British Coins
not including Colonial America
See also : Coin Gold coins World coins 20th century coins Canada British Royals
Chronology : 1920
See also : Coin Gold coins World coins 20th century coins Canada British Royals
Chronology : 1920
293-296 The Coinage of the Usurpers
2019 SOLD for £ 550K including premium
The usurpers of the Roman empire can rely on frontier nations that feel neglected by the central power. These rebels must maintain a military force and they only survive if they know how to pay their troops. The coins issued by Brutus after the murder of Caesar are appreciated by numismatists.
After the Severan dynasty, the imperial territory becomes increasingly unmanageable. Postumus reigns in a very extended Gaul. His coins in gold, silver and bronze are of better quality than the Roman coins but he is assassinated by his own soldiers in 268 CE. On his coins, his portrait is very finely engraved.
In 286 CE Carausius directs a Roman fleet in the Channel. Accused by the central power of conspiracy with the pirates whom he should have fought, he secedes. Carausius takes a great care to the quality of his coinage and to the propaganda formulas that proclaim his loyalty to the traditional values of the empire.
There was no chronicler in that dark period, and we know almost nothing of his successor Allectus. He would have been the treasurer of Carausius, whom he would have murdered in 293 after military defeats. He was killed during the re-conquest of Britannia by the Romans in 296. The currency of Allectus continues that of Carausius. His main mint is at Londinium.
Found in March 2019 in Kent by a metal detector near an ancient Roman road, an aureus of Allectus is estimated £ 70K for sale by Dix Noonan Webb in London on June 6, lot 1403. It is marked ML meaning that it was done in London.
Prohibited after his fall, the coins of Allectus have very little circulated. This aureus is in very good condition, with a stunning strike. The portrait shows a man with abundant hair and beard, matching the same fashion as Postumus. The reverse shows an allegory of the sun god surrounded by two slaves, with the formula Oriens Aug which means that the sun rose for this emperor.
After the Severan dynasty, the imperial territory becomes increasingly unmanageable. Postumus reigns in a very extended Gaul. His coins in gold, silver and bronze are of better quality than the Roman coins but he is assassinated by his own soldiers in 268 CE. On his coins, his portrait is very finely engraved.
In 286 CE Carausius directs a Roman fleet in the Channel. Accused by the central power of conspiracy with the pirates whom he should have fought, he secedes. Carausius takes a great care to the quality of his coinage and to the propaganda formulas that proclaim his loyalty to the traditional values of the empire.
There was no chronicler in that dark period, and we know almost nothing of his successor Allectus. He would have been the treasurer of Carausius, whom he would have murdered in 293 after military defeats. He was killed during the re-conquest of Britannia by the Romans in 296. The currency of Allectus continues that of Carausius. His main mint is at Londinium.
Found in March 2019 in Kent by a metal detector near an ancient Roman road, an aureus of Allectus is estimated £ 70K for sale by Dix Noonan Webb in London on June 6, lot 1403. It is marked ML meaning that it was done in London.
Prohibited after his fall, the coins of Allectus have very little circulated. This aureus is in very good condition, with a stunning strike. The portrait shows a man with abundant hair and beard, matching the same fashion as Postumus. The reverse shows an allegory of the sun god surrounded by two slaves, with the formula Oriens Aug which means that the sun rose for this emperor.
https://t.co/Gt2gwsoIsc #detectorists #treasure #romancoin #history
— Dix Noonan Webb (@DixNoonanWebb) April 8, 2019
1663 Petition against Coin Clipping
2018 SOLD for $ 550K before fees
Gold and silver coins become finer from the mid-16th century. The sharpness of the line and the regularity of the stroke are not for an aesthetic purpose. It is about fighting counterfeiting and clipping, a usual criminal practice of tearing metal in the circumference of the coins.
To replace hammering, the use of the mechanical press is tempting. For a long time its profitability is doubtful and the workers fearing for their employment oppose it with violence.
At the fall of King Charles I, an engineer from the Paris Mint named Pierre Blondeau is invited to install his machines at the Tower of London. Assisted by the English medalist Thomas Simon, he realizes a superb silver coin with the figure of Oliver Cromwell.
When the Stuart dynasty was restored in 1660, the problem of currency control remained crucial. In 1661 King Charles II decreed that the use of the screw press is mandatory for all his gold and silver coins. Blondeau returns to England. To compare between his competing Mint engravers Simon and the Roettier brothers, the king asks for silver pattern coins. In 1662 he chose Roettier.
Simon does not accept his defeat against a foreign engraver. The king's political preference for Roettier was obvious, but it must also be admitted that Simon's splendid relief was difficult to industrialize.
Meanwhile Blondeau develops a decisive invention that will finally end the clipping : the machine that hits the coin onto its circumference. In a vain hope that the king changes his decision, Simon realizes in 1663 two sets of the silver crown worth 5 shillings, with a text of supplication readably printed within the small width to demonstrate his know-how. These variants are identified by numismatists from the first word on the edge : Petition and Reddite. The Reddite's edge also includes the tiny figure of a sun rising from behind a cloud.
These pattern coins are extremely rare. One of them considered as the finest surviving Reddite was sold for £ 396K including premium by Spink on March 27, 2014. On January 10 in New York, Goldberg sells two Simon coins. Lot 1103 is a Petition graded SP 53 by PCGS, estimated $ 550K. It is illustrated in the post shared by DailyMail. Lot 1104 is a Reddite graded SP 35 by PCGS, estimated $ 95K.
RESULTS
Petition SP 53 SOLD for $ 550K before fees
Reddite SP 35 Unsold
To replace hammering, the use of the mechanical press is tempting. For a long time its profitability is doubtful and the workers fearing for their employment oppose it with violence.
At the fall of King Charles I, an engineer from the Paris Mint named Pierre Blondeau is invited to install his machines at the Tower of London. Assisted by the English medalist Thomas Simon, he realizes a superb silver coin with the figure of Oliver Cromwell.
When the Stuart dynasty was restored in 1660, the problem of currency control remained crucial. In 1661 King Charles II decreed that the use of the screw press is mandatory for all his gold and silver coins. Blondeau returns to England. To compare between his competing Mint engravers Simon and the Roettier brothers, the king asks for silver pattern coins. In 1662 he chose Roettier.
Simon does not accept his defeat against a foreign engraver. The king's political preference for Roettier was obvious, but it must also be admitted that Simon's splendid relief was difficult to industrialize.
Meanwhile Blondeau develops a decisive invention that will finally end the clipping : the machine that hits the coin onto its circumference. In a vain hope that the king changes his decision, Simon realizes in 1663 two sets of the silver crown worth 5 shillings, with a text of supplication readably printed within the small width to demonstrate his know-how. These variants are identified by numismatists from the first word on the edge : Petition and Reddite. The Reddite's edge also includes the tiny figure of a sun rising from behind a cloud.
These pattern coins are extremely rare. One of them considered as the finest surviving Reddite was sold for £ 396K including premium by Spink on March 27, 2014. On January 10 in New York, Goldberg sells two Simon coins. Lot 1103 is a Petition graded SP 53 by PCGS, estimated $ 550K. It is illustrated in the post shared by DailyMail. Lot 1104 is a Reddite graded SP 35 by PCGS, estimated $ 95K.
RESULTS
Petition SP 53 SOLD for $ 550K before fees
Reddite SP 35 Unsold
Rare coin designed for King Charles II could sell for £400,000 https://t.co/tzSDuS2G10 via @MailOnline
— CoinsBlog (@CoinsBlog) January 4, 2018
1663 Patterns for the Crown
2014 SOLD 396 K£ including premium
Ancient coins were hammered. The use of machines was developed from the mid-sixteenth century, initially without real success because they did not yet improve the production time.
Named "milled coins", the machined pieces had however the advantage of providing a better regularity. An appropriate mechanism for pressing the metal on its outline also enabled to engrave the rim.
In power since the Restoration of 1660, Charles II wants to modernize the coinage and asks his medalists to realize prototypes of milled coins. John Roettier is the only one to respond and the king accepts his project.
In 1663, his competitor Thomas Simon is deeply upset to have been overcome. On the format of the crown worth five shillings, Simon strikes a small series of silver coins and also some specimens in pewter, bearing his name.
Simon's Crowns have a single basic pattern : on one side the portrait of the King in high relief, and on the reverse the Garter surrounded by four shields. They are splitted into two variants by the inscription of the edge, whose sharpness is a real technological feat for that time.
The Petition crown includes an English text of 200 letters in two lines. A great unit was sold for £ 207K including premium by Spink on September 27, 2007.
The other variant is named Reddite crown after the first word of its Latin text. The inscription on one line is shorter but the designer has added a drawing showing the rise of the sun over the storm, supposed to please the king as a symbol of the come back of the Stuarts.
The best known example of Reddite silver crown is estimated £ 100K, for sale by Spink in London on March 27. Here is the link to the press release.
Simon's work was exhibited to the king but did not change the decision. The rivalry between the two engravers was stopped by the untimely death of Simon in 1665, a year of plague in London.
POST SALE COMMENT
This remarkable coin deserved a great price : £ 396K including premium.
Named "milled coins", the machined pieces had however the advantage of providing a better regularity. An appropriate mechanism for pressing the metal on its outline also enabled to engrave the rim.
In power since the Restoration of 1660, Charles II wants to modernize the coinage and asks his medalists to realize prototypes of milled coins. John Roettier is the only one to respond and the king accepts his project.
In 1663, his competitor Thomas Simon is deeply upset to have been overcome. On the format of the crown worth five shillings, Simon strikes a small series of silver coins and also some specimens in pewter, bearing his name.
Simon's Crowns have a single basic pattern : on one side the portrait of the King in high relief, and on the reverse the Garter surrounded by four shields. They are splitted into two variants by the inscription of the edge, whose sharpness is a real technological feat for that time.
The Petition crown includes an English text of 200 letters in two lines. A great unit was sold for £ 207K including premium by Spink on September 27, 2007.
The other variant is named Reddite crown after the first word of its Latin text. The inscription on one line is shorter but the designer has added a drawing showing the rise of the sun over the storm, supposed to please the king as a symbol of the come back of the Stuarts.
The best known example of Reddite silver crown is estimated £ 100K, for sale by Spink in London on March 27. Here is the link to the press release.
Simon's work was exhibited to the king but did not change the decision. The rivalry between the two engravers was stopped by the untimely death of Simon in 1665, a year of plague in London.
POST SALE COMMENT
This remarkable coin deserved a great price : £ 396K including premium.
1703 The Treasure of the Flota de Indias
2016 SOLD for £ 275K before fees
America's wealth is exploited by the colonial power. From 1566 the regular convoys of ships of the Flota de Indias transfer to Spain a wide variety of exotic products. Pirates are around the corner.
When war comes, these operations become even more hazardous. In 1702 an Anglo-Dutch fleet rushes to the bay of Vigo in Galicia where sailors are beginning to unload the boats. From a naval point of view the Anglo-Dutch victory was complete, but the bloody battle left many casualties on both sides.
The winners came a little too late: a part of the treasure was already in a safe place. However they manage to seize a significant weight of silver and a small weight of gold. The claim of King Philip V remains of course ignored by the English who transform the metals in coins.
Gold is very rare in England and depends on such opportunities. The coin of 5 guineas issued in 1703 is the highest denomination in the Vigo variety. It was produced in a very limited quantity. It shows the bust of Queen Anne accompanied by the word Vigo.
At that time the coins are milled, which leads to variations even for small quantities. For this operation, a difference between the two variants is the distance between the shoulder of the Queen and the inscription Vigo.
On February 9 in London, St. James's sells an example of the rarer variety. It is in remarkable condition for a coin of that time, graded AU55 (Almost Uncirculated) by PCGS with a sharp strike and a beautiful gold color. It is estimated £ 300K, lot 73. Here is the link to the website of the auction house.
When war comes, these operations become even more hazardous. In 1702 an Anglo-Dutch fleet rushes to the bay of Vigo in Galicia where sailors are beginning to unload the boats. From a naval point of view the Anglo-Dutch victory was complete, but the bloody battle left many casualties on both sides.
The winners came a little too late: a part of the treasure was already in a safe place. However they manage to seize a significant weight of silver and a small weight of gold. The claim of King Philip V remains of course ignored by the English who transform the metals in coins.
Gold is very rare in England and depends on such opportunities. The coin of 5 guineas issued in 1703 is the highest denomination in the Vigo variety. It was produced in a very limited quantity. It shows the bust of Queen Anne accompanied by the word Vigo.
At that time the coins are milled, which leads to variations even for small quantities. For this operation, a difference between the two variants is the distance between the shoulder of the Queen and the inscription Vigo.
On February 9 in London, St. James's sells an example of the rarer variety. It is in remarkable condition for a coin of that time, graded AU55 (Almost Uncirculated) by PCGS with a sharp strike and a beautiful gold color. It is estimated £ 300K, lot 73. Here is the link to the website of the auction house.
1703 Vigo Bay gold shipwreck coin rarity expected to bring six-figure amount in auction: https://t.co/gy1G53Rvys pic.twitter.com/pwDXHNuuBo
— Coin World (@CoinWorld) January 13, 2016
1839 Victoria and the Lion
2017 SOLD for $ 376K including premium
William Wyon is since 1828 the chief engraver at the Royal Mint. In 1834 he realized a portrait of the presumptive heiress of the British throne, Princess Alexandrina Victoria aged 15 years.
In June 1837, the still unmarried young woman became Queen Victoria. Wyon realizes the portrait with the young head that is used on the British coins from 1838 and on the postage stamps from their first emission in 1840. The very broad dissemination of this figure contributes to bring back an undeniable sympathy of the public tired with the scandals of the previous generations of the Royals.
The £ 5 gold coin of 1839 is Wyon's masterpiece. The obverse has the young head, inscribed 'Victoria DG (for Deo Gratias) Britanniarum Regina FD (for Fidei Defensor)'. The reverse stages Una and the Lion with Victoria in the role of Una and the inscription 'Dirige Deus Gressus Meos' (May the Lord direct my steps).
Una is the allegory of the True Church in a 1590 poem by Spenser. The re-use of this figure by Wyon to symbolize the hope of a healthy and strong redirection of the British monarchy will remain highly popular in England throughout Victoria's reign.
At that time the practice is already taken to use the first striken coins of a new monetary edition for presentation and for selling to numismatists. On January 13 in New York, Stack's Bowers sells as lot 2477 a complete set of the fifteen coins issued by the Royal Mint in 1839, from farthing to sovereign, in proof condition.
It is evident that this collection was gathered from the origin and has never been separated. The coins have a matching patina suggesting that they have been stored for a long time in the same box and they were inspected at the same time by NGC which graded them from Proof-63 to Proof-66. The £ 5 Victoria-Una is a magnificent Proof-63 Ultra Cameo piece. The lot is estimated in excess of $ 200K.
In June 1837, the still unmarried young woman became Queen Victoria. Wyon realizes the portrait with the young head that is used on the British coins from 1838 and on the postage stamps from their first emission in 1840. The very broad dissemination of this figure contributes to bring back an undeniable sympathy of the public tired with the scandals of the previous generations of the Royals.
The £ 5 gold coin of 1839 is Wyon's masterpiece. The obverse has the young head, inscribed 'Victoria DG (for Deo Gratias) Britanniarum Regina FD (for Fidei Defensor)'. The reverse stages Una and the Lion with Victoria in the role of Una and the inscription 'Dirige Deus Gressus Meos' (May the Lord direct my steps).
Una is the allegory of the True Church in a 1590 poem by Spenser. The re-use of this figure by Wyon to symbolize the hope of a healthy and strong redirection of the British monarchy will remain highly popular in England throughout Victoria's reign.
At that time the practice is already taken to use the first striken coins of a new monetary edition for presentation and for selling to numismatists. On January 13 in New York, Stack's Bowers sells as lot 2477 a complete set of the fifteen coins issued by the Royal Mint in 1839, from farthing to sovereign, in proof condition.
It is evident that this collection was gathered from the origin and has never been separated. The coins have a matching patina suggesting that they have been stored for a long time in the same box and they were inspected at the same time by NGC which graded them from Proof-63 to Proof-66. The £ 5 Victoria-Una is a magnificent Proof-63 Ultra Cameo piece. The lot is estimated in excess of $ 200K.
Outstanding results for Lot 2477, the Iconic “Una and the Lion” Proof Set https://t.co/waIXVPbLlS pic.twitter.com/SwkAna6Bta
— Stack's Bowers (@StacksBowers) January 23, 2017
Why is this #coin known as the Una & the Lion issue? Find out here. https://t.co/A82e7Dem2g pic.twitter.com/7ZbJWFUtp1
— Paul Fraser (@PFCollectibles) January 10, 2017
1911 George V by the Grace of God
2003 SOLD for $ 690K including premium by Heritage
2019 SOLD for $ 550K including premium
PRE 2019 SALE DISCUSSION
Until 1907 Canadian coins were minted in Birmingham. This activity is refocused in Ottawa in 1908. The highest denomination, which was 50 cents since 1870, becomes 1 dollar by the Canadian Currency Act of 1910.
King Edward VII died in May 1910. The first Canadian silver dollars will be for 1911 with the identification and portrait of his successor George V. The tools and dies are prepared in London. The Royal Mint also makes a very small undocumented number of specimens. A demonstration coin in lead and two silver coins have survived.
The introduction of this new denomination does not really interest the Canadians. The first and fully different circulated silver dollar will be a commemorative issue in 1935. The promotional lead coin was discovered in 1977 in the premises of the Department of Finance. It was untouched in its original parcel.
The earliest known 1911 silver dollar was found by a dealer in 1960, possibly from the family of a previous Mint Master in London. Graded SP 65 by PCGS, it was sold for $ 690K including premium by Heritage on January 13, 2003. Now certified SP 64, also by PCGS, it is estimated $ 500K for sale by Heritage in Chicago on August 15, lot 31339.
The specimen for sale is the only one in private hands. The other silver dollar had been identified later by the same clever merchant in the collections of the Royal Mint Museum in London. It has been transferred for a permanent loan at the National Currency Collection in Ottawa.
The other Canadian denominations of 1911 display a curiosity : the qualification Dei Gra for Dei Gratia of the title of the king is voluntarily omitted. The dollars are the only pieces that escaped this initiative, since they had been prepared in London for the technological transfer. This eviction of God does not please the public : Dei Gra will come back in the following year on the Canadian coinage.
Until 1907 Canadian coins were minted in Birmingham. This activity is refocused in Ottawa in 1908. The highest denomination, which was 50 cents since 1870, becomes 1 dollar by the Canadian Currency Act of 1910.
King Edward VII died in May 1910. The first Canadian silver dollars will be for 1911 with the identification and portrait of his successor George V. The tools and dies are prepared in London. The Royal Mint also makes a very small undocumented number of specimens. A demonstration coin in lead and two silver coins have survived.
The introduction of this new denomination does not really interest the Canadians. The first and fully different circulated silver dollar will be a commemorative issue in 1935. The promotional lead coin was discovered in 1977 in the premises of the Department of Finance. It was untouched in its original parcel.
The earliest known 1911 silver dollar was found by a dealer in 1960, possibly from the family of a previous Mint Master in London. Graded SP 65 by PCGS, it was sold for $ 690K including premium by Heritage on January 13, 2003. Now certified SP 64, also by PCGS, it is estimated $ 500K for sale by Heritage in Chicago on August 15, lot 31339.
The specimen for sale is the only one in private hands. The other silver dollar had been identified later by the same clever merchant in the collections of the Royal Mint Museum in London. It has been transferred for a permanent loan at the National Currency Collection in Ottawa.
The other Canadian denominations of 1911 display a curiosity : the qualification Dei Gra for Dei Gratia of the title of the king is voluntarily omitted. The dollars are the only pieces that escaped this initiative, since they had been prepared in London for the technological transfer. This eviction of God does not please the public : Dei Gra will come back in the following year on the Canadian coinage.
1920 The Sovereigns of the British Empire
2012 SOLD 780 K£ including premium
In 1816, in an act of normalization, the gold coin worth one pound sterling became known as the sovereign. Its characteristics have not changed since that time: 7.988 g, 22 mm diameter, 1.5 mm thick.
The British Empire extended over all regions of the world. It was logical that Australia, a major producer of gold, minted also these coins as soon as security enabled it. Coins made in Sydney, identified by the letter S, were issued from 1855 to 1926, for a total of 115 variants when separating the years.
For many decades, American collectors have built complete thematic series of their currencies composed of the best possible specimens. In other countries, this approach is still unfrequent. The sale by Baldwin's in three parts of the Bentley collection of British sovereigns shall be used as a reference.
The first sale, on 8 May 2012, included all variants made in London, with the exception of the 1819 sovereign which will be the top lot of the third sale in May 2013.
The second sale, on September 27 in London, is devoted to colonial issues.
The 1920-S sovereign is an exceptional piece. The extreme rarity of this variant is not correlated with the statistics of the plant, but it is likely that almost all coins minted in Sydney in 1920 remained mintmarked from the previous year.
This coin was purchased for Aus $ 580K including premium by its current owner in 2006 in an auction organized by KJC Coins. It is now estimated £ 300K. Both sides are shown on the article shared by Blouin Artinfo.
POST SALE COMMENT
The result is both excellent and very satisfying, because usually the high end of the modern coin market is dominated by U.S. dollars. The Australian sovereign was sold £ 780K, according to a tweet of the auction house.
The £ 780K figure includes the fees.
LATER INFORMATION
It has been found in 2014 that the few 1920-S sovereigns struck in 1920 were made on a special order for an NSW politician celebrating his gold wedding anniversary. The sovereign was expensive at that time in terms of gold content and no 1920 sovereign had been required by the officials to the Sydney mint. A 1920-S sovereign novodel made in 1926 after cleaning the reverse die is also known. This story is narrated by Sterling & Currency.
The British Empire extended over all regions of the world. It was logical that Australia, a major producer of gold, minted also these coins as soon as security enabled it. Coins made in Sydney, identified by the letter S, were issued from 1855 to 1926, for a total of 115 variants when separating the years.
For many decades, American collectors have built complete thematic series of their currencies composed of the best possible specimens. In other countries, this approach is still unfrequent. The sale by Baldwin's in three parts of the Bentley collection of British sovereigns shall be used as a reference.
The first sale, on 8 May 2012, included all variants made in London, with the exception of the 1819 sovereign which will be the top lot of the third sale in May 2013.
The second sale, on September 27 in London, is devoted to colonial issues.
The 1920-S sovereign is an exceptional piece. The extreme rarity of this variant is not correlated with the statistics of the plant, but it is likely that almost all coins minted in Sydney in 1920 remained mintmarked from the previous year.
This coin was purchased for Aus $ 580K including premium by its current owner in 2006 in an auction organized by KJC Coins. It is now estimated £ 300K. Both sides are shown on the article shared by Blouin Artinfo.
POST SALE COMMENT
The result is both excellent and very satisfying, because usually the high end of the modern coin market is dominated by U.S. dollars. The Australian sovereign was sold £ 780K, according to a tweet of the auction house.
The £ 780K figure includes the fees.
LATER INFORMATION
It has been found in 2014 that the few 1920-S sovereigns struck in 1920 were made on a special order for an NSW politician celebrating his gold wedding anniversary. The sovereign was expensive at that time in terms of gold content and no 1920 sovereign had been required by the officials to the Sydney mint. A 1920-S sovereign novodel made in 1926 after cleaning the reverse die is also known. This story is narrated by Sterling & Currency.
1936 The Gold Sovereign of Edward VIII
2014 SOLD 520 K£ including premium
King George V died in January 1936. In December his son and successor Edward VIII abdicated. His coronation had been planned for the following year, but the new king had already the time to shake some traditions of the monarchy.
This too rapid succession of events generated two of the rarest coin issues of the last century. One of these, marked 1937, was made in 1936. The other one, marked 1936, was made in 1937.
The British mint is active to prepare the image of the young king. He breaks a centuries old custom by choosing a portrait with his face turned in the same direction as that of his predecessor.
When he abdicates, the dies had been ready. They display the date 1937 because they were intended for release in time for the coronation. They are destroyed to prepare the coinage of his brother George VI.
In the twentieth century, they took great care that the coins of first strike be set aside as a special issue for prestige. The very first gold sovereigns of Edward VIII had already been produced. They were not destroyed but they were so rare that the Duke of Windsor himself had no opportunity to acquire one.
The only gold sovereign of Edward VIII available on the market is estimated £ 250K, for sale by Baldwin's in London on May 8. It is illustrated on the release shared by AuctionPublicity.
The other rarity generated by this tumultuous reign is a Canadian coin. In 1937, the Canadian mint needs a decision for its 1 cent coin. It unearths the sick head of George V, but with the date 1936 which remains politically correct with respect to the end of his reign.
One of the three surviving units of the 1 cent coin minted in 1937 was discussed previously in this column. It was sold for $ 400K including premium by Heritage on 3 January 2010.
POST SALE COMMENT
This highly rare coin was sold for £ 430K before fees.
This too rapid succession of events generated two of the rarest coin issues of the last century. One of these, marked 1937, was made in 1936. The other one, marked 1936, was made in 1937.
The British mint is active to prepare the image of the young king. He breaks a centuries old custom by choosing a portrait with his face turned in the same direction as that of his predecessor.
When he abdicates, the dies had been ready. They display the date 1937 because they were intended for release in time for the coronation. They are destroyed to prepare the coinage of his brother George VI.
In the twentieth century, they took great care that the coins of first strike be set aside as a special issue for prestige. The very first gold sovereigns of Edward VIII had already been produced. They were not destroyed but they were so rare that the Duke of Windsor himself had no opportunity to acquire one.
The only gold sovereign of Edward VIII available on the market is estimated £ 250K, for sale by Baldwin's in London on May 8. It is illustrated on the release shared by AuctionPublicity.
The other rarity generated by this tumultuous reign is a Canadian coin. In 1937, the Canadian mint needs a decision for its 1 cent coin. It unearths the sick head of George V, but with the date 1936 which remains politically correct with respect to the end of his reign.
One of the three surviving units of the 1 cent coin minted in 1937 was discussed previously in this column. It was sold for $ 400K including premium by Heritage on 3 January 2010.
POST SALE COMMENT
This highly rare coin was sold for £ 430K before fees.
1937 A Dot for the Late King
2010 SOLD 400 K$ including premium
2019 SOLD for $ 310K including premium
PRE 2019 SALE DISCUSSION
The abdication of Edward VIII on December 11, 1936 comes at the worst time for the monetary calendar : the British Royal Mint had already begun preparing the 1937 dies with his effigy.
At that time a shortage happens on three Canadian coins. For these 1 cent, 10 cents and 25 cents, it is indeed impossible to display the name and portrait of the resigning king, and the availability of dies identifying his successor is not yet scheduled.
For these three denominations, the Royal Canadian Mint prepares the first dies for the 1937 production by reusing the 1936 design with the name and effigy of the late King George V. The date of 1936 is also reused : the mark of 1937 cannot be suitable for this king who died in January 1936. The new coin is only differentiated from the real 1936 coin by a tiny dot below the date.
The Canadian plant produces a very small number of specimens of the three dotted coins and of the three unmodified denominations, 5 cents, 50 cents and 1 dollar. A small production for urgent circulation is released for the dot 25. The dot cent and the dot 10 will not be issued.
An employee of the Royal Canadian Mint had kept a complete set of the six specimens. Acquired together in 1954 by a collector, they were sold separately by Heritage in January 2003.
This group included the best of the three known George V dot cent 1936 coins. Certified Specimen 66 Red by PCGS, it was sold for $ 400K including premium by Heritage on January 3, 2010. I discussed it in this column before that sale. Please watch the video shared by the auction house.
This specimen still had a layer of protective lacquer put by the factory to improve its short term preservation. Slight discolorations were reported in 2010. This coating has been removed and the coin is now graded SP 65 Red and Brown, also by PCGS. It is estimated $ 250K for sale by Heritage in Chicago on August 15, lot 31048.
RESULTS including premium :
1 cent : SOLD for $ 310K
10 cents : SOLD for $ 66K
The abdication of Edward VIII on December 11, 1936 comes at the worst time for the monetary calendar : the British Royal Mint had already begun preparing the 1937 dies with his effigy.
At that time a shortage happens on three Canadian coins. For these 1 cent, 10 cents and 25 cents, it is indeed impossible to display the name and portrait of the resigning king, and the availability of dies identifying his successor is not yet scheduled.
For these three denominations, the Royal Canadian Mint prepares the first dies for the 1937 production by reusing the 1936 design with the name and effigy of the late King George V. The date of 1936 is also reused : the mark of 1937 cannot be suitable for this king who died in January 1936. The new coin is only differentiated from the real 1936 coin by a tiny dot below the date.
The Canadian plant produces a very small number of specimens of the three dotted coins and of the three unmodified denominations, 5 cents, 50 cents and 1 dollar. A small production for urgent circulation is released for the dot 25. The dot cent and the dot 10 will not be issued.
An employee of the Royal Canadian Mint had kept a complete set of the six specimens. Acquired together in 1954 by a collector, they were sold separately by Heritage in January 2003.
This group included the best of the three known George V dot cent 1936 coins. Certified Specimen 66 Red by PCGS, it was sold for $ 400K including premium by Heritage on January 3, 2010. I discussed it in this column before that sale. Please watch the video shared by the auction house.
This specimen still had a layer of protective lacquer put by the factory to improve its short term preservation. Slight discolorations were reported in 2010. This coating has been removed and the coin is now graded SP 65 Red and Brown, also by PCGS. It is estimated $ 250K for sale by Heritage in Chicago on August 15, lot 31048.
RESULTS including premium :
1 cent : SOLD for $ 310K
10 cents : SOLD for $ 66K
2007 Her Majesty's Bullion
2010 SOLD 3.27 M€ before fees
A "bullion coin" is produced for investment and not for circulation. These coins have a facial value, by similarity with the ordinary currency, but their real value is their weight of metal.
Gold bullion coins generally have a purity of 99.99%.
In 2007, the Royal Canadian Mint announces the launch of a product line to 99.999%. And as now the only way to get noticed is gigantism, they produce a coin with facial value of 1 million Canadian $. A small number of investors will then order similar parts.
The piece measures 53 cm in diameter, 3 cm thick, and weighs 100 kg. Chemists will appreciate this remarkable feat of engineering. The obverse is a portrait of Queen Elizabeth II. The reverse shows the emblem of Canada, three maple leaves. Its value to weight is approximately € 3.2 million.
The copy that was owned by an Austrian financial company is for sale by Dorotheum in Vienna on June 25. Exciting fate for this symbol of capitalism: the owner has gone bankrupt!
POST SALE COMMENT
This lot has been sold 3.27 million € before fees. This is the price of its metal value to weight, not surprisingly. The extreme purity of gold has not generated an added value.
Gold bullion coins generally have a purity of 99.99%.
In 2007, the Royal Canadian Mint announces the launch of a product line to 99.999%. And as now the only way to get noticed is gigantism, they produce a coin with facial value of 1 million Canadian $. A small number of investors will then order similar parts.
The piece measures 53 cm in diameter, 3 cm thick, and weighs 100 kg. Chemists will appreciate this remarkable feat of engineering. The obverse is a portrait of Queen Elizabeth II. The reverse shows the emblem of Canada, three maple leaves. Its value to weight is approximately € 3.2 million.
The copy that was owned by an Austrian financial company is for sale by Dorotheum in Vienna on June 25. Exciting fate for this symbol of capitalism: the owner has gone bankrupt!
POST SALE COMMENT
This lot has been sold 3.27 million € before fees. This is the price of its metal value to weight, not surprisingly. The extreme purity of gold has not generated an added value.
