Edward IV Ryal Norwich Mint, small output from a very rare mint

Edward IV, first reign (1461-70), gold "Rose" Ryal of ten shillings, light coinage (1465-70), Norwich Mint, King standing in ship holding sword and shield, mint letter n in waves below for Norwich, E on flag at stern, rose on hull, Latin legend and beaded borders surrounding, trefoil stops both sides, initial mark sun on reverse only (1465-66), ED WARD'. DI; GRA'. REX. AnGL'. Z FRnC'. DnS. I.B., rev. rose at centre on sunburst, over cross with floriate and lis terminals, crown over lion in each angle, all within beaded and linear tressure of eight arcs, fleurs in spandrels, beaded circle surrounding, stop between I and B, *IhC'. AVT'. TRAnSIEnS: PER: mEDIVm: ILLORVm. I.BAT, weight 7.48g (Schneider 422; N.1552; S.1956). Toned and design a little doubled in strike, reverse struck from a rusted die, short of flan with ingress at one part, hairline crack in flan with evidence of light filing on rim and onto reverse side, otherwise very fine and extremely rare.

The abbreviated Latin legends translate as on the obverse "Edward by the Grace of God, King of England and France, Lord of Ireland"; and on the reverse "But Jesus, passing through the midst of them, went His way" taken from the Bible.

The English coinage was devalued on 13th August 1464 in response to a decline in the Wool trade, and secondly a general shortage of coinage metal, due to the long-standing value of bullion in England being unchanged since 1412 compared to that in France. Extremely rare gold Nobles were struck in the low output times at the start of the reign until 6th March 1465. The light coinage of the new Ryal at ten shillings face value then commenced with increased output, the devaluation having placed the gold Noble value from six shillings and eight pence up to eight shillings and four pence. To deal with the increased output, branch mints were opened in the cities of York, Bristol, Coventry and Norwich, all opening from July 1465, but output apparently fell away quickly as by 1466 it seems more competitive terms for coining were offered in the Low Countries. The legacy of which is a small number of surviving coins of the branch mints of which Norwich and Coventry are the hardest to come by.

Provenance:

Ex R. Duncan Beresford-Jones Collection, Spink Coin Auction 29, 2^nd June 1983, lot 5.

Ex Spink Numismatic Circular, December 2006, item HS2678.