Watch List notes:

George IV (1820-30), silver Proof Halfcrown, 1823. First laureate head left, B.P. below for engraver Benedetto Pistrucci, Latin legend and toothed border surrounding, GEORGIUS IIII D:G: BRITANNIAR: REX F: D: rev. inverted die axis, second crowned quartered shield of arms, with a crowned escutcheon of the Arms of Hanover, within Order of St George and buckled Garter with French motto, HONI. SOIT. Q MAL. Y. PENSE. Date to lower right with ANNO to left, edge milled, weight 14.11g (Bull 2366 R3; ESC 635 R3; Davies 181; S 3808; KM 688). Attractively toned, practically as struck, extremely rare, in NGC holder graded PF 65, Pop 1; tied with another PCGS PR-65 piece as the finest examples graded at both services. Estimated Value $7,500

Ex Nihon Coin Auction, Tokyo, Japan, March 2009, lot 2058.

NGC certification 2722100-008. This appears to be the finest graded of the three proofs of 1823 showing as slabbed by NGC; none appear to have been graded by PCGS.