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The king's majesty, his council and commissioners appointed by his highness, his nobility and estates to take order with the coin, considering the great hurt and inconvenience which his majesty and the commonwealth of this realm presently sustain, not only through the diversity and choice of sundry species of money current within the same and by the abundance of a great quantity of false money having course amongst his highness's lieges, but also by the heightening and raising the prices of all sorts of money, as well foreign as coined within this country, preceding as well appears of a certain presumption and liberty ascribed by some particular persons in receiving and giving forth at all times all species of gold and silver upon such high prices as may best tend to their own commodity, without regard or consideration had to the common good of this realm, or to his majesty's right or profit of his coin, being one of the special parts of his highness's rent and casualty belonging to his crown; which profit his highness at this time respects not so much as by the order and conclusion now set down to have the present disorder and confusion in the coin in time coming removed and a settled order and form set down thereupon, as near to imitate our neighbour country as the present estate of this realm will permit; for this purpose, his majesty, with advice of his said council and commissioners, has thought suitable and concluded by this act that the whole gold, silver and alloyed money now current within this realm (the thistle noble with the penny and two penny placks only excepted) shall be reduced and struck as follows, to wit, the gold in a species of gold of twenty-two carat fine, with two grains of remedy of fine, as well above as under, the ounce thereof to be set forth at twenty-seven pounds, whereof fifty-four pieces shall weigh the merk weight, with one grain of remedy of weight upon each piece, and to have course for £4 the piece, with halves accordingly upon the said remedies, having on the one side his highness's portrait according to the painter's drawing, with this circumscription, 'Jacobus 6 Dei Gratia Rex Scotorum' and on the other side a lion crowned, sitting in a chair, holding a sceptre, pointing to a cloud, with 'Jehovah' in Hebrew above the same, with this circumscription, 'Te Solum Vereor', with the date of the year. And likewise that the whole silver and alloyed money, except before excepted, shall be reduced and struck in a silver species of money of the refinement of ten deniers and one half, with two grains of remedy of fines, as well above as under, the ounce thereof to be set forth at 44s, whereof fifty-two and four-fifth parts shall weigh the merk weight, with two grains of remedy, as well heavy as light, upon each piece, and to have course for 6s 8d, with halves accordingly upon the said remedies, each piece having on the one side a sword, with a pair of balance lying across, with this circumscription, 'His Dissert Rege tirannus', and upon the other side his majesty's arms in a shield, with the crown above and a thistle on each side, with this circumscription, 'Jacobus 6 Dei Gratia Rex Scotorum', with the date of the year, with a several mark in the beginning of the circumscription on both gold and silver. Wherefore, and to the effect this good work may the better and with greater diligence take effect and execution, for the common good and commodity of all estates of persons within this realm, his majesty, with advice of the said lords and commissioners, ordains letters to be directed charging all and sundry his highness's lieges, by open proclamation at the market crosses of the head burghs of this realm, to bring in and deliver to his majesty's master coiner in his highness's coin-house, or to such others as shall be authorised by his commission to that effect, the whole alloyed money current within this realm, except before excepted, within the space of three years after the date hereof; and likewise the whole gold and silver between now and 1 November 1593, except the thistle noble, which his majesty, with advice of the said lords and commissioners, ordains to be continued in working according to the first ordinance in all points, for the which they shall receive payment in the said new coin or thistle nobles, which his majesty, with advice aforesaid, ordains to serve to be received among his highness's lieges in time coming: that is to say, for each ounce of eleven deniers, 42s, for each ounce of ten deniers and a half, 40s, for each ounce of half merk and 40d pieces, of eight deniers, 30s 6d, and for each ounce of 8d and 4d pieces, 11s 3d money aforesaid, and for all other alloyed money which is subject to refining, as bawbees, 3d groats, 12d groats and grey placks, such prices as they were coined for or have had course in time bygone. Be it always understood that his majesty's master coiner shall be no further bound but to receive with each five ounce of eleven deniers, one ounce of half merk and 40d pieces, for the which he shall deliver to the owners in printed money the prices aforesaid, or else the same weight that he shall happen to receive at the option of the party, retaining only the twelfth part thereof for his majesty's duty and satisfaction of his officers and workmen's labours, and shall pay for all other silver above the said quality accordingly; and likewise the said master coiner shall pay for every ounce of gold of twenty-two carat fine, £24 15s, and for all other gold accordingly proportionally, so that he shall deliver or pay the aforesaid prices or the just weight received thereof in the new coined money aforesaid, retaining the twelfth part thereof as is above-specified. Certifying all and whatsoever persons who shall not bring in the said gold, silver and alloyed money within the time above-mentioned, that the same shall be decreed to have no further course thereafter. Moreover, his majesty and the said commissioners, considering the great disorder and diversity in the prices, as well of his highness's own as of foreign gold and silver, the same being given out often times by some persons in exchange upon high prices and refused to be received by others upon the same price, to the great hurt of sundry his highness lieges, therefore his majesty, with advice of the same commissioners, has thought suitable and concluded that no foreign gold shall have course amongst his highness's lieges hereafter except the species following upon the prices particularly under-mentioned: that is to say, the old rose noble of weight, £6 13s 4d, the double ducat of weight, £6; the angel noble of weight, £4 8s, the crown of the sun of weight, 56s; the pistolet of Spain of weight, 55s; and in like manner that the piece of gold coined within this realm for 44s shall now give £4; the old £3 piece with the queen's face, £6; the abbey crown, 53s 4d; the £4 piece with the king's face, £4 10s; the lion noble, £4, discharging by this act all other species and sorts of gold to have course within this realm at any time hereafter, as also all and sundry his highness's lieges of receiving or making exchange therewith, under the pain of escheating of the same to his majesty's use and punishment of their persons at his highness's will. And likewise his majesty ordains the English testan to have course hereafter within this realm upon the price of 8s, the 40s piece 40s, the new 30s piece 30s, and so the two and third parts thereof proportionally, certifying also whatsoever persons who shall either receive or give out in exchange any of the said testans, forty 30s pieces, two and third parts thereof, upon a higher price, that the same shall also be escheated and intromitted with to his highness's use and they otherwise punished in their persons as is appropriate; and that none of his highness's lieges refuse to receive the said new species of gold, silver and thistle nobles in thankful payment under the pain of treason, commanding the general master coiner and remaining officers of his highness's coin-house, each one in their own offices, to do their diligence in working of the same species of gold, silver and thistle nobles according to the tenor of this act as they will answer upon the execution of their offices. Moreover, his majesty ordains all acts and proclamations made inhibiting the transporting of gold and silver out of this realm to be put into due execution in all points and the persons, contraveners thereof, to be punished according to the tenor of the same with all rigour and extremity.