George I 1723 SSC Shilling, French Arms at date, AU58 very high grade

George I (1714-27),silver Shilling, 1723, South Sea Company issue, variety with French arms at date, first laureate and draped bust right, Latin legend and toothed border surrounding, GEORGIVS. D. G. M. BR. FR. ET. HIB. REX. F. D.rev.crowned cruciform shields, garter star at centre, initials of the South Sea Company in alternating angles, date either side of top crown, Latin legend and toothed border surrounding, BRVN. ET L. DVX S.R.I.A.TH ET. EL. weight 5.94g (Bull 1589 R2; ESC 1177 R2; S.3647).Toned with some haymarking on obverse and mint bloom in lettering, has been graded and slabbed by NGC as AU58, and only the second example the cataloguer has seen in thirty years in such a high state of preservation, the rare variety usually encountered in much lower grade, this coin is currently top of the graded population at NGC, extremely rare thus.

NGC certification 6029896-001 - top of population as of April 2021.

The variety is not listed at PCGS and none appear to have been graded as such.

The Latin legends translates as on the obverse "George, by the grace of God, King of Great Britain, France and Ireland, Defender of the Faith" and on the reverse "Duke of Brunswick and Luneberg, High Treasurer and Elector of the Holy Roman Empire."

The South Sea Company famously known for the economically disastrous "South Sea Bubble" of over-speculation by the public in its shares which occurred 300 years ago in 1720, subsequently managed to recover successfully with careful debt management from this low point and later supplied much silver bullion from South America to the Mint in exchange for the right to export money overseas. The silver supplied up to 1723 produced a large coinage of Crowns, Halfcrowns, Shillings and Sixpences all dated 1723.

Provenance:

Ex Robert Tonner Collection, Noble Numismatics auction 104, 26^th November 2013, lot 2338.