Lot 2273
Great Britain. Proof Bank of England Dollar, 1804. S.3768; ESC-1946; Dav-101; KM-Tn1. George III. Struck in silver. Obverse; Kuchler's detailed laureate draped portrait of king right. Reverse; Small Britannia seated within oval. FIVE SHILLINGS around and BANK OF ENGLAND in outer circle below toothed border. Mint state with mirror fields and light grey blue toning, the ghosting of the detail of the original host 8 Reales can be clearly seen on the obverse of this coin. PCGS graded Proof 62. Estimate Value $1,800 - 2,000
* Towards the end of the 18th century and the start of the 19th century, Britain experienced one of the many shortages of circulating currency coins. This was due in great part to the disruptions caused by the Napoleonic Wars. The Bank of England attempted to alleviate the problem by stamping the head of George III in an oval or octagon, on a Spanish 8-Reales host coin and declaring these as legal tender in Britain.
After many of these countermarked Spanish 8-Reales were counterfeited, the Bank of England decided to counterstamp the entire coin. The Bank of England dollar, overstruck on the Spanish crowns of the period remains one of Britain's most curious and enigmatic numismatic items.
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