Sovereign Rarities Ltd
Auction 4 21 Sep 2021
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William III (1694-1702), gold Five Guineas, 1701, fine work style with plain sceptres on reverse, laureate head right, abbreviated Latin legend and toothed border surrounding, GVLIELMVS. III. DEI. GRA., rev. crowned cruciform shields, nine strings to Irish harp, plain handle sceptres in angles, variety with no strings to Irish harp sceptre, Lion of Nassau at centre, date either side of top crown, abbreviated Latin legend and toothed border surrounding, .MAG BR.FRA ET.HIB REX, edge inscribed in raised letters and dated, +DECVS. ET. TVTAMEN. ANNO. REGNI. DECIMO. TERTIO+, 41.72g (Schneider 480; EGC 398 R2; MCE 172; S.3456). Perhaps once cleaned with associated surface marks, now toned with some flatness to obverse and flan adjustment marks showing through, scratches below portrait, otherwise very fine / good very fine.
The abbreviated Latin legends translate as "William the third by the grace of God" on the obverse, and "King of Great Britain, France and Ireland" on the reverse; with the Latin on the edge meaning "an ornament and a safeguard in the thirteenth year of the reign."
The gold output was very high in 1701 at £1,190,019 worth of gold coins produced across the four denominations of that year. Sir Isaac Newton was by now the Master Worker of the Mint since 1699, and had applied his mind to the problem of circulating foreign gold coin in the UK which was prevalent at this time. French Louis d'Or and Spanish Pistoles were both circulating in commerce at 17/6d each when compared to a freshly minted Guinea at 21/6d. Newton tested the worn foreign coin and typically found it to be worth 17/1d and emphasised to the Treasury secretary that such coin was merely bullion and not official coin of the realm. A resulting Proclamation of 5th February 1701 brought the value of the foreign coin down to 17 Shillings, with the consequence that many were sent to the Mint for converting to current coin, and some £1,400,000 worth accounted for more or less the whole coinage of 1701 and 1702.
The Samuel King Survey co-written by this cataloguer and published in May 2005 recorded the 1701 fine work Five Guineas as one of the most prolific whilst being highly desirable for the detailed design, with a wholesome rendition of William of Orange. 256 examples of the 1701 piece were recorded in commerce over a 45 year period from 1960-2005, though a breakdown of sceptre variety was not possible.
Provenance:
Purchased from Rodereick Richardson, Spring List 2002, no. 20.
(£20,000-£25,000)
The abbreviated Latin legends translate as "William the third by the grace of God" on the obverse, and "King of Great Britain, France and Ireland" on the reverse; with the Latin on the edge meaning "an ornament and a safeguard in the thirteenth year of the reign."
The gold output was very high in 1701 at £1,190,019 worth of gold coins produced across the four denominations of that year. Sir Isaac Newton was by now the Master Worker of the Mint since 1699, and had applied his mind to the problem of circulating foreign gold coin in the UK which was prevalent at this time. French Louis d'Or and Spanish Pistoles were both circulating in commerce at 17/6d each when compared to a freshly minted Guinea at 21/6d. Newton tested the worn foreign coin and typically found it to be worth 17/1d and emphasised to the Treasury secretary that such coin was merely bullion and not official coin of the realm. A resulting Proclamation of 5th February 1701 brought the value of the foreign coin down to 17 Shillings, with the consequence that many were sent to the Mint for converting to current coin, and some £1,400,000 worth accounted for more or less the whole coinage of 1701 and 1702.
The Samuel King Survey co-written by this cataloguer and published in May 2005 recorded the 1701 fine work Five Guineas as one of the most prolific whilst being highly desirable for the detailed design, with a wholesome rendition of William of Orange. 256 examples of the 1701 piece were recorded in commerce over a 45 year period from 1960-2005, though a breakdown of sceptre variety was not possible.
Provenance:
Purchased from Rodereick Richardson, Spring List 2002, no. 20.
(£20,000-£25,000)