Baldwin's of St. James's
Auction 30 20 Mar 2019
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Edward VII, Coronation 1902, gold five-pounds, currency issue, bare head r., by de Saulles, rev. Pistrucci's St. George and dragon (S.3965; KM 807; Fr. 398a), certified and graded by NGC as Mint State 63
By the time of Edward VII's accession, £5 coins were an anomoly and though a massive 35,000 coins were originally struck; all but 8,000 were subsequently melted. The mintage of this piece may well have been meant essentially as a memento for sale to the aristocracy, with whom Edward was most popular. Evidently, however, the mint overestimated the need for these coins and, as Challis tells us, 'gold coin was said to have largely disappeared from active circulation in London by June 1915' (A New History of the Royal Mint, page 557). As a result, the 1902 £5 coin is a rarity today, especially when certified in a high grade as with this example.
(2750-3250 GBP)
By the time of Edward VII's accession, £5 coins were an anomoly and though a massive 35,000 coins were originally struck; all but 8,000 were subsequently melted. The mintage of this piece may well have been meant essentially as a memento for sale to the aristocracy, with whom Edward was most popular. Evidently, however, the mint overestimated the need for these coins and, as Challis tells us, 'gold coin was said to have largely disappeared from active circulation in London by June 1915' (A New History of the Royal Mint, page 557). As a result, the 1902 £5 coin is a rarity today, especially when certified in a high grade as with this example.
(2750-3250 GBP)