George I shilling
Leon Boulton said this coin was retrieved from a depth of 8 inches in a pasture field. It’s an early milled shilling, which is a common date and type but it is rare as a detecting find.
On the obverse is the first bust of George I. On the reverse it is dated 1723 and between the four shields it has SS C SS C. Therefore, this shilling was struck from silver bullion supplied to the Royal mint by the South Sea Company.
Many trading companies were formed during the early years of the 18th century, which led to fortunes being made and lost. Shares in the South Sea Company did exceptionally well until the ‘bubble’ burst in 1720. Those who had sold out in time remained wealthy, whilst others who had held on were ruined.
The South Sea Company was eventually saved from bankruptcy by the Bank of England. In 1723 crowns, halfcrowns, shilling and sixpences were struck. Crowns and halfcrowns are quite scarce but sixpences are common and shillings very common.
Valuation
Leon’s find would grade about VF and in that condition a likely pre-sale auction estimate would be £60-70.
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