Watch List notes:

SCOTLAND. Pistole (12 Pounds), 1701. Edinburgh Mint; mm: rising sun. William II. NGC EF-45.
S-5676; Fr-60; Burns-1 (fig. 1078). Weight: 6.88 gms. This is a truly historic treasure that is EXTREMELY RARE in any grade. The surfaces exhibit warm yellow-gold tone with scattered dark patina in the protected areas. Somewhat weak at the upper borders though the focal elements remain bold. The fields are overall smooth and intensely lustrous, with faint prooflike qualities on the obverse. A minor mark is noted at the portrait's cheek and a natural flan flaw punctuates the reverse at 6 o'clock.

The pistoles and half pistoles of William II were struck using gold dust imported by the Scottish Darien Company, more formally known as the Company of Scotland Trading to Africa and the Indies. Created in 1695 by an act of the Scottish Parliament, the Darien Company was a federally backed venture aimed at establishing a colony on the Isthmus of Panama to be a hub for international trade. Unfortunately, the project was ultimately a failure and depleted approximately one quarter of Scotland's liquid assets. Coins from this issue feature the company badge of a rising sun just below the obverse portrait, alluding to an optimism that was ultimately misguided. The gold pistoles resulting from this venture remain incredibly rare, with only seven distinct specimens sold publicly in the past two decades. Among these few survivors, the present example is surely one of the finest, superior to both the Adams-Garrett coin (Very Fine) and the Douglas specimen (NGC EF-40). An absolutely monumental offering in the field of Scottish gold.

From the Loch Ness Collection.

Ex: David McDonald Collection (Dix Noonan Webb - 10/2004) Lot # 762.

Ex: Bt G.A. Singer.

Estimate: $25000 - $35000