Press Release 28 February 2006

SPINK FINDS YET ANOTHER RARITY TO AUCTION

Spink are proud to announce the discovery of an Edward III Gold Double Florin  (Also known as a Double Leopard). This coin, which was recently discovered by a metal detectorist in the South of England, is the third known specimen, and is the only one in private hands.

Only two specimens were previously recorded - both found in the bed of the river Tyne in 1857, both in the British Museum. No other specimens were known until this coin was discovered and dug up within the last month by a metal detectorist in the south of England. This is therefore the third recorded specimen and the only one in private hands available to the market. It is a slightly different variety to either of those in the British Museum, and is as such unique. It is estimated at £100,000-£150,000. It will be offered for sale in Spink's London auction rooms on Thursday June 29th.
 
The finder was working with the permission of the landowner who has a joint interest in the coin - the proceeds of the sale will be divided between them. In order to protect the site the find spot is not being disclosed.

This will be a unique opportunity to acquire a most important milestone in the history of English coinage, and is also a most attractive specimen of medieval art with its delicate Gothic architecture.

Description
Edward III (1327-77) gold "Double Florin", also known as Double Leopard, struck in 1344. It had a face value of 6 shillings, and is 35 mm diameter. It was first authorised on 14 December 1343, but was replaced by a new coinage of Nobles on 9th July 1344. It was therefore only issued for seven months.

The design consists of a full length portrait of Edward III seated on a throne, holding a sword and sceptre, below a Gothic portico, with crowned leopard's heads on each side, decorated with fleur de lis. The reverse consists of a floriate cross within a quadrilobe with small leopards in the angles.

History
The issue of the Double Florin represents the first coinage of large gold coins in England, after many centuries of coinage that only consisted of silver, and was intended primarily for foreign trade. A few small earlier small gold coins of the Anglo-Saxon period are known, but only eight exist, and all of the eight are quite different from each other. Expert opinion is divided on whether they were used for ceremonial purposes or were intended for circulation. The latest one was bought by the British Museum this month for around £355,000, after being auctioned by Spink on 6th October 2004. The British Museum held up permission for its export by an American buyer at the auction and was eventually successful in buying it. It is 20 mm. diameter, smaller than a current £1 coin. All eight are now on display in the British Museum.
This issue of double florins followed as the first documented attempt to issue an English gold coinage. With a diameter of 35 mm they were much bigger, larger than an old halfcrown.
The double florin was not successful partly because of the high costs of production, and also as it was an awkward denomination as it did not divide conveniently into the pound. However, it was immediately followed by the issue of gold nobles (face value 6 shillings and 8 pence, a third of a pound), which continued for over 120 years.

The denomination was based on the gold Florin of Florence, and the design was derived from a French gold coin ("masse d'or") of Philip IV of France (1285-1314). Edward’s issue of large gold coins was emblematic of the might of England during his reign. Edward ruled not only England but also much of France which he claimed through his mother Isabella, daughter of Philip IV. It was Edward’s brilliant son, the Black Prince, who secured English interests on the continent with his stunning victories at Poitiers and Crecy.

For all auction enquires please contact Jeremy Cheek:

Jeremy Cheek
Coin Auctions
Spink 69 Southampton Row
London WC1B 4ET
tel. +44 (0) 207 563 4054
fax +44 (0) 207 563 4068
jcheek@spink.com
www.spink.com

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