1 Groat - James III Light Issue of c.1467

James III's Light Issue of c.1467 reduced the groat's weight from the earlier heavy standard — a deliberate debasement driven by chronic shortages of bullion and the Crown's persistent fiscal pressures during the 1460s. Scotland was effectively competing with English and Flemish coin flowing across its borders, and lighter domestic silver was one tool for keeping metal from simply draining out of the country.

Spink 5264 is not a common attribution, and survivors in any grade above heavily worn are genuinely scarce.