Heritage World Coin Auctions
NYINC Signature Sale 3061 7-8 Jan 2018
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Scotland
William II (III of England) gold Pistole or 12 Pounds Piece 1701 XF40 NGC, Edinburgh mint, KM146, S-5676, Fr-60, Burns-1 (fig. 1078), SCBI 35, 1731-2. Struck using gold dust imported by the Darien Company from South Africa. Featuring the badge of the Darien Company--a rising sun over a shoreline--below the bust of William, this enchanting issue exhibits a reddish tone and hues of burgundy, along with a pleasing hint of underlying luster. There are a few scattered marks and some light, even wear, but wholly consistent with the fairly conservative grade assigned. Additionally, one will notice the slightest degree of off-center striking, but this is entirely consistent with the type which tends to be plagued by this issue. Not at all encountered regularly, there have only been about half a dozen examples to come to auction over the past 15 years or so, and the present piece is, in the opinion of this cataloger, likely the nicest of the group--far superior than the Adams/Garrett example, the most recent to sell at a hammer of $18,000 in 2015.
The Darien Company, also referred to as the Company of Scotland, promoted a venture into the area of what is now Panama to establish a Scottish colony which could capitalize on transoceanic trade, utilizing the narrow strip of land as a route linking the Atlantic with the Pacific. Numerous setbacks and failures caused the plan, known as the Darien scheme, to become a complete disaster, with the Scots ultimately abandoning their plans in early 1700. As the company had been financed by the kingdom and supported with anywhere between 25-50% of the Scottish money then in use, its downfall caused massive economic problems for the populace and served as an important factor in the weakened position of Scotland and their ultimate merging with England through the Acts of Union in 1707.
Ex. Douglas Collection (Spink 119, 3/1997 - Lot 327)
From the Penn Collection
HID02901242017
Estimate: 15000-20000 USD
William II (III of England) gold Pistole or 12 Pounds Piece 1701 XF40 NGC, Edinburgh mint, KM146, S-5676, Fr-60, Burns-1 (fig. 1078), SCBI 35, 1731-2. Struck using gold dust imported by the Darien Company from South Africa. Featuring the badge of the Darien Company--a rising sun over a shoreline--below the bust of William, this enchanting issue exhibits a reddish tone and hues of burgundy, along with a pleasing hint of underlying luster. There are a few scattered marks and some light, even wear, but wholly consistent with the fairly conservative grade assigned. Additionally, one will notice the slightest degree of off-center striking, but this is entirely consistent with the type which tends to be plagued by this issue. Not at all encountered regularly, there have only been about half a dozen examples to come to auction over the past 15 years or so, and the present piece is, in the opinion of this cataloger, likely the nicest of the group--far superior than the Adams/Garrett example, the most recent to sell at a hammer of $18,000 in 2015.
The Darien Company, also referred to as the Company of Scotland, promoted a venture into the area of what is now Panama to establish a Scottish colony which could capitalize on transoceanic trade, utilizing the narrow strip of land as a route linking the Atlantic with the Pacific. Numerous setbacks and failures caused the plan, known as the Darien scheme, to become a complete disaster, with the Scots ultimately abandoning their plans in early 1700. As the company had been financed by the kingdom and supported with anywhere between 25-50% of the Scottish money then in use, its downfall caused massive economic problems for the populace and served as an important factor in the weakened position of Scotland and their ultimate merging with England through the Acts of Union in 1707.
Ex. Douglas Collection (Spink 119, 3/1997 - Lot 327)
From the Penn Collection
HID02901242017
Estimate: 15000-20000 USD