Charles II 1664 Two Guineas Elephant, ex Flanagan and Eliaberg collections

Charles II (1660-85),gold Two Guineas, 1664, elephant below first laureate head right, Latin legend and toothed border surrounding, CAROLVS. II. DEI. GRATIA,rev.crowned cruciform shields, emblematic sceptres in angles, four interlinked Cs at centre, date either side of top crown, Latin legend and toothed border surrounding, .MAG. BR. FRA. ET. HIB. REX., weight 16.64g (Schneider 430; Bull EGC 204; MCE 32; S.3334).Toned with surface marks and some short hairline scratches both sides, weakly struck in hair as usual otherwise, very fine was formerly straight graded by NGC as XF40.

The Latin legends translate as on the obverse "Charles the second by the Grace of God," and abbreviated on the reverse as "King of Great Britain, France and Ireland."

Such coins with the elephant provenance mark below the bust were issued by the Royal African Company which was launched by Prince Rupert in 1660 to bring back gold and trade goods from Africa. The Company did well at first and no doubt produced this gold coinage of Two Guineas dated 1664 after an initial first issue of Guineas the year before. Guineas were also issued dated 1664 but clearly the larger Two Guinea piece was used for the bulk of the Royal African Company issue to coin their gold quicker. 1664 was also the year in which the Company became over-confident on the African coast trying to take over some of the Dutch trader forts and positions, in which Sir Robert Holmes with up to eleven Royal Navy warships at his disposal was perhaps too aggressive in taking over Dutch assets and was briefly imprisoned on his return for taking his orders too far. The monetary costs of his confrontations also caused havoc with the Company's finances, somehow soldiering on with some further coin issues, through to 1671 when it eventually became insolvent. The Company was soon relaunched again from 1672 as the Royal African Company of England.

For further reading see "The Metal in Britain's Coins" by Dr Graham Birch.

We note the total output of gold for the calendar year of 1664 only totalled £53,011 which would include the elephant marked coins. The only denominations for 1664 are the Two Guinea and Guinea.

Provenance:

With NGC label as Ex Eliasberg certification number 3605672-002 from which the coin has been broken out.

Ex J.W. Flanagan Collection, Stack's Auction, 23^rd -25^th March 1944, lot 33, illustrated and sold for $55.

Ex Louis E. Eliasberg Senior, American Numismatic Rarities / Spink Auction, New York, 18^th -19^th April 2005, lot 373.

Ex Heritage New York signature sale, 6^th January 2013, lot 20796.

Ex Dix Noonan and Webb, auction 111, 12^th June 2013, lot 571.