Portcullis Money Public Deposited
was the currency struck by Queen Elizabeth in 1600-160i, for the use of the East India Company, and it was so called from its having the Westminster Arms, i.e., a large portcullis, on the reverse. The issue consisted of Crowns, half Crowns, Shillings, and Six- pences. They were of different weights from the current English Crown and its divisions, being struck to agree with the weight of the Spanish Piastre or piece of eight Reales.
The Portcullis Groat and Farthing struck in the reign of Henry VIII were never intended for the Indian trade, and, concerning the Croat, the late Sir John Evans has suggested that "from the care- ful manner in which this piece has been struck and from the extreme rarity of this variety of the groat, it appears doubtful whether it should not he regarded as a pattern-piece rather than as a coin in- tended for actual currency."
- Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)