George 3RD 1787 Gold Coin - Coin Community Forum

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Author	Replies: 2 / Views: 2,494
junger New Member United Kingdom 28 Posts	Posted 04/25/2011 1:51 pm Hi, This is one coin of my late brothers coin collection, I have told his daughter that I will try to find out something about them and a possible value, hope you can help me, this coin is George 3rd 1787, gold I think, anyone help please? Report this Post to the Staff

sel_69l Bedrock of the Community Australia 21789 Posts	Posted 04/25/2011 9:19 pm These coins were listed in a Proclamation by Governor King in the Colony of New South Wales, to be declared as legal tender. It was nominated with a legal value of one pound two shillings. The higher value was given for it to prevent it from leaving the Colony in payment for imported goods. This tactic did not work. The Colony had great problems in this regard and was only partially solved the the introduction of the 'holey dollar' in 1815. These coins are an integral part of early Australian coinage history This coin appears to have been mounted from a suspension loop that was hard soldered to the top of the coin. I have a guinea of 1791 with the same problem. I bought mine from an auction at not much more than gold value. I am happy with mine, with the mount mark problem, I think you may be as well. Without that problem, the coin would have been worth at least double bullion value, at around $800 USD. The currency problem was only solved with shipments of new specie from England starting from December 1825. Report this Post to the Staff
Peter THOMAS Pillar of the Community Australia 2830 Posts	Posted 04/27/2011 08:15 am also, this particular coin is known as a "spade guinea". guineas were superceded by the slightly smaller sovereign in 1817. Report this Post to the Staff
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