Ira and Larry Goldberg Auctioneers
Auction 98 6-7 Jun 2017
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Great Britain. Five Guineas, 1683/2. S.3331; Fr-281. Charles II. Second draped bust right. Reverse; Crowned cruciform shields, scepters in angles. A nice portrait and good detail in the royal shield. Only small, scattered contact marks on each side, remarkable for this large-size coin that clearly saw commercial use as money. Pleasing old-gold toning as well. Very scarce. PCGS graded AU-50. WINGS. Estimate Value $14,000 - 16,000
Five golden guineas-it was a piece of money so valuable in the late 17th century that no commoner was likely ever to see, let alone hold or own, one. It could have bought barrels of beer. It could purchase a fine carriage and horses. It could feed a farming family for months. It was a rare piece of money even in 1683!
Gold itself had long been truly scarce in England. It had only become plentiful enough to be used as money during the reign of Edward III, three centuries earlier. But the royal navy had extended English influence to some of the far corners of the globe by the 1680s, and commerce had come alive via trading. An exploration company headquartered in the city of London was importing gold ore from the continent of Africa by the 1660s, and suddenly the banks and traders had solid gold coins, lots of them, with which to do business. The place of discovery, a colony along the northwest coast of Africa, was given the honor of providing the name of the new series of gold coins-minted in halves, wholes, doubles, and quintuples. The largest of all were the 5-Guineas. Their influence would allow this island nation to spread its power across the world, in pursuit of empire.
Five golden guineas-it was a piece of money so valuable in the late 17th century that no commoner was likely ever to see, let alone hold or own, one. It could have bought barrels of beer. It could purchase a fine carriage and horses. It could feed a farming family for months. It was a rare piece of money even in 1683!
Gold itself had long been truly scarce in England. It had only become plentiful enough to be used as money during the reign of Edward III, three centuries earlier. But the royal navy had extended English influence to some of the far corners of the globe by the 1680s, and commerce had come alive via trading. An exploration company headquartered in the city of London was importing gold ore from the continent of Africa by the 1660s, and suddenly the banks and traders had solid gold coins, lots of them, with which to do business. The place of discovery, a colony along the northwest coast of Africa, was given the honor of providing the name of the new series of gold coins-minted in halves, wholes, doubles, and quintuples. The largest of all were the 5-Guineas. Their influence would allow this island nation to spread its power across the world, in pursuit of empire.