Baldwin & Sons
Auction 73 8 May 2012
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THE BENTLEY COLLECTION OF BRITISH MILLED GOLD SOVEREIGNS. George V, Sovereign, 1925, struck in the reign of George VI c.1949-1952, bare head left, B.M. recut on truncation, rev St George slaying dragon with sword, date in exergue, tiny B.P. very distinct to upper right, edge coarser milling with higher rims, 7.98g (Marsh 220; MCE 646; S 3996). Toned, uncirculated
ex Randy Weir Numismatics, Unionville, Ontario, Canada, purchased 23rd April 1993
Calendar year mintages: 1925=3,520,431; 1949=138,000; 1951=318,000; 1952=430,000
Total output dated 1925 = 4,406,431
When collectors started to collect the modern gold Sovereign just after World War II, the 1925 Sovereign was always a challenging coin to find, as its issue was for Bank of England gold reserves only. This, coupled with the Gold Standard Act of 1925 meant that the Treasury banknotes were no longer convertible to gold coin on demand, but the Bank was compelled to sell 400 ounce fine gold bars to any purchaser who asked for it at £3/17/10½d per ounce in legal tender money. This meant each bar would sell for £1560 and there was a demand as in 1929 and again in 1930 the Bank of England had to melt down a total of 91,350,000 Sovereigns from their stock, which no doubt included any 1916 or 1917 Sovereigns left and many other earlier dates or varieties.
The reissue of 1925 dated Sovereigns in the reign of George VI occurred because of a need for more coins in the gold reserve of the Bank of England. George VI dies were perhaps not used as the only issues of Sovereigns for the reign were commemorative patterns with plain edges in 1937 and so had never been authorised for currency, hence the 1925 George V designs were used again. These later coins eventually started to find their way into the hands of collectors and any premium on 1925 dated coins as a great rarity was soon eradicated.
The 1925 Sovereign as we have here has a high rim and recut initials on the truncation. If an original 1925 Sovereign could be found we would expect it to have a less prominent rim and shallower initials.
King George V died 20 January 1936. King Edward VIII ruled from this accession day until abdication, 11 December 1936, having never been crowned.
The coinage of the reign of King George V features a bare head portrait of the King facing to the left by the Australian sculptor, Edgar Bertram Mackennal (12 June 1863 – 10 October 1931), whose initials appear on the truncation of the bust and with the titles GEORGIVS V D: G: BRITT: OMN: REX F: D: IND: IMP: Mackennal was famed for his artistic sculptures, but became more numismatically interesting, as the designer of the Olympic Medals for the London Olympic Games of 1908. This led to the commission for the Coronation Medallion for King George V, and he then successfully won the commission for the coinage and for postage stamp portraits. One other Royal commission was to design the tomb for King Edward VII at St George’s Chapel, Windsor. He was also the first Australian citizen to be knighted, in 1921 and was admitted to the Royal Academy in 1922.
For the Sovereign the classic St George and dragon design continues engraved, after Pistrucci with his initials in the exergue, and amazingly still featuring the tiny WWP under the lance for William Wellesley Pole from his days of the Master-ship of the Mint circa 1820. Had the London Mint continued to produce gold Sovereigns from 1928, like some of the Colonial Mints did, then a smaller portrait of George V would no doubt have appeared as at Melbourne, Perth and Pretoria. More significantly, the reverses of these Colonial small head pieces are revised and the WWP initials disappear at last. Such pieces will be offered for sale in part two in September.
The Reign of King George V (1910-1936)
House of Windsor
Born: 3 June 1865
Accession: 6 May 1910
Married: Mary of Teck, 6 July 1893
Coronation: Thursday, 22 June 1911,
second Coronation as Emperor of India at
the Delhi Durbar, Tuesday, 12 December 1911
Children: five sons, one daughter
Died: 20 January 1936, aged 70
Estimate: £300-350
ex Randy Weir Numismatics, Unionville, Ontario, Canada, purchased 23rd April 1993
Calendar year mintages: 1925=3,520,431; 1949=138,000; 1951=318,000; 1952=430,000
Total output dated 1925 = 4,406,431
When collectors started to collect the modern gold Sovereign just after World War II, the 1925 Sovereign was always a challenging coin to find, as its issue was for Bank of England gold reserves only. This, coupled with the Gold Standard Act of 1925 meant that the Treasury banknotes were no longer convertible to gold coin on demand, but the Bank was compelled to sell 400 ounce fine gold bars to any purchaser who asked for it at £3/17/10½d per ounce in legal tender money. This meant each bar would sell for £1560 and there was a demand as in 1929 and again in 1930 the Bank of England had to melt down a total of 91,350,000 Sovereigns from their stock, which no doubt included any 1916 or 1917 Sovereigns left and many other earlier dates or varieties.
The reissue of 1925 dated Sovereigns in the reign of George VI occurred because of a need for more coins in the gold reserve of the Bank of England. George VI dies were perhaps not used as the only issues of Sovereigns for the reign were commemorative patterns with plain edges in 1937 and so had never been authorised for currency, hence the 1925 George V designs were used again. These later coins eventually started to find their way into the hands of collectors and any premium on 1925 dated coins as a great rarity was soon eradicated.
The 1925 Sovereign as we have here has a high rim and recut initials on the truncation. If an original 1925 Sovereign could be found we would expect it to have a less prominent rim and shallower initials.
King George V died 20 January 1936. King Edward VIII ruled from this accession day until abdication, 11 December 1936, having never been crowned.
The coinage of the reign of King George V features a bare head portrait of the King facing to the left by the Australian sculptor, Edgar Bertram Mackennal (12 June 1863 – 10 October 1931), whose initials appear on the truncation of the bust and with the titles GEORGIVS V D: G: BRITT: OMN: REX F: D: IND: IMP: Mackennal was famed for his artistic sculptures, but became more numismatically interesting, as the designer of the Olympic Medals for the London Olympic Games of 1908. This led to the commission for the Coronation Medallion for King George V, and he then successfully won the commission for the coinage and for postage stamp portraits. One other Royal commission was to design the tomb for King Edward VII at St George’s Chapel, Windsor. He was also the first Australian citizen to be knighted, in 1921 and was admitted to the Royal Academy in 1922.
For the Sovereign the classic St George and dragon design continues engraved, after Pistrucci with his initials in the exergue, and amazingly still featuring the tiny WWP under the lance for William Wellesley Pole from his days of the Master-ship of the Mint circa 1820. Had the London Mint continued to produce gold Sovereigns from 1928, like some of the Colonial Mints did, then a smaller portrait of George V would no doubt have appeared as at Melbourne, Perth and Pretoria. More significantly, the reverses of these Colonial small head pieces are revised and the WWP initials disappear at last. Such pieces will be offered for sale in part two in September.
The Reign of King George V (1910-1936)
House of Windsor
Born: 3 June 1865
Accession: 6 May 1910
Married: Mary of Teck, 6 July 1893
Coronation: Thursday, 22 June 1911,
second Coronation as Emperor of India at
the Delhi Durbar, Tuesday, 12 December 1911
Children: five sons, one daughter
Died: 20 January 1936, aged 70
Estimate: £300-350