Royalty
The British banknote set to sell for up to £12,000!
Tomorrow on 28th October a Victorian £5 Banknote is set to sell at auction catalogued at up to £12,000! Now you might be wondering how an old piece of paper could be worth such an extortionate price. Well, even though it is over 150 years old, the banknote is in pristine condition – almost as if it has come straight from the Victorian Cashier who issued it himself!
The £5 Banknote, dated for the 28th December 1863 is a representation of the height of the industrial period and the advances made in Victorian Britain. In fact the design and printing technology was so advanced that the exact design was used up until 1956! You see, British Banknotes have an incredible history that is often overlooked in the collecting world…
The First UK Banknote
In 1694 King William III was at war with France, and as is often the case with warfare, the financial state of the nation was put under pressure. And so the Bank of England was established. One of its main jobs was to issue banknotes in return for deposits of gold or silver. It’s thought that the first banknote ever issued was one for £1000! But seeing as most people’s wages were less than £20 a year in those days, most people never saw a banknote.
Each banknote was handwritten on bank paper addressed to the payee, and signed by a cashier to authenticate it –sort of like a modern day cheque. This is a tradition that continues today as each banknote is issued with the Chief Cashier’s signature.
“I promise to pay the barer on demand the sum of five pounds”
Before 1853 banknotes were completely handwritten, but the innovation of the Victorian period meant that templates for banknotes could be printed. Therefore cashiers no longer had to sign each note individually. The words “I promise to pay the bearer on demand the sum of Five pounds” were introduced to link the notes to a physical gold value. In theory, anyone could go to the bank and ask them to give them £5 worth of gold in exchange for a £5 banknote, although the meaning has changed today, the tradition remains on the banknotes.
Emergency Wartime issues
During the First World War, gold was preserved by the government and gold coins in circulation had to be withdrawn. To replace these coins, the Bank of England needed to make a large supply of £1 and 10/- notes available, but the haste at which these were produced meant that there were huge security problems. The notes were too small for cashiers to handle and they had very few anti-counterfeiting measures, but the notes themselves played a vital role in keeping the economy going.
The Second World War Nazi threat
During World War Two, the British government found out about a Nazi plot to introduced thousands of fake banknotes to destabilise British currency. However the Bank of England took emergency action and changed the colour of some of the notes for the duration of the war. The Nazi’s could not match the high levels of security features on the British banknotes and their plans failed.
Polymer banknotes
Today historic banknotes are harder and harder to get hold of, especially the ones in good condition, and those that are will often sell for thousands of pounds. Few have seen the earlier banknotes, and a small number of us remember using pre-decimal or war time banknotes in our childhoods. This is largely because the paper design which made them more susceptible to damage, so many have been lost over time. The new polymer banknotes first issued in 2016 marked a monumental change in numismatic history, bringing new technology and innovation to our pockets.
If you’re interested
Today you have the chance to own a limited edition pair of Emergency Wartime Banknote reproductions, each struck from 5g of FINE SILVER.
The Emergency Banknotes each carry a fascinating story, and your Silver versions come complete in a presentation folder telling the full story of how these banknotes helped Britain win the war.
JUST 100 of these special FINE SILVER banknotes pairs are available, so click here to order yours now, before it’s too late >>
The most collectable Sovereign yet – Australia’s FIRST ever Piedfort Sovereign
The Gold Sovereign is undoubtedly one of the most famous gold coins in the world. It’s a classic piece of coinage that is coveted the world over and is highly sought after every year by thousands of collectors.
But have you heard of a Piedfort Sovereign? They’re incredibly rare and are some of the most highly sought-after issues I’ve ever seen – demand for the first UK Piedfort Sovereign was so high that it sold out within 24 hours!
Now, in its 165th year, the Perth Mint has created numismatic history by releasing the first ever Australian Piedfort Sovereign.
Crucially, there are three key reasons why this limited edition coin is set to be the most collectable and sought-after Sovereign ever issued…
1. It’s a piece of numismatic history
The Australian Sovereign is as close to a well-kept coin secret as you’re going to find. It’s been struck every year since 1855 to the same exact specification as the UK Sovereign.
Importantly, this is the very first time the Australian Sovereign has been struck to a Piedfort specification. This makes it a significant piece of numismatic history, as it is the first-of-its-kind to ever be struck.
But it’s not only the Piedfort specification that makes this coin historically significant. The classic Australian Sovereign design features a special one-year-only “165” privy mark, to mark the 165th anniversary of the first Australian Sovereign. The Sovereign is the ‘King of Coins’ so this superior issue couldn’t be a more fitting tribute.
These two facts alone make this issue incredibly desirable and will make it a priority for collectors in the future.
2. Superior, highly collectable specification
In the 12th century Piedforts were considered prestige pieces and ownership was often used to signify a person’s wealth and power. Today, Piedforts continue to be limited issues and striking of such pieces is reserved strictly for the most important events.
Struck on double thickness blanks, Piedforts are twice the weight and contain twice the amount of precious metal as their standard coin counterparts. They’re some of the finest examples of coin craftsmanship you’ll ever see.
What’s more, they have tiny edition limits and consequently fast sell-out rates. This makes them some of the most collectable coins around.
3. Sell-out all but guaranteed
I saved the most significant point for last. You see, when the very first UK Piedfort Sovereign was released in 2017, with an edition limit of 3,500, it completely sold out within 24 hours at the Mint.
Compare this to the very first Australian Piedfort Sovereign, with a worldwide edition limit of 350 coins. Yes, you read that correctly, JUST 350 single Australian Piedfort Sovereigns have been issued – that’s a mere TENTH of the number of UK Piedfort Sovereigns that sold out in 24 hours.
The high demand of Piedfort Sovereigns suggests that we are looking at a record-breaking sell-out.
If you’re interested…
As official Perth Mint distributors we have been fortunate to secure a limited number of these limited edition Sovereigns for UK collectors. Just 350 have been issued worldwide, making it ten times rarer than the first ever UK Piedfort Sovereign that sold out within 24 hours of release.
Considering that this coin is a numismatic ‘first’ very few will make their way out of Australia, meaning your chances of owning one are very limited. Don’t hesitate, click here for more information >>
Celebrating the most iconic coins of King George III’s reign
On 29th January 2020 we marked the milestone 200th anniversary of the end of King George III’s reign. And whilst some will remember him as the ‘Mad King’, there is no denying the coins issued during his reign are some of the most iconic to have ever graced the pockets of the British public.
To celebrate his legacy some of the world’s most renowned Mints have issued some remarkable coin issues.
I’ve picked out some of my favourite designs to share with you today so you, too, can have the joy of discovering the most beautiful coins issued during King George III’s rule.
2020 UK King George III £5 BU £5
In 2020, to mark the 200th anniversary of King George III’s death, The Royal Mint issued this £5 coin.
Struck to a Brilliant Uncirculated finish, this coin features a design by Dominique Evans which explores the multifaceted nature of Britain’s longest reigning king. The design incorporates an effigy of the king alongside the King’s Observatory and Windsor Castle.
King George III’s impressive 59-year reign was memorable for multiple military conflicts, including the end of the American War of Independence and the defeat of Napoleon in the Battle of Waterloo. He oversaw great change in Britain as we emerged as a world power, and was even the first monarch to appear on the modern Sovereign!
I’m sure you’ll agree that this is a stunning issue. Do you have this coin in your collection? Let us know in the comments below.
St George and the Dragon
Designed by renowned engraver Benedetto Pistrucci, the St George and the Dragon design is probably one of the most instantly recognisable motifs in numismatic history. The design first appeared on the modern Sovereign in 1817, when it was struck to replace the gold Guinea following the Great Recoinage Act of 1816, and it still appears on today’s Sovereigns. This made King George III the first monarch to appear on the modern Sovereign, so it’s only fitting really that he is commemorated on a new range of Sovereign coins.
Pistrucci’s iconic design also appeared on King George III’s 1818 Crown, the first type of Crown or Five Shillings to be issued in his reign. This Crown was the first ‘new’ Crown coinage to be struck, and significantly only 155,000 were ever minted – making it highly sought-after amongst collectors today.
(Image courtesy of JN Coins, http://www.jncoins.co.uk/Shop/milled-crowns/702-george-iii-silver-crown-1818-lix.html)
The East India Company have struck a beautiful interpretation of this timeless design on the most prestigious Sovereign denomination – the Five Sovereign. The spectacular scene is framed by the Latin motto “hoit soit que mal y pense”, which translates to “shame on him who thinks evil of it” – the motto of the British chivalric Order of the Garter.
‘Counter Stamped’ Spanish Dollar
The cost of the French Revolutionary Wars, combined with the threat of invasion on the Welsh and Irish coasts, took its toll on the Bank of England resulting in members of the public demanding to withdraw large sums of cash. The result was a currency crisis, as the panicked public depleted the coin and bullion reserves of the Bank of England.
One thing was clear, a solution to the gold and silver coin shortage had to be found, and quickly. At the time most of the Bank’s reserves were held in the most popular coin of the time – Spanish Dollars. To fix the currency crisis King George III authorised the counter stamping of these Spanish Dollars with a ‘puncheon’ of the King’s head as part of the hallmarking. These modified dollars were released rapidly into the market, allaying the currency crisis.
(Image courtesy of coinweek.com, https://coinweek.com/dealers-companies/ma-shops/coinweek-sponsor-amazing-uk-coins-on-ma-shops/)
In tribute to this iconic coin, the East India Company has replicated the design on a Double Sovereign piece. The reverse features an effigy of King Charles III of Spain inset with the effigy of King George III to represent the same process as the original Spanish Dollar coins.
Spade Guinea
Under King George III’s reign Britain witnessed the Great Recoinage Act of 1816, following which the favoured gold coin of the time, the Guinea, was replaced by the Sovereign. This was a huge moment for Britain in terms of its currency as the Guinea had become the very foundation of the British Empire’s growth during the late 17th and 18th centuries. Had the Guinea remained in use it would have been circulating at the time of Wellington’s victory at Waterloo!
In its heyday several different motifs featured on Guineas, but none is as famous as the Spade Guinea. Nicknamed because of the spade-like shield on its reverse, this design featured on the last ever circulating Guinea during King George III’s reign.
(Image courtesy of JN Coins, http://www.jncoins.co.uk/Shop/milled-gold/118-george-iii-spade-guinea-1798.html)
In fact, this is the only Guinea to feature this distinctive reverse design, and the Half Guinea issued in the same era is the only Half Guinea to also feature it. This makes the Spade Guinea one of a kind. It is this fact which makes the coin fascinating to collectors and historians alike.
Although the Guinea is no longer in circulation you may still come across its name from time to time in classic horse racing. The longstanding tradition of livestock being traded in Guinea values still exists in some auction houses and horse racing organisations because the name ‘Guinea’ is so intrinsically linked with the ‘sport of kings’.
And now this iconic design has been faithfully replicated on a Sovereign, issued by the East India Company. It represents England, Scotland, France and Ireland, as well as the German possessions of the Hanoverian dynasty.
Secure the 2020 UK King George III £5 BU Pack
Available to own in official bespoke Royal Mint presentation packing, the 2020 UK King George III £5 coin has been struck to a superior Brilliant Uncirculated quality.
Secure this bespoke presentation for your collection for just £13.00 (+p&p) by clicking here >>