Edward III gold Quarter-Noble, third period (1346-51)

Edward III (1327-1377), gold Quarter-Noble of one shilling and eight pence, third coinage, third period (1346-1351), quartered shield of arms in tressure of six arcs, fleurs in spandrels, Latin legend and beaded borders surrounding, chevron barred As in legend, ED WAR'x Rxx AnGLxx Zx FRAnCx Dxx hyB, rev. large E in central compartment of ornate cross with lis terminals, crown over lion in each angle, all within beaded and linear tressure of eight arcs, Latin legend and beaded border surrounding, initial mark cross pattée, EXALTABITVRxx Inxx GLORIAxx weight 2.05g (Schneider 7-8; N.1112; S.1483). Some light porosity and weakness at top both sides, otherwise toned, very fine and rare.

This is an example of the second earliest Quarter-Noble struck, dating from 1346 with the reverse carrying the initial letter E of King Edward at centre. The Noble and its fractions quickly became the most successful gold denomination not just in England but also for trade into Europe where the denomination was easily divisible into the European Mark.

This issue in the third period of the third coinage was indentured on 28^th July 1346 with Lote Nicholyn, George Cleckyn and others with a slight reduction in weight from the previous issue. A further indenture in this period with a new master on the 27^th January 1349 mentions for the first time the fineness of the gold as 23 carat 3 ½ grains (0.995) fine. Coinage output in this early period was much smaller than what was to follow in the fourth coinage from 1351 with a mere 9,500 pounds in weight of gold issued over the near five year period which is smaller than what was produced in a year not much later.