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FM20312

George I 1723 SSC Sixpence, smaller lettering on obverse

George I (1714-27),silver Sixpence, 1723, South Sea Company issue, smaller lettering on obverse than on reverse, 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, initials SS and C in alternate angles, seven strings to Irish harp, garter star at centre, date either side of top crown, Latin legend with larger letters and toothed border surrounding, .BRVN ET. L. DVX S.R.I.A TH ET. EL., weight 3.00g (Bull 1612; ESC 1600; S.3652).Toned with some underlying brilliance, with a few light marks, almost extremely fine and pleasing.

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 to be coined with their initials. The silver supplied up to 1723 produced a large coinage of Crowns, Halfcrowns, Shillings and Sixpences all dated 1723. The calendar year mintage reflects the massive influx at £149,107, the highest since the great recoinage period of William III and not bettered until the recoinage of 1816. New book "The Metal in Britain's Coins" by Graham Birch talks about the whole issue further in Chapter 5, page 70.

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