Scotland, James VI 1602 1/8 Thistle Merk

James VI of Scotland (1567-1625), Eighth Coinage, silver Eighth Merk of One Shilling and Eightpence, dated 1602, crowned Scottish arms, legend and beaded border surrounding, IACOBVS. 6. D. G. R. SCOTORVM, rev. crowned thistle with two leaves, legend with date and beaded border surrounding, REGEM. IOVA. PROTEGIT. 1602, weight 0.78g (S.C.B.I. 35: 1308, 1309, 1310 Ashmoleon, 1311 Hunterian; S.C.B.I. 58:1619 - 1622 inclusive Edinburgh; S.C.B.I. 71:1292 - 1296 inclusive Stewartby; Burns 2, fig.946; S.5500). Toned, reverse a little off-centre, one tiny rim split only a millimetre long, some other light surface marks, otherwise very fine.

The abbreviated Latin legends translate as on the obverse "James the Sixth, by the grace of God, King of the Scots" and on the reverse "Jehovah protects the King."

An Act of Parliament of 11^th September 1601 allowed a coinage of Thistle Merks, Half Merk, Quarter and Eighth Merk to be struck at 11 denier fine (0.916 silver). George Heriot the younger, goldsmith entered a one year contract from 1^st December 1601 for £45,899/9/6d to buy in the old money by the 1^st January 1601/2 (old style / new style) or face a fine of £100, confiscation of the old money and incarceration until the fine is paid. This was renewed on the 16^th January and later on the 23^rd December 1602. The Thistle Merk weight was 104.7 grains, the Half Merk 52.35 grains, Quarter Merk 26.18 grains and the Eighth Merk 13.9 grains. After the accession of James VI to the English throne a Thistle Merk was able to be received in England at 13 ½ pence face value as it was slightly bigger than heavier than the English shilling at its 12 Pence face value and weight of 92.908 grains. Scotland switched to the Gregorian calendar of modern dating from the year 1600 as opposed to England which did change till 1752. James VI and the Privy Council declared this from 1^st January 1600 meaning the year 1599 was officially only nine months long in Scotland.

Provenance:

Ex Mark Rasmussen Numismatist, Spring 2016, List 28, item 670.