Watch List notes:

British Coins, George III, proof guinea, 1787, laureate bust r., rev. crowned spade-shaped shield, plain edge (S.3728; WR.104 as R3), certified and graded by PCGS as PR65 CAM Terner, a gem example of this type, dies engraved by Pingo and clearly struck in proof state to memorialize the first date of issue of the Spade guinea, the king's portrait heavily frosted against the mirrored field, as are the royal shield and all letters of the legends on both sides, with rich gold colour, clearly an exceptionally fine guinea with a provenance to the now-famous collection of American collector Jacob Y. Terner, M.D.
Estimate: 10000-15000 GBP