EDWARD I GROAT

Get Your Groat: A 700 Year Old Treasure

The Groat was a medieval European coin equal to 4 Pence. This long-defunct denomination is well-known to collectors of British coins. The first Groat to be struck was under King Edward I, who reigned from 1272 to 1307 AD. Edward I was the son of King Henry III, who experienced turmoil during his reign when his barons rebelled and demanded reforms. The rebellion was eventually quelled, but it was shortly thereafter when Edward learned that his father had passed away, and he was now King.

Remembered as a reformer, the newly-crowned King Edward I made changes to many laws but also focused his efforts on battles with Wales and Scotland. It was against this backdrop of military turmoil that a new denomination of coin was struck for the first time. Edward I's recoinage included the groat, the penny, the farthing, and later the halfpenny. A small denomination such as 4 Pence may not sound like much now, but this was a meaningful amount of money at the time and was struck in silver rather than a cheap base metal.

Estimated at $10,000 to $15,000, this coin really stands out for its condition. Given its age and the fact that this coin was struck approximately 700 years ago, its AU50 grade from NGC suggests a far nicer than normal example.

As Heritage Auctions catalogers explain, "A highly attractive piece, featuring a strong strike and only a few light edge cracks. Steel gray dominates the toning, but some hints of cobalt and goldenrod are evident. Most importantly, this wondrous specimen has survived intact without any of the typical problems which plague the type. This large size silver denomination was introduced under Edward I in 1279, appearing alongside the still relatively new and redesigned long-cross Penny, as well as the 1/2 Penny and Farthing, and it quickly proved to be unpopular in terms of daily circulation and monetary use. However, they were revered as decorative objects, and quite commonly covered with a layer of gilt and/or mounted for ornamentation. Untouched examples such as the present piece are an incredible rarity and deserve a great deal of attention and focus, and it is a highly interesting and important piece within British numismatics."

Check out this coin as part of Heritage's January 2021 NYINC Coin Auction #3089 here:
Edward I (1272-1307) Groat (4 Pence) ND (1279-1307) AU50 N... (https://coins.ha.com/itm/great-britain/world-coins/edward-i-1272-1307-groat-4-pence-nd-1279-1307-au50-ngc-/p/3089-19006.s)

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