Scotland, James V 1540 Ducat or 'Bonnet Piece' of Forty Shillings, rare issue and faces Whitehall and the

and faces Whitehall and the date 1689

good fine to almost very fine and extremely rare

has been slabbed and graded by NGC as VF25

Britannia seated on globe left holding olive branch and spear

Scotland, James V 1540 Ducat or 'Bonnet Piece' of Forty Shillings, rare issue and faces Whitehall and theScotland James V (1513 42),gold Ducat of Forty Shillings or Bonnet piece of Three Merks, 1540, third coinage (1539 42), bonnet type, bearded profile portrait right wearing bonnet, beaded circles and legend surrounding both sides, annulet on inner circle at 9 o'clock, initial mark saltire, X IACOBVS. 5. DEI. GRA. R. SCOTOR 1540,rev. crowned Scottish arms over cross fleury, + HONOR! REGIS. IVDICIVM. DILIGIT, weight 5. 68g (Burns 4, fig. 754; SCBI 35: