George V, sovereign, 1916C, bare head l., rev. St. George and the dragon, C above date (S.3997; M.224), about uncirculated, lustrous with pleasing surfaces and gold colour, extremely rare
*ex St James's Auction 21, 19 April 2012, lot 525, realised £31,620 inc. b.p.
This famous Canadian issue, struck at Ottawa to the tune of a mere 6,119 pieces, is the key to the series and is most desirable in this well-preserved condition. Thirty-five years ago, Marsh assigned a rarity rating of R5 to the 1916C and it's still the most difficult Canadian sovereign to obtain for most collectors. Clearly, much of the meagre issue suffered melting as part of the war reparations following World War One: who would have noticed, among the millions of sovereigns thus remanded to liquid state, the few thousand coins of this issue? More to the point, how did any manage to survive?
Estimate: £17,500-20,000