Great Britain (1660-62) shilling KM-405

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Heritage sale 3073, lot 31081
photo courtesy Heritage Auction Galleries
This specimen was lot 31081 in Heritage sale 3073 (Chicago, April 2019), where it sold for $1,920. The catalog description[1] noted,
"Charles II hammered Shilling ND (1660) XF45 PCGS, First hammered issue. Absolutely outstanding for the type, almost never seen so well made or well preserved as this. From the restoration of the monarchy in 1660 until 1662, hammered coins were produced bearing Charles's portrait; this two-year period represents the final issue of coins produced in this antiquated manner, being replaced by milled equivalents in 1662-63. Often, it would appear that the Tower moneyers knew that their method of coining was approaching its end, as their work routinely appears poorly made with uneven flans and weak strikes; however, neither of these attributes apply to the present, superb specimen. Its almost perfectly round flan has been boldly impressed by the dies, full legends on both sides with evident die-polish lines. Charles's portrait is slightly double-struck but this has hardly disguised its extensive detail, bearing minimal wear and only minor marks in the surrounding fields. Aside from its excellent production quality, this piece has also toned unusually well, dappled iridescence in the margins framing the calm gunmetal gray centers. Only four examples of this rare first issue have been certified by either NGC or PCGS, with just one more highly certified than the present offering - an AU50 example at NGC. However, considering the older holder and captivating eye appeal of this specimen, one is inclined to believe it worthy of an even higher certification than it already holds. From the Lake County Collection."
Oliver Cromwell's death in 1659 left a leadership vacuum which was quickly filled by inviting prince Charles back from exile to become Charles II. The first series of silver coins of his regime reverted to the old practice of not dating them and come in denominations of penny, tuppence, threepence, groat, sixpence, shilling and halfcrown. When milled coinage was introduced in 1663, copper coinage was produced for the first time since before the Civil War. The penny would remain silver until 1797.

Recorded mintage: unknown.

Specifications: silver.

Catalog reference: KM 405, S-3308, N-2762, ESC-1009.

Sources:

  • Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1601-1700, 6th ed., Iola, WI: Krause Publications, 2014.
  • Rayner, P. Alan, and Maurice Bull, English Silver Coinage from 1649, 6th Ed., London: Spink & Son, 2015..
  • Lobel, Richard, Mark Davidson, Allan Hailstone and Eleni Calligas, Coincraft's Standard Catalogue of English and UK Coins, 1066 to Date, London: Coincraft, 1995.
  • Skingley, Philip, ed., Standard Catalogue of British Coins: Coins of England & the United Kingdom, 46th edition, London: Spink & Son, 2011.
  • [1]Bierrenbach, Cristiano and Warren Tucker, Heritage World and Ancient Coins Auction 3073, Dallas, TX: Heritage Auction Galleries, 2019.

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