1 Penny - Alexander III 1st Coinage, Type III

Alexander III's first coinage underwent a quiet but deliberate evolution across its types, with Type III distinguished by subtle changes to the lettering and star positioning that modern researchers use to sequence the issues chronologically. Scotland's mint infrastructure in this period was thin — Perth, Berwick, and Edinburgh did the heaviest work, but output was distributed across a network of burghs whose dies were cut with varying degrees of precision, producing the kind of inter-mint inconsistency that makes attribution a genuine specialist exercise.

The reign itself was unusually stable by medieval Scottish standards, which kept these pennies in active use well into the following decades.