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Coin (obverse), 'penny', from reign of James III

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Coin (obverse), 'penny', from reign of James III
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This is the obverse of a silver 'penny' minted at Edinburgh between 1482 and 1484, during the reign of James III. The coin was worth one penny Scots. Although called a penny, because of the rising price of silver the coin was worth three pence Scots.

The obverse bears a crowned bust. The Latin inscription translates as: 'James, by the Grace of God, King of Scots'.

James III's reign saw a number of major coinage innovations including two new gold coins - the rider and the unicorn; a large billon coin - the plack; and thistle-heads and a realistic portrait of the king appearing on coins for the first time.

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