GREAT BRITAIN George I 1723 AR Shilling PCGS MS64 S-3647; ESC-1586 South Sea Co

Description

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1061965 | GREAT BRITAIN.
George I.
(King, 1714-1727).
1723 AR Shilling. PCGS MS64.
GEORGIVS · D · G · M · BR · FR·ET · HIB · REX · F · D ·. First laureate bust right
/
BRVN - ET · L · DVX - S · R · I · A · TH - ET · EL ·. SS, C in opposed angles of cruciform arms. KM 539.3; SCBC-3647; ESC-1586 (Prev. ESC-1176).
Struck from silver supplied by the South Sea Company.
The South Sea Company, founded in 1711, was created as a public–private partnership which aimed to consolidate and reduce the cost of the national debt. The company was also granted a monopoly to trade with the Pacific region and South America. Company founders engaged in bribery and conspired in insider trading, misleading their public investors who were encouraged to invest heavily in anticipation of fantastic returns on South American trade. Many investors suffered financial losses before the company's share prices crashed. The South Sea Company never managed to be profitable in trade, though it pulled through the collapse, and in 1723, provided bullion to the Royal Mint for striking silver coins.
To verify the authenticity of PCGS and NGC certified coins in this listing, enter each certification number on the respective NGC or PCGS cert verification webpages:
40566691
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