Lot 1128
Great Britain. 'Fine Work' Five Guineas, 1701. S.3456; Fr-310. William III, 1694-1702. Plain Scepters. Second laureate bust right. Reverse; Crowned cruciform shields with plain scepters. Sharply struck example with fine hair detail. The 'Fine Work' gold coins of William III are among the most spectacular of the period. Surfaces are proof like and gleaming with luster. A lovely example with great eye appeal. Pop 4; 4 in 62; 6 in 63. PCGS graded MS-61. Estimated Value $30,000 - UP
The marvelous and deeply engraved portrait of King William on this coin, known as the "fine work" style, appeared only at the end of his reign and only on three of his gold denominations, all dated 1701. It was the last date to appear on any of his money. Each of the three gold coins presented the king wearing a long periwig slightly differently, but the most elegant of the designs was shown on this, the largest denomination. It was remarkably lifelike, even to the king's crooked nose and fine moustache. The reverse side's royal shield reverted from the elegantly Renaissance style of the former dual monarchy's coinage, presenting the more traditional four crowned royal shields in the shape of a "cruciform," each angle displaying a scepter topped by an emblem of the four kingdoms-of England, Scotland, France and Ireland in order from the first to last angle. The bold surrounding legend in Latin abbreviations proclaims William as King of Great Britain, France and Ireland.
The famous Great Re-coinage of the silver money occurred late in this reign, during the middle 1690s, under the watchful eye of the Royal Mint's chief, Sir Isaac Newton, famed scholar and mathematician. It allowed all of the old, damaged and worn silver money to be returned to the Mint without loss of value (in other words, at face) to holders of the money that had lost so much of its real, intrinsic value. Bright new silver sixpence coins and shillings and halfcrowns were minted by the millions, to the relief of the public who now had full confidence in the real value of their money. But the Mint also continued to issue golden money of excellent quality. The whiff of change was in the air, however: the Bank of England's paper money, currency with the full backing of the bank (which had been founded in 1694 during this reign and had been growing in influence steadily until it funded the Crown's governing activities) was going to replace these beautiful large gold coins within six decades. Of all the coins of William III, collectors most cherish this splendidly made coin, worth a fortune in buying power in its day.
Ex Goldberg Sale 41, May 27, 2007, lot 4522.
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| Realized $87,000 |
