Obverse:

IACOBVS D G MAG BRIT FRAN ET HI REX. Crowned bust r. with value mark XII behind.

Reverse:

QVÆ DEVS CONIVNIT NEMO SEPARET. Large shield.

A striking split and historic, toned scratches above the mark of value, otherwise about very fine, toned and the sinker's errors interesting.

In their die study of James I shillings, Gary Oddie and Michael Thompson noted only two die-sinker errors for this mintmark, both on reverse dies. One of these was this current reverse die, reading CONIVNIT rather than CONIVNXIT. We note that this obverse also contains an incorrectly positioned mark-of-value punch which, along with its attempted obliteration, was subsequently correctly positioned further above. This feature is visible on the four published examples of this obverse die in the study, but is particularly clear on this example and on example P6. This die combination of O2 and R9 was also unknown to Oddie & Thompson.

For the die study see:

Oddie, G. & Thompson, M. (2023), 'A Die Study of James I Shillings – Second Issue, mm Bell', British Numismatic Society Research Blog, 19 September 2023. https://britnumsoc.blog/wp-content/uploads/2023/09/401-bell-oddie-thompson-blog-001.pdf