A Rare 12th Century Silver Penny Coin Depicting Malcolm IV of Scotland Goes on Display in Dunfermline to Mark King’s Coronation

A rare 12th century silver penny, which depicts Malcolm IV of Scotland, is set to go on display in Dunfermline to mark the King’s Coronation. The medieval coin was discovered by an amateur detectorist in a field near Aberdour, Fife, in 2020, and weighs 1.5g. It will be exhibited at the reading room of Dunfermline Carnegie Library and Galleries until June 30.

Malcolm IV of Scotland was only the second Scottish monarch to issue coins, with the first being his grandfather David I. The coin on display was likely minted in the Scottish Borders, at either Roxburgh or Berwick. One side features the bust of the crowned king, with his face just visible, flanked with sceptres. The other side shows a medieval symbol known as the cross fleury.

Malcolm, who reigned from 1153 to 1165, lived for only 12 years, which means that objects related to his reign are scarce. Throughout his reign, he was plagued by ill health and was threatened by other claimants to the throne, including Henry II of England and Fergus, Lord of Galloway.

Kirke Kook, a curator at OnFife, which runs the exhibition venue, said that the coin offers “a rare and tantalising glimpse into the life and reign of a young king.”

Dunfermline was recently granted city status by Charles last year, and the exhibition of this rare medieval coin is one of the many ways in which the city is celebrating its history and heritage. The exhibition is expected to attract history enthusiasts, coin collectors, and tourists alike.

In conclusion, the rare medieval coin depicting Malcolm IV of Scotland is a valuable historical artifact that sheds light on the life and reign of a young king. Its display in Dunfermline is a testament to the city’s rich history and heritage, and it provides a unique opportunity for people to learn about the past and the role of Scotland’s monarchs in shaping it.

Silver Penny Coin and the history

Who was Malcolm IV?

Malcolm IV, also known as Malcolm the Maiden, was a Scottish king who ruled from 1153 to 1165. He was the grandson of David I of Scotland, who had established the Scottish monarchy as a major political and cultural force. Malcolm succeeded his grandfather to the throne at the age of 12, following the death of his father, Prince Henry.

During his reign, Malcolm faced numerous challenges, including threats from English and Scottish nobles who sought to gain power and influence in Scotland. He also struggled with poor health and is said to have suffered from epilepsy. Despite these challenges, Malcolm is remembered as a just and competent king who continued the work of his grandfather in strengthening the Scottish monarchy.

Malcolm died without any legitimate heirs and was succeeded by his younger brother, William the Lion. Today, Malcolm is remembered as one of Scotland’s lesser-known monarchs, but his reign is notable for the issuance of coins bearing his image, including the rare 12th century silver penny currently on display in Dunfermline.

Who was William the Lion?

William the Lion was a Scottish king who ruled from 1165 until his death in 1214. He was the younger brother of Malcolm IV, and he succeeded him to the throne after Malcolm’s death without any legitimate heirs. William’s reign was marked by conflicts with England and attempts to expand Scottish influence in the north of England.

During his reign, William the Lion also faced challenges from Scottish nobles who sought to limit his power and influence. He was captured by the English during a military campaign in 1174 and was forced to sign the Treaty of Falaise, which placed Scotland under the suzerainty of the English crown. However, William later managed to have the treaty annulled and regained control of Scotland’s affairs.

William is remembered as a strong and capable monarch who worked to strengthen the Scottish monarchy and expand Scotland’s territorial influence. He also played a significant role in the development of Scottish law and institutions. Today, he is often referred to as William I, in recognition of his importance in Scottish history.

What is Treaty of Falaise?

The Treaty of Falaise was a treaty signed in 1174 between William the Lion of Scotland and King Henry II of England, following William’s capture during a military campaign in England. The treaty was signed at Falaise, in Normandy, France, where William was being held as a prisoner.

Under the terms of the treaty, William was released from captivity in exchange for his agreement to become a vassal of Henry II and to recognize him as his feudal lord. William also agreed to pay a large ransom, and to provide military support to Henry in his wars against other European powers.

The treaty was highly controversial in Scotland, as many Scottish nobles opposed the idea of their king becoming a vassal of an English king. However, William’s captivity and the threat of continued conflict with England convinced him to sign the treaty.

In the years following the signing of the treaty, William worked to have it annulled, arguing that he had been coerced into signing it. He eventually succeeded in 1189, when Richard the Lionheart, Henry’s successor, agreed to recognize Scotland’s independence and sovereignty.

The Treaty of Falaise is seen as a significant moment in the history of Anglo-Scottish relations, and it is often cited as an example of the tensions and conflicts that characterized relations between the two countries during the medieval period.

1 Penny – Malcolm IV Type IIa

Issuer	Scotland (United Kingdom)
King	Malcom IV (1153-1165)
Type	Standard circulation coin
Years	1153-1165
Value	1 Penny (1⁄240)
Currency	Pound Scots (1136-1707)
Composition	Silver
Diameter	21 mm
Shape	Round (irregular)
Technique	Hammered
Orientation	Variable alignment ↺
Demonetized	Yes
Number	N# 111430
References	Sp# 5016

Obverse

Forward facing bust of Malcolm IV, sceptre to the right and left.

Lettering: MALCOLM REX

Translation: King Malcolm

Reverse

Cross Fleury with pellets, rosettes or pellets with stalks in the angles.

Mint

Roxburgh, Scotland

Comments

The coinage in the name of Malcolm IV is extremely rare. The coinage of David I continued to be minted during his reign.

What brings coin rarity?

There are several factors that can contribute to the rarity of a coin, including:

1. Age: The older a coin is, the rarer it is likely to be, as many coins from ancient or medieval times have been lost or destroyed over the centuries.
2. Limited production: Coins that were produced in limited quantities or for a short period of time may also be rare, as there are fewer of them in circulation.
3. Historical significance: Coins that are associated with a significant historical event or person may also be rare, as they may have been collected or preserved over time for their historical value.
4. Condition: Coins that are in excellent condition are often rarer than those that are damaged or worn, as they may have been well-preserved over time.
5. Mint errors: Coins that contain mint errors, such as misprinted or misstruck coins, can also be rare, as they were not intended to be circulated and may have been caught by quality control measures.

The rarity of a coin is determined by a combination of these factors, as well as other factors such as the popularity of coin collecting, market demand, and the availability of similar coins on the market.

Last Updated on January 18, 2024