KM-101 variety.

The first example of ‘gun money’ we have ever offered on this site, and a most interesting piece on many levels:

History tells us that King James II of England was deposed and fled to France in 1688. In 1689 he surfaced in Ireland in an attempt to reacquire his throne. Short of money, he issued a series of coins struck in base metal to pay for the supplies he needed. These coins are known as ‘gun money’ because legend has it that they were struck on planchet stock produced from melted down cannons.

The coins are dated by year and month based on James’ commitment to redeem them (one month’s allotment at a time) for proper precious metal coins after he was back in power.

Alas, with his defeat at the Battle of Boyne in 1690, James II lost his bid to re-ascend to the throne and the coinage issue became worthless (except to collectors, a few hundred years later).

As for the coin itself, we’ve never seen one in any condition that remotely approaches this piece. Mellowed golden brass in appearance, with actual luster remaining. Just some minor planchet voids (as struck) and a single darker patch at 11 o’clock on the reverse bear mention.

Suffice it to say that if you are looking for a single example of this enigmatic issue, then this coin would be an excellent selection.

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