London: A rare 440-year-old gold coin from the era of Queen Elizabeth I has shattered previous records after being sold for an astonishing $372,000 (approx. ₹3.30 crore) at a recent Heritage Auctions event. Known officially as the “Elizabeth I Gold Ship Ryal,” the coin dates back to 1584–1586 and is considered one of the most coveted collectibles in British numismatic history.
Experts believe that the coin may have been minted from gold captured by the legendary sailor Sir Francis Drake, who seized precious metal from Spanish ships during England’s turbulent maritime rivalry with Spain. While the English hailed Drake as a hero and “privateer,” the Spanish regarded him as a notorious pirate.
A Masterpiece of Tudor-Era Minting
The front (obverse) of the coin depicts Queen Elizabeth I standing aboard a ship, dressed in royal attire and holding a scepter and orb, symbolizing her authority over the seas.
The reverse features a large cross surrounded by ornate floral patterns, along with symbols such as a crowned lion and a radiant sun. Around the edge runs a Latin inscription from the Bible:
“IHS AVT TRANSIENS PER MEDIV ILLORVM IBAT,”
meaning “But Jesus, passing through the midst of them, went his way” (Luke 4:30). This inscription was common on Tudor coins of the time.
A Coin with a Story of Empire
Historians say the Ship Ryal reflects England’s growing naval confidence in the years leading up to the defeat of the Spanish Armada in 1588—a turning point that marked England’s rise as a major maritime power and set the stage for future colonial expansion.
Only a small number of Ship Ryal coins were ever produced, making surviving specimens extremely rare. This particular coin is graded Mint State 63 (MS63), a remarkably high condition for a piece over four centuries old.
Why the Coin Is So Valuable
- Extremely limited availability
- Remarkable preservation despite being 400+ years old
- Historical connection to Queen Elizabeth I and Sir Francis Drake
- Late medieval-style design, among the last of its kind
- High demand among collectors of British numismatic treasures
Kyle Johnson, Managing Director at Heritage Auctions, described it as “an extraordinary piece from an exceptional collection.”
What Is a ‘Ryal’?
The Ryal was originally a Scottish gold coin, valued at about 60 shillings, and later adopted into English coinage. Though the term no longer exists in British currency, its legacy survives in modern currencies like the Rial in Iran, Oman, and Yemen.
A Record-Breaking Sale
With this auction, the Gold Ship Ryal has become the most expensive Elizabethan-era coin ever sold, cementing its place as a historic treasure and a symbol of the golden age of English seafaring.