Scotland, William III Darrien Company gold Pistole, 1701

William II of Scotland (1694-1702), gold Pistole of Twelve Pounds Scottish, 1701, issued by the Darien Company, Scottish value of £12, laureate head left, rising sun over a sea below, Latin legend and toothed border surrounding, GVLIELMVS DEI. GRATIA. rev. struck en medaille, crowned quartered shield of arms, crowned W to left, crowned R to right, Latin legend with date and toothed border surrounding, MAG BRIT. FRA. ET. HIB. REX. 1701. edge grained, weight 6.84g (Burns 1 fig. 1078; S.5676). Lightly toned and retaining some light brilliance around legend, a decent portrait with a very well defined sun below over the sea, a few light surface marks both sides, rim nick on reverse, a bold very fine to good very fine and very rare indeed.

The Latin legends translate as on the obverse "William by the Grace of God," and abbreviated on the reverse as "King of Great Britain, France and Ireland. 1701"

The Darien Company was formed to found a New World Colony on the Panama Isthmus for Scotland. An excellent account of the doomed endeavour can be read in the "Darien Disaster" by John Prebble, though there is little mention of the coinage that was produced, perhaps a mute point after so many Scottish people had already lost their lives uprooting from their homeland to the Darien Gap. The coinage was made from gold dust imported by the Darien Company in trade with Africa, but ultimately the disaster nearly bankrupted Scotland and led directly towards the Union with England in 1707.

Provenance:

Ex J W G Raymond, 21^st April 1924

Ex John Work Garrett, part II, Leu Numismatics with Numismatic Fine Arts, 16^th May 1984, lot 1109.

Ex Lawrence A Adams, CNG Auction 100, 7^th October 2015, lot 1099.