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Lot 354
Great Britain. "VIGO" Five Guineas, 1703. S-3561; Fr-183; KM-520.1. 41.69 grams. SECVNDO on edge. Queen Anne, 1702-1714. Draped bust left; VIGO below bust. Reverse: Crowned cruciform arms, with alternating scepters and a central (Tudor) rose. Uncirculated, a wonderful specimen blessed by superb eye appeal, with all details sharp, and complimented by deep, proof-like luster. Scattered faint hairlines (from being in important collector cabinets over the past 300 years). Historical, and excessively rare. Perhaps the finest known. NGC graded MS-61 Prooflike.
Throughout the 17th century, the British and the Dutch played off and on the game of "Friend/Enemy." Sometimes Spain would be pulled in on one side or the other of its two erstwhile enemies. By 1701 Britain and Holland were once again "friends," and soon would be making common cause against Spain again. This time it would be in the form of the War of Spanish Succession (1702-1713), fought simultaneously in the North American Colonies as Queen Anne's War. This would be the last of the general European wars resulting from France's Louis XIV's efforts to expand French power and territory.
The childless King Charles II of Spain, advanced in years, with increasingly precarious health, found it necessary to choose among three principal candidates as his successor. These were Louis XIV, on behalf of his eldest son, a grandson of King Philip IV of Spain (Louis had been married to Philip's daughter); the Electoral Prince of Bavaria, Joseph-Ferdinand, a great-grandson of Philip IV of Spain; and the Holy Roman Emperor Leopold I, who had married a younger daughter of Philip IV but claimed succession on behalf of his son by a second marriage, Archduke Charles (later Holy Roman Emperor Charles IV).
England and Holland, of course, were opposed to a union of French and Spanish realms, since this would have heavily tipped the balance of power to France, making it the leading world power, a consequence undoubtedly being the diversion of Spanish trade from England and Holland to France. On the other hand, England, Holland and France were all against the choice of Archduke Charles, since this would have reunited the Spanish and Austrian branches of the House of Hapsburg; again, a significant power shift.
Agreements and two treaties were promulgated from 1697 through 1700 involving exchanges of land and zones of influence as a means of working out the difficulties and avoiding conflict. Unfortunately the unexpected death of Joseph Ferdinand created a crisis. While diplomats scuttled to and fro to sort out the difficulties, parties at Charles' court, desiring to preserve Spain's territorial holdings, persuaded the dying Charles to designate as his sole heir the grandson of Louis XIV -- Philip, duke of Anjou, who thereafter became Philip V of Spain. Louis XIV, deciding to abide by Charles' will, broke the partition treaty agreed upon with England and the Netherlands. The latter two, although willing to recognize Philip as King of Spain, were increasingly antagonized by France's growing commercial competition. This and other factors lead to an anti-French alliance among the Dutch, England and Leopold.
Among the various joint Anglo-Dutch expeditions against the Spanish, one was led by Sir George Rooke in 1702. In this, the Spanish seaports of Cadiz and Vigo were sacked, and a number of Spanish treasure ships were seized in Vigo Bay. The booty brought back to England totaled over 11 million silver "pieces of eight," along with a small quantity of gold. In a dramatic move to commemorate the event, silver coins in 1702-1703 were struck bearing the word VIGO. The gold was likewise struck in this fashion, with a very few large Five Guineas being made, the smaller Guinea and Half Guinea being the primary issues (although these too, today, are very rare). Sir Charles Oman, in his "Coinage of England," page 345, notes that the minting "of these great celebratory coins" was given to the care of Isaac Newton, who was then Master of the Mint at London, having been appointed in 1699. Oman states that only 276 Pounds Sterling in gold coins were produced from the Vigo haul, again with few large Five Guineas being made, and the rest apportioned to the Guineas and Half Guineas.
Estimated Value $150,000 - 200,000.
Ex Murdock 1903, lot 834. Only 15-20 specimens known, and this is reputedly the finest. With diagnostic lint mark on the scepter of the fourth quarter of the cruciform. Most numismatists believe the 1703 VIGO Five Guineas to be the rarest of all English gold coins. This coin was the sole cover illustration of the 2003 edition of Spink's Standard Catalogue of British Coins: Coins of England and the United Kingdom, London, 2002; Illustrated in Money of The World, coin 105.
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