George II 1729 EIC Half-Guinea VF35, East India Company issue

George II (1727-60),gold Half-Guinea, 1729 E.I.C., initials of the East India Company below young laureate head left, GEORGIVS.II. DEI.GRATIA,rev.crowned quartered shield of arms, date either side of crown, M.B.F. ET. H. REX. F.D. B. ET. L. D. S. R. I. A. T. ET. E., weight 4.17g (Schneider 596; Bull EGC 629 R3; MCE 336; S.3682).Toned, has been slabbed and graded by NGC as VF35, extremely rare denomination for the East India Company issue.

NGC Certification 2130744-008.

The East India Company provided quantities of gold bullion from their trading activities to the Royal Mint to strike coinage with their provenance mark "E.I.C." at various times in the reign of King George II, probably as they were also responsible for taking great quantities of silver out of the country for export. The edges of these spectacular gold coins also carry an inscriptions as an "ornament and a safeguard" against the old practice of clipping with a further statement that this coin was issued in the third year of the King's reign. However, the Mint's official output figures show no gold produced in the calendar year of 1729 and Woodhead notes in the output tables in Schneider that the EIC gold coinage was not included the official figures until 1731 when the gold output was £305,768 which is on the smaller side of gold outputs for the reign. Most often seen is the EIC Five Guineas dated 1729 probably because more of the EIC type Five Guineas were saved from circulation, especially if the company originally gave such larger coins out to backers and favoured persons as gifts to cherish rather than use and spend. There is a record of Queen Caroline for instance receiving East India Company gold. The new East India Company headquarters opened in Leadenhall Street London in this year. 1729 is the first year a Five Guinea is marked E.I.C., and there was also a Guinea and Half-Guinea so marked this year. The E.I.C. marked coinage continues for only a ten-year period of dating and only for five dates in the period, 1729, 1730, 1731, 1732 and finally 1739. For 1730 there seems only to be an issue of Half-Guineas, the other later years are Guinea and Half-Guinea only. All are rare to extremely rare to find today.

Provenance:

Ex Spink Coin Auction 55, 8^th October 1986, lot 345.