The legends translate as "Aethelred, King of the English" and "Wulfstan of London".

Provenance:

Ex Millennium Hoard, Suffolk, Dix Noonan and Webb, Auction 165, 4^th December 2019, lot 74.

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