Aethelred II Penny, last small cross, Bedford Mint, moneyer Leofwine

Aethelred II (978-1016),silver Penny, last small cross type (c.1009-17), Bedford Mint, Moneyer Leofwine, diademed and draped bust left within linear circle, Latin legend surrounding, +ÆÐELRED REX ANGLI, rev.small cross pattée at centre, linear circle with legend surrounding, +LEOFPINE M-O BEDEO, weight 1.42g (N.777; S.1154).Attractively toned, peck marks on reverse, otherwise good very fine.

Aethelred II issued nine types of silver Penny throughout his long 38-year reign as there was a veritable explosion in the number of mints and activity of their moneyers. According to North there are a total of up to 73 mints operating in this reign with a further 14 enigmatic readings that are uncertain. Six of the coin types ran for six-year periods with the other three being much more short-lived. The last small cross type ran into the second decade of the first Millennium and the Bedford Mint at that time had fourteen moneyers working through all types except Benediction hand.

The obverse Latin legend translates as "Aethelred King of the English" and the reverse as "Leofwine Moneyer of Bedford."

Though Aethelred enjoyed such a long reign he was known as "The Unready" literally meaning ill-counselled from a history of bad advice and decision making. Born circa 967 Aethelred was supported by his mother and partisans that were led by Earl Aelfhere of Mercia; ascending the throne at no more than 12 years of age after the murder of his Half-Brother Edward at Corfe. The influential Aelfhere having died in 983 meant Aethelred became more vulnerable, and the Vikings began to start their raids once again. Aethelred chose to pay off the raiders rather than resist, becoming known for giving such ransoms payments willingly. This meant many hundreds of thousands of coins ended up being taken to Scandanavia where they were hoarded and why much of the coinage that survives today often exhibits "peck marks" where the Viking bankers have inserted a knife point to make sure the metal quality was good. The harrying continued until Swein Forkebeard held a great swathe of England by 1013, and Aethelred was under threat in London retreating to the Isle of Wight. England submitted to Swein but he died suddenly on the 2^ndFebruary 1014 at Gainsborough giving Aethelred the advantage and driving the Vikings out. Canute the second son of Swein, returned to attack in 1015 and by early 1016 was marching on Mercia, Aethelred however passed away on 23^rdApril 1016 in London at around the age of 52 just as his second son Edmund was moving south to link up with the army. Edmund was elected King but the army was his priority, and after winning a few battles suffered a defeat at Ashingdon on 18^thOctober 1016. He retreated possibly wounded to West Mercia and negotiated a treaty giving him rule of Wessex. However Edmund died in Oxford on the 30^thNovember 1016 giving control to Canute.

Situated nearly 50 miles north-west of London in the Ouse valley, Edward the Elder secured the submission of Thurketil at Bedford in 914, the commanding Earl of the Viking Army based here and subsequently occupied the town in 915. It was later raided by the Danes in 1010 and the castle here was besieged by King Stephen in 1136.

Provenance:

Ex Baldwin Auction 38, 4^th October 2004, lot 539.

Ex Spink Coin Auction 225, 22^nd September 2014, lot 135.

Ex Classical Numismatic Group, Electronic Auction 512, 23^rd March 2022, lot 822.