Stephen Penny, Watford type northern eastern variant, Durham Mint, Fobund

Stephen (1135-54), silver Penny, North Eastern variant of Watford type (c.1136-45), Durham Mint, Moneyer Forbund, crude crowned bust with sceptre right, star to right of sceptre handle, legend and beaded border surrounding, +STIEFNE RE, rev. saltire at centre of cross moline, annulet over lis in each angle, annulet in spandrel at each limb of cross, legend and beaded border surrounding, +----ND: ON DVN, weight 0.98g (BMC Uncertain 252; Allen DM XXX; Mack 188; N.916; S.1304). Toned, struck a little off-centre with clear design elements, about very fine for issue, an extremely rare piece.

The legends translate as "Stephen King" on obverse and "Fobund of Durham" on the reverse.

This issue is theorised in North to have an ecclesiastical connection to the Bishop of Durham and is only known for this moneyer Fobund. The See of Durham had the mineral rights to the area, and it is known that quantities of silver were mined from lead ores, to therefore supply the local Mint. Perhaps the symbols upon this issue may indicate silver from this Bishopric source? The Bishops of Durham in this reign were Geoffrey Rufus 1133-40, William Cumin 1141-43, William of St Barbara 1143-53, and finally the nephew of King Stephen, Hugh De Puiset 11595. Only a few examples of these star marked coins are known. For further reading see "The Metal in Britain's Coins" by Dr Graham Birch who notes that the Bishop of Durham received three talents of silver a year from the mines which equates to 360 troy pounds of metal.

The reign of Stephen is perhaps one of the most interesting numismatically as England descends towards Civil War in the latter part of the reign, with an increasing volume in types of coinage with many poorly struck as allegiances to the King, the Empress or the various noblemen wax and wane. The first so-called Watford type is the most abundant due to the fact that a major hoard of this type turned up in the Watford area in Victorian times, rather than something describing the design, but a well struck piece is hard to find.

Often referred to as Stephen of Blois he was born in either 1092 or 1096 he was a younger son of Stephen-Henry the Count of Blois who died whilst Stephen was young, he subsequently being raised by his mother Adela the daughter of William the Conqueror. He was placed into the English court of his uncle Henry Beauclerc, where he rose in prominence and was granted extensive lands, he became Count of Boulogne by his marriage in 1125 to Matilda inheriting estates there and in Kent making the couple one of the wealthiest in England. He had earlier escaped drowning in the White Ship disaster of 1120 which claimed the life of William Aethling the son of Henry I, leaving some doubt over the succession to the English throne despite Henry nominating his daughter Matilda as heir. Later, upon the news of Henry's passing on 1^st December 1135, Stephen immediately crossed over the English Channel and with the help of his brother Henry Bishop of Winchester and Abbot of Glastonbury he took the throne declaring the preservation of order across the Kingdom took priority over any earlier oaths to support his cousin Empress Matilda. His early years were successful ones despite some attacks in the north from David I of Scotland, from Welsh rebels in the west and from Empress Matilda's husband Geoffrey from the east. In 1138 Robert of Gloucester the half-brother of Empress Matilda rebelled threatening civil war. Stephen fiercely defended his rule with support from Waleran de Beaumont, arresting a group of bishops. However, in 1139 when the Empress and Robert of Gloucester invaded Stephen was unable to crush the revolt with them taking hold of the south-west of England. Stephen was captured at the Battle of Lincoln in 1141, lost Normandy and abandoned by many of his followers, but was subsequently released after his wife Matilda with William of Ypres captured Robert at the Rout of Winchester, but the civil war continued to drag on unabated. Stephen wanted his son Eustace to succeed him and tried to convince the church to crown Eustace in advance, but Pope Eugene III refused causing disruption within the clergy. In 1153 Empress Matilda's son Henry invaded building a powerful alliance of barons to support him for the throne. The armies met at Wallingford with neither side keen to fight and negotiations began to find peace hastened by the sudden death of Eustace on the 17^th August at Bury St Edmunds, and resulting in the Treaty of Winchester where Stephen recognized Henry as heir. Stephen passed away on 25^th October 1154 from a stomach disease whilst at Dover and is buried at Faversham Abbey.

Durham is situated on the River Wear and the Norman cathedral was built between the years of 1093 and 1133. King Stephen advanced to Durham against King David of Scotland in 1135 and peace was signed there in 1139. The castle was later seized by Henry of Northumbria and William Cumin in 1141. Minting activity occurs there from the reign of William I to Henry III.

Provenance:

Ex Dix Noonan and Webb, Auction 173, 8^th April 2020, lot 139.

Ex Collection of an English Doctor part II, Sovereign Rarities fixed price list online May 2022.