Coins and Historical Medals

George III (1760-1820), Pre-1816 issues, Guinea, 1788, fifth bust variety, 8.26g/6h (cf. MCE 392; cf. S 3729). Extremely fine, of the highest rarity and apparently unpublished £6,000-8,000

The portrait is of a similar style to that of the 1787-1799 series but the king’s neck is noticeably longer and there are some significant differences in the tie-ends of the wreath and the treatment of the hair.

This is a previously undiscovered and unpublished portrait of George III on a ‘spade-reverse’ guinea and although it is almost 250 years since the coin was struck, it is perhaps not surprising that a new variety such as this has been spotted for the first time. More new varieties are being discovered regularly on various coinage denominations as numismatic study progresses and enthusiasm becomes more intense. However the rarity of the piece must indeed be high.

There are currently six portraits of George III to be found on the guinea series, spanning the period 1761-1813. On some, the variation in style and detail is small, while on others, most noticeably the 1813 ‘military’ type guinea and similar half, the differences are vast.

Appraisal of the George III half-guinea series, however, shows that there are seven recognisable portraits of the king, spanning the period 1762-1813. It is interesting to note that the sixth half-guinea head is a somewhat less obvious variety of the fifth head than is the new guinea variety considered here. The addition of a new portrait on the guinea (as on this coin) would bring the number of portraits for each denomination into line.

The fourth guinea portrait used from 1774-86 was sculpted by Lewis Pingo (1743-1830), as was the fifth, used from 1787-99. Much of the style of the new portrait under discussion is in line with that of both portraits and the engraving of the king’s hair and facial features is as well executed as on the currently recognised Pingo effigies of this period. It is not unreasonable to assume that Pingo, or an engraver working under his tutelage, produced this new effigy of the king which would appear to have received little or no currency usage