MS63 | George II (1727-60), gold Five Guineas, 1729 E.I.C. initials of the East India Company below young laureate head left, GEORGIVS.II. DEI.GRATIA, rev. crowned quartered shield of arms, date either side of crown, M.B.FE. ET. H. REX. F.D. B.ET. L. D. S. R. I. A. T ET. E., edge inscribed in raised letter and dated, +DECVS. ET. TVTAMEN ANNO. REGNI. TERTIO, inverted N's in ANNO, 41.89g (Schneider 556; Schneider dies 2/2; EGC 553; MCE 279; S.3664). Some light surface marks and flecking, with a pleasing red copper overtone, graded by NGC as MS63, this coin is the joint finest graded at both NGC, none graded so fine at PCGS.

NGC Certification 6031694-005.

The Latin legends translate to on obverse "George the Second by the Grace of God" continuing on the reverse in abbreviated Latin which if in shown in full reads "Magnae Britanniae Franciae Et Hiberniae Rex Fidei Defensor Brun Et Lunebergen-sis Dux, Sacri Romani Imperii Archi-Thesaurius Et Elector" and translates as "King of Great Britain, France and Ireland, Defender of the Faith, Duke of Brunswick and Luneberg, High Treasurer and Elector of the Holy Roman Empire." Additionally on the edge "An ornament and a safe guard in the third year of the reign."

The East India Company provided quantities of gold bullion from their trading activities to the Royal Mint to strike coinage with their provenance mark "E.I.C." at various times in the reign of King George II, probably as they were also responsible for taking great quantities of silver out of the country for export. However the Mint's official output figures show no gold produced in the calendar year of 1729 and Woodhead notes in the output tables in Schneider that the EIC gold coinage was not included the official figures until 1731 when the gold output was £305,768 which is on the smaller side of gold outputs for the reign. Nevertheless, the "Samuel King" Survey co-authored by this cataloguer published in May 2005 showed that 189 examples of these coins were traded in a 45 year period on the British coin market 1960-2005, the most prolific of this reign. Perhaps this is because more of the EIC type Five Guineas were saved from circulation especially if the company originally gave such coins out to backers and favoured persons as gifts to cherish rather than use and spend. There is a record of Queen Caroline for instance receiving East India Company gold. The new East India Company headquarters opened in Leadenhall Street London in this year. 1729 is the only year a Five Guineas is marked E.I.C. which is the first year of EIC gold, and there was also a Guinea and Half-Guinea so marked this year. The E.I.C. marked coinage continues for only a ten-year period of dating and only for five dates in the period, 1729, 1730, 1731, 1732 and finally 1739. For 1730 there seems only to be an issue of Half-Guineas, the other later years are Guinea and Half Guinea only. All are rare to extremely rare to find today.

Provenance:
Ex Spink Numismatic Circular, June 2004, item MG1235.

(£50,000-£60,000)