1703 Vigo 5 Guineas Gold is Star of The Millennia Saleby Greg Reynolds for CoinLinkOn May 26, Memorial Day, the firm of Ira & Larry Goldberg will auction an amazing collection of world coins, the Millennia collection. It will be forever remembered for both depth and quality, though particularly the latter. All Continents are represented, and a large number of nations. The coins in this collection span periods from ancient times until the 20th century. One important highlight is a large English gold coin featuring Queen Anne, who ruled from 1702 to 1714.
This Queen Anne Five Guineas is dated 1703, and it is the only Five Guineas issue with the word "Vigo" below Queen Anne's Bust. Along with the Triple Unite of Charles I, which was minted in 1643 and '44, the Queen Anne Five Guineas is the most famous of English gold coins, and the 1703 date is a Great Rarity.
The gold coins of Queen Anne were minted, between 1702 and 1714, in denominations of Five Guineas, Two Guineas, One Guinea and Half Guinea. A Guinea weighs more than eight grams, and a Five Guineas piece weighs more than forty-one grams, about 1.4 ounces, and is more than 37 mm in diameter, nearly an inch and a half! So, a Five Guineas coin is more than 20% heavier and around 10% wider than a typical U.S. Double Eagle ($20 gold coin).
Five Guineas coins were first minted in 1688 and last minted in 1753. The 'Guineas' term was unofficial, and came about because some of the gold used to produce such English coins literally came from Guinea, in West Africa. Originally, a Guinea was equivalent to twenty shillings or one Pound (£1). In the 1600s, at least for a while, the coins that are in retrospect referred to as "Five Guineas" coins were called "Five Pounds" coins by the people who spent them. Over time, though, a Guinea came to be worth twenty-one shillings and thus more than a Pound, because the relative price of gold bullion in silver shillings changed. By the 1700s, a Five Guineas gold coin was worth 105 shillings, which was the same as five Pounds and five shillings.
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Posted 05/19/2008 3:01 pm
