Elizabeth I 15 Shillings Coin

The Elizabeth I “Ship” Ryal of 15 Shillings is the single greatest numismatic rarity of the Elizabethan era. A high-grade specimen recently sold for a record-breaking $372,000 (approx. £293,000) at auction. Total mintage for the 15-shilling Nobles was fewer than 3,000 units struck between 1584 and 1587.

Value and Rarity
Because of its extreme scarcity, value is heavily dependent on condition and provenance.
Recent Auction Record: A specimen graded MS63 by NGC from the Cara Collection realized $372,000 in November 2025.
Average Market Value: Coins in “Very Fine” (VF) condition are typically catalogued around £65,000, though they rarely appear for sale.
Previous Sales: An XF45 graded piece sold for $72,000 in early 2025, while a high-grade example realized over $180,000 in 2015.
Survival Rate: Research from 1989 traced only 12 known examples in private hands, with very few added to that count since.

Mintage and Purpose
Mintage Figures: Official records indicate that only 3,000 of these 15-shilling Ryals were issued.
Production Period: Authorized by a Privy Seal Warrant on 20th April 1584, they were struck at the Tower Mint in London until 31st January 1587.
Military Funding: These coins were specifically produced to help finance the Earl of Leicester’s military expedition to the Netherlands in 1585.
Standard: They were struck in “Fine Gold” (23-carat 3.5-grain, or 99.5% pure) to match European trade standards.

Identification Features
Obverse: Features Queen Elizabeth I standing in a Tudor warship, holding an orb and sceptre, with a rose on the hull and an “E” on the banner at the bow.
Reverse: A floriated cross with a rose on a radiant sun at the centre and crowned lions in the angles.
Mint Marks: Most genuine English specimens feature the Escallop or “A” mint mark.