1 Lion - Robert III Heavy Coinage, 2nd Issue

Robert III's heavy coinage was introduced in 1390 at a standard closely following the English noble, an alignment that reflected Scotland's sustained attempt to maintain parity with English gold during a period of chronic monetary pressure on both sides of the border. Robert himself was largely incapacitated for much of his reign — his son David, Duke of Rothesay, held the effective regency until David's suspicious death in Falkland Castle in 1402, almost certainly engineered by the king's brother, the Duke of Albany. The coinage was thus administered through a deeply unstable regency structure.

The 2nd issue is distinguished from the 1st by subtle die modifications documented by Spink and Stewart.