Lot 2593
Great Britain. 5 Guineas, 1668. S-3329; Fr-282; KM-430.2. Charles II, 1660-1685. First laureate bust of King right with Elephant below. Reverse: Crowned cruciform shields with sceptres in angles, interlocking C's in center, lettered edge reads +DECVS. ET. TVTAMEN. ANNO. REGTNL VICESIMO. Lovely reddish toning with considerable luster.
Historical note: This stunning, large gold coin features an especially well-made portrait, essentially identical to that on the later piece, of 1677, in this collection, but made distinctive by its elephant hallmark not having the surmounting castle. Its plainness speaks volumes, however, as indicative of the source of the metal from which this coin was made, Guinea on the gold coast of Africa. The Royal African Company mined and imported the gold ore, which was coined at the Tower Mint. The hallmark was initially just the elephant, the company's badge, but later the more distinctive elephant with castle was used as it seemed more regal. It first appeared on the Guinea of 1664, and on the 5 Guineas in this year, 1668, which was a new denomination at the time, the first huge machine-made gold coin of royal issuance. The hallmark's last use in this reign was on the "fiver" of 1684, which is the final coin in this collection bearing this monarch's name. (Thus, all the varieties are here represented.) In their day, these coins were not called Guineas or their multiples, but instead were known by their weight as the Pound Sterling and its multiples, initially being valued at 20 Shillings to the Pound (or Guinea), and so today's 5-Guineas coin was then known as 100 Shillings in gold. It was quite a coin! Its value represented months and months of a laborer's time, and in fact few commoners ever saw a coin such as this, which was normally the property of the nobility and of bankers. A century after this coin was minted, a wealthy heir may have had an annual income of 500 Pounds, and yet most 5-Guinea coins seen today show considerable wear, so the denomination must surely have been passed constantly from one hand to another, if mainly as banking transactions. Commerce has been fierce in England for centuries, as anyone knows who visits the country today: a coin bearing a date of just five years ago is typically quite beat up from use. Times were no more kind to a large gold coin in 1668, so it is a miracle of survival to behold a coin so finely preserved as the present piece. NGC graded MS-61.
Estimated Value $18,000 - 20,000.
Ex: Eli Wallit Coll. lot 370. Morton & Eden 12/11/2003; The "Sylvia" Collection, through Mark Rasmussen by private treaty.
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| Realized $41,400 |
