Ira and Larry Goldberg Auctioneers
Auction 96 14-15 February 2017
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Great Britain. Pattern Proof Farthing struck in silver, 1699. Peck-682. William III. Date in obverse legend. No stop after date. With a light peripheral tone and very rare in this high grade. At least as good as the Colin Cooke Collection specimen. NGC graded Proof 61. WINGS. Estimate Value $1,400 - 1,600
* Peck writes (page 168 of his work) ' Considered as a whole, William III's copper is of poorer quality than the 1694 issue of William and Mary, but as the proof pieces clearly show, this was not because of any falling-off in the quality of the punches or designs; it was the method of production that was at fault, and most of the blame for this must rest squarely on the contractors who seem to have used every possible means of increasing their profits by employing cheap processes and slipshod workmen. They got their working dies made at low rates by the out-of-work moneyers at the Mint, who then struck the blanks as their agents instead of as principals, and despite the stipulation in the contract that the blanks should be rolled and cut, they had most of the coins struck on cast blanks, which explains their frequently pitted surfaces and poor definition.'
In contrast to the poor quality of the currency coinage, the standard of production of this silver pattern or proof farthing is outstanding.
* Peck writes (page 168 of his work) ' Considered as a whole, William III's copper is of poorer quality than the 1694 issue of William and Mary, but as the proof pieces clearly show, this was not because of any falling-off in the quality of the punches or designs; it was the method of production that was at fault, and most of the blame for this must rest squarely on the contractors who seem to have used every possible means of increasing their profits by employing cheap processes and slipshod workmen. They got their working dies made at low rates by the out-of-work moneyers at the Mint, who then struck the blanks as their agents instead of as principals, and despite the stipulation in the contract that the blanks should be rolled and cut, they had most of the coins struck on cast blanks, which explains their frequently pitted surfaces and poor definition.'
In contrast to the poor quality of the currency coinage, the standard of production of this silver pattern or proof farthing is outstanding.