1 Shilling - James I Fourth Bust

James I inherited a monetary mess in Ireland. The Nine Years' War had ended in 1603 leaving the island flooded with debased and clipped coinage, much of it the product of Elizabeth I's deliberate debasement policy toward Irish silver issues. The 1604 recoinage was an attempt to restore credibility to the Irish monetary system under unified Stuart rule, though the shilling issues of this period still circulated well below their nominal English equivalents in practice.

The KM#15.1 and 15.2 distinction reflects a die variation in the bust treatment documented by Spink — collectors working this series should consult Simon's works alongside Dowle and Finn for attribution.