Gresham and the Pearl.

When Queen Elizabeth visited the Exchange, Sir Thomas Gresham, it is said, pledged her health in a cup of wine containing a precious stone crushed to atoms, and worth £15,000. If this tale is true, it was an exceedingly foolish imitation of Cleopatra (q.v.).

“Here fifteen thousand pounds at one clap goes

Instead of sugar; Gresham drinks the pearl

Unto his queen and mistress. Pledge it, lords.”

Heywood: If You Know Not Me You Know Nobody.

To dine or sup with Sir Thomas Gresham. (See under Dine.)

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Entry taken from Dictionary of Phrase and Fable, edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.