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GM23685

Aethelred II, Penny, small CRVX type, Louth Mint, moneyer Drengr

Aethelred II (978-1016),silver Penny, small CRVX type (c.991-997), Louth Mint, Moneyer Drengr, draped bust left with sceptre, linear circle and legend surrounding, commences at top, +ÆÐELRED REX ANGLOX, the NG ligatured, rev.voided cross within linear circle, CRVX letters in consecutive angles, +DRE.NG M-O LVÐE, weight 1.28g (BMC III; BEH -; N.770; S.1149).Toned with slight bend, with a nice bold portrait extremely fine and of the highest rarity, only two known of this mint and type, both from this hoard, with none represented in museums.

The moneyer Dreng is known at Lincoln and is likely to be the same moneyer operating at this mint at Louth seemingly earlier in his career. The only other coins known of the Louth Mint at present are a Penny of Edward the Martyr and one of Aethelred II second hand type. The Millennium Hoard is so memorable for the first public appearance of the mint pieces of Louth, as well as other great rarities like Melton Mowbray also in the English Doctor Collection.

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.

Louth in Lincolnshire is situated on a junction of an ancient trackway with the River Lud and is named after the fast flowinf river that once had up to 13 watermills upon it. The Danes left their mark with the many Viking style street names and the population was about 600 at the time of the Domesday survey.

The legends translate as "Aethelred King of the English" on obverse and "Drengr of Louth" on the reverse.

Provenance:

Ex Millennium Hoard, Suffolk, Dix Noonan and Webb, Auction 165, 4th December 2019, lot 33.

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

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