Watch List notes:

GREAT BRITAIN. George III, 1760-1820. ½ Guinea 1787. Proof strike. Obv. GEORGIVS III DEI GRATIA. Laureate head right. Rev. M B F ET H REX F D B ET L D S R I A T ET E. Crowned coat of arms. Spink 3735; KM 608; Fr. 12. AU. 4.95 g. NGC PF 61
Struck as a presentation specimen, for the first date of issue of the spade Guinea.