James II 1687 Crown TERTIO, second bust, off-centre die axis MS62

James II (1685-88), silver Crown, 1687, second laureate and draped bust left, legend and toothed border surrounding, IACOBVS. II. DEI. GRATIA, rev. die axis a little off-centre, crowned cruciform shields, seven strings to Irish harp, garter star at centre, date either side of top crown, MAG. BR. FRA. ET. HIB REX., edge inscribed in raised letters and dated, +.DECVS. ET. TVTAMEN. . ANNO. REGNI. TERTIO.+, 30.08g (Bull 743; ESC 78; S.3407). Toned, well struck for this notoriously weak issue with good hair detail, with some light flecking only both sides, graded by NGC as MS62.

NGC Certification 6031695-004.

The Latin legends on this coin translate as "James the Second, by the grace of God" on the obverse, "King of Great Britain, France and Ireland" on the reverse, and finally on the edge "An ornament and a safeguard, in the third year of his reign"

A major influx of silver came into the mint for coinage during 1687, as a successful sea salvage operation of a treasure from the Spanish ship the Nuestra Senora de la Concepcion had occurred off the East Coast of North America. This was remarkable considering that the ship had sank some forty years before and had broken up over the Ambrosia Bank Shoal. William Phips was in charge of the successful recovery and delivery of some 25 tonnes of silver, which was made to the Mint in June 1687. Perhaps this is why much of the silver coinage of James II often shows haymarking and flaws, as the silver used had been immersed in saltwater for some 40 years before, refining, annealing and striking.

The coins were also rushed in their production as 25 tonnes of silver amounting to £205,536 of coin, was to be processed making weaknesses prevalent across the larger denominations. This input from the salvage was four fifths of the silver output in coin for 1687.

Provenance:

Ex Spink Numismatic Circular, June 2002, item MS2724.