Scottish Coins

The first king of Scots to produce his own coinage was David I, 1124–1153. He struck silver pennies, which were similar to those Stephen struck for England, at Carlisle, Edinburgh, St Andrews, Roxburgh and Berwick. Scottish coins followed English weight standards, allowing the two coinages to circulate alongside one another.

David II ended the parity between Scottish and English coins, resulting in an English proclamation banning the lower quality Scottish coins from their country in 1356. Under James III English influence of Scottish coinage gave way to Burgundian models, with both his gold rider and silver plack. He is best remembered, however, for the realistic portraits on his silver groat.

James III also introduced the gold unicorn. This was one of a long series of coin types which characterized continuing changes in standard and revaluations of Scottish coinage. Ordinances required Scots to turn in their old coins in exchange for new issues struck to a lower standard, thereby providing a profit to the king. James VI alone had eight issues of coins before he unified the thrones, and to a large extent the coinages, of Scotland and England.