No collection of English coins is complete without “The First Lizzie”—Elizabeth I.

This tiny hammered silver coin represents the day-to-day currency of the Elizabethan age. While the rich handled gold Angels and silver Shillings, this One Penny coin was the engine of the economy. It was the price of a loaf of bread, a pot of ale, or a standing ticket to see a play at Shakespeare’s Globe Theatre.

The Historical Context: The Sixth Issue

This coin belongs to the Sixth Issue of Elizabeth’s reign (minted between 1582 and 1600).

By this time, Elizabeth had successfully restored the purity of English silver after the debasement caused by her father, Henry VIII. This tiny coin is struck in full Sterling Silver, a standard that established London as a financial hub.

The Coin: Elizabeth I Penny (Sixth Issue)

  • Denomination: Penny (1d)
  • Monarch: Elizabeth I
  • Date: Undated (struck c. 1582–1600)
  • Mint Mark: [Indistinct]
  • Metal: Sterling Silver
  • Reference: Spink 2575

The Details:

  • Obverse: A bust of the Queen facing left. Unlike the larger denominations (Sixpence/Threepence), the Penny does not feature a rose behind the head.
  • Reverse: The long cross over the shield. The legend reads CIVITAS LONDON (“City of London”), indicating it was struck at the Tower of London.

Condition & Grading

Hammered pennies are notoriously difficult to grade because they are so small (only 15mm).

  • The Shape: Typical for the era, the coin is slightly irregular (“clipped”), but the essential details remain.
  • The Portrait: The Queen’s features are worn, which is expected for a coin that likely changed hands thousands of times in the markets of London.
  • The Legend: The crucial CIVITAS LONDON text on the reverse is legible, confirming the attribution.

Grade: Good Fine (for issue)
A clear, honest example of the coin that fueled the Elizabethan economy.

The Verdict

This coin proves that historical significance isn’t measured in size. At just 15mm across, it is easily overlooked, yet this was the coin of the common people.

While we admire the large gold Sovereigns in museums, this silver Penny is the coin that actually built the Elizabethan economy. It likely paid for a loaf of bread, a tankard of ale, or—most evocatively—a “groundling” ticket to see a play at the Globe Theatre. To hold this coin is to hold the literal price of admission to Shakespeare’s London.

Further Reading & Data: