Starting price:
16 000 GBPPrice realized:
28 000 GBP Find similar lots
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George III (1760-1820), silver pattern Crown, 1818, large 'bull-like' head right, PISTRUCCI below truncation, date below, Latin legend and toothed border surrounding, GEORGIUS III D: G: BRITANNIARUM REX F: D:, rev. St. George and dragon right, engraver's centring spot below St. George's thigh, PISTRUCCI in exergue, Order of the Garter motto in French surrounding, .HONI . SOIT. QUI. MAL . Y. PENSE., edge plain, 28.27g (L&S 178 var. (silver); Bull 2037 R5; ESC 234). Some light friction to the highpoints, darkly toned in the recesses, otherwise as struck, a pattern of the highest rarity and of great numismatic significance
Prior to the Great Recoinage of 1816, British coinage had suffered from the effects of arbitrage for over half a century, where silver coins – undervalued in the UK - were sold abroad for a profit, copper coins ceased to be produced, and only the overvalued gold coins were left in widespread domestic circulation. Besides Maundy oddments, Shilling pieces in 1763 and an issue of Shillings and Sixpences in 1787, no silver coinage was produced from 1758 onwards. It was only because of the 1816 Great Recoinage's initiative to make British silver and gold coins worth slightly more in face value than their metal value that from this point onwards, British coinage generally stayed within Britain's borders. This achievement was heralded by an overhaul of both the denominations and designs of the coinage, with the Guinea issue being replaced by Sovereigns and new methods of steam-powered milling being implemented. Numerous patterns and proofs were created both to celebrate the new coins and to propose new designs at this vital time of numismatic artistry. The first Crown-sized coins were produced since 1751, this larger coin denomination giving ample room to showcase an engraver's talent, leading to works of genius such as William Wyon's 'Three Graces' and 'Incorrupta' pattern Crowns of 1817. Meanwhile, Benedetto Pistrucci – who had patronage to engrave the circulating coinage – perfected his own design for the Crown, the first appearance of the 'St. George and the Dragon' reverse in silver.
The current offering is an early pattern for this type, with the reverse similar to the adopted design but with a larger bull-like portrait of the King on the obverse. Being struck with unpolished dies, this coin has a more matt appearance than the final product. Extremely rare in any condition, this coin represents one of the most formative stages in British numismatic history and a truly beautiful piece of the engraver's art.
Provenance:
Ex Spink Numismatic Circular, September 1972, item 8348 - where listed as 'ESC 234 var., struck on a slightly wider flan and with a toothed border. Struck from unpolished dies, giving a matt finish. Unrecorded in ESC or Linecar and Stone. Of the highest rarity. F.D.C.'
Ex Spink Coin Auction 215, 4-5th December 2012, lot 203
(£20,000-£30,000)