Henry VIII, 1509-1547. AV Sovereign, Second coinage, im. lis (over sunburst over portcullis) / arrow. Struck 1541-1542. King enthroned holding orb and sceptre, rev. royal arms on Tudor rose. Saltire by initial mark. Double tressure on reverse. Saltire stops. 15.07 g. Whitton 5, dies O1d/R7; Schneider 570 - same dies; N.1782; S.2267. Well struck on a broad flan. Toned. VF. Rare. NGC XF 40 (8905348-004) Ex SNC April 2006, no. HS2291. Due to its size and high value, the Tudor gold Sovereign played only a minor role in the circulating currency of the period. Its function was essentially ceremonial, serving to express the power, legitimacy and majesty of the Tudor dynasty, and Sovereigns were struck sporadically as required for use at court or as gifts to foreign dignitaries. Given the considerable cost of preparing dies for such a large and ornate coin, existing dies were reused wherever possible, being adapted and renovated as necessary. The obverse die used for the present coin provides an interesting example. It was first prepared with the initial mark of a portcullis, prior to 1526, during Henry VIII's first coinage (Whitton O1a). Some ten years later it was re-employed, the portcullis being overmarked with a sunburst to commemorate the birth of the king's long-awaited son Edward in 1537 (Whitton O1b). A third issue followed sometime after 1538, when the sunburst was itself overmarked with a lis (Whitton O1c). The present coin belongs to a fourth distinct state, in which elements of the design have been recut and strengthened (Whitton O1d). The pairing of this obverse die with a reverse bearing the arrow places its issue in 1541–42. The obverse die was subsequently used for a fifth and final state, retaining the same initial mark but with further recutting and strengthening (Whitton O1e).