Unicorn (coin) facts for kids

The unicorn was a special gold coin used in Scottish coinage (money system) between 1484 and 1525. It was named after the mythical creature, the unicorn, which was a very important symbol for Scotland.

What Was the Unicorn Coin?

The unicorn coin was first made when King James III ruled Scotland. It was worth 18 shillings Scots. A "shilling Scots" was a type of money used in Scotland a long time ago.

Later, when King James V was in charge, the price of gold went up. This meant the unicorn coin became more valuable. Its worth increased first to 20 shillings, and then to 22 shillings.

Why a Unicorn?

The front side of the coin, called the obverse, showed a crowned unicorn. The unicorn was chosen because it is one of Scotland's main heraldic symbols. This means it's an important image used on flags, shields, and royal items.

You can still see two crowned and chained unicorns on the royal coat of arms of Scotland. They stand on either side of the shield, acting as "supporters" for the royal symbol.

How Much Was It Worth?

When the unicorn coin was first made by King James III, it was worth 18 shillings Scots. As time passed and the price of gold changed, its value also changed.

During the rule of King James V, the coin's worth went up. It became worth 20 shillings, and then later, 22 shillings. This happened because gold became more expensive.

The Half-Unicorn Coin

Scottish "unicorns" from the reigns of James III (top left) and James IV (bottom right). The half-unicorn is on the bottom left.

A smaller coin called the half-unicorn was also made when King James IV was king. It was worth 9 shillings. Just like the full unicorn coin, its value also increased under King James V. It went up to 10 shillings, and then to 11 shillings.

Gifts and Diplomacy

The unicorn coin was often used by Scottish kings to give as gifts to important people from other countries. For example, in 1503, King James IV gave 100 unicorn coins to Lord Dacre. Lord Dacre was the English ambassador, which means he was a representative from England. This shows how important and valuable these coins were.

The End of the Unicorn Coin

The unicorn coin was eventually replaced. This happened during the time of King James V. A new gold coin called the "gold crown" or "Abbey crown" took its place. This new coin was worth 20 shillings.