Paper Money

Rare 'forced' loan document from 1644 sells in London auction

This rare "forced" loan certificate for £400 to pay Scottish forces to invade England in 1644 sold for £3,000 ($4,706) Nov. 28 in a Spink auction.

Image courtesy of Spink.

A very rare “forced” loan document dating from 1644 sold for £3,000 ($4,706) in a Nov. 28 auction by Spink in England.

The certificate, one of only two known existing, was used to raise money for Scottish troops drawn from Scottish Covenanters to invade England. The covenanters joined with Oliver Cromwell’s forces to help defeat King Charles I.

The certificate is for 600 merks (£400) and was printed with a handwritten date of Aug. 22, 1644. It has an estimate of between £4,000 and £5,000. No condition of the item was given.

The concept of “forced loans” to raise money was common for both sides during the English Civil War, according to the catalog description. “The Scottish Covenanters struck a deal exchanging military support for the introduction in England of Presbyterianism. This did not happen and eventually Cromwell successfully invaded Scotland to scotch the Covenanters, who in turn later were the first to ‘crown’ Charles II. Scotland was forced into a union with the Commonwealth.”

For more information visit the Spink website.

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