Owner Comments:
Pictured above is a 1670A 5 Sols (1/12 ecu) French Colonies coin that has been variously designated as: Lecompte-186; W-11605; Breen 256; and is the Martin 5-H plate coin. Only 2 examples of this specific die pairing are known. This 5 sols emission has been graded EF 45 by PCGS.
I acquired this piece from the Collection of Sydney F. Martin, who is widely acknowledged to have completed the most complete collection of 1670 French Colonies coinage ever assembled. Mr. Martin amassed an impressive: 16 5 sols pieces; 2 specimens of the extremely rare 15 sols; and the unique copper Double de l'Amerique coin, all of which were used in preparation of his 2015 definitive work entitled "French Coinage Specifically For Colonial America".
The 5 sols coin, fashioned in .91667% silver, features a laureate and draped bust of Louis XIV, then aged 30, facing to the right. Although Louis XIV has come to be known as the "Sun King", the sun that appears above his head on the coin's obverse is believed to be a symbol adopted by the Paris Mint Master, Pierre Cheval, rather than relating to the king himself. The abbreviated obverse legend translates into Louis XIV, by the Grace of God, King of France and Navarre.
The coin's reverse displays a crowned shield containing 3 fleurs de lys. The encircling Latin legend translates into: They will speak of the glory of thy kingdom", a biblical reference which has been interpreted to refer to God rather than the egotistical king. The reverse also contains an "A" mint mark indicating the coin was a product of the Paris Mint; the 1670 date; and a castle/rook shaped figure, located near the upper border that was the mark (differents) of the mint's chief engraver, Jean-Baptiste DuFour.
These Gloriam Regni coins were authorized pursuant to a royal decree on 2/19/1670, for the benefit of the French West India (Indies) Company, that held a monopoly over the French territories in the New World, and others.
The coins, whose dies were created by engraver, Jean Warin, were initially minted in reasonably substantial numbers: 41,569 15 sols pieces, and 202,453 5 sols. Even though small change for everyday transactions was sorely lacking, these coins were ultimately unpopular and little used in the colonies, largely because they could not be used to pay for goods in France, and because the government artificially inflated their value by a third to promote their local use. These revaluations were not recognized by foreign merchants, who melted down substantial numbers for their precious metal content.
Today, only 17 15 sols coins are known. Approximately 50 to 100 5 sols are estimated to exist, with 18 of those in NGC slabs, and a larger number in PCGS slabs.