Owner Comments:
Although erroneously listed as a “restrike” on the label, Peck lists this coin as a late Soho piece. Remember, the term late Soho refers to a coin struck at the Soho Mint likely after the date on the coin. A restrike, according to Peck, refers to a coin struck much later by Taylor after he purchased the dies from the Soho Mint in the 1850s. Peck had enough data to suggest that this coin was struck at Soho and, therefore, should have been denoted at a gilt proof and not a “Restrike”. Oddly enough, this coin was purchased in an old NCS holder with a details grade for being “Plated”. It seems as though at the time NGC or NCS did not notice this was, in fact, a gilt proof and instead proceeded to treat it as a currency strike, hence the details grade for being “Plated”. NGC handled the situation very well, and they were able to confirm the appropriate variety designation. As always, NGC's customer service was top notch. It is listed as
very rare.
Obverse:
The obverse portrays the draped bust of George III facing right. The wreath has ten leaves and four berries of equal size, which is tied with a riband of 2 loops and loose ends. A small forked hair curl overlaps the front leaf above the brow. There is a curl on each shoulder, and the majority of the hair hangs in curls behind the neck. A brooch of 6 jewels catches and holds the drapery. Please make a note of the “K” indicating Kuchler’s initial on the lowest fold of the drapery. The legend GEORGIUS III · D: G · REX. Is contained within the sizeable broad rim. The stop after GEORGIUS and REX are blocked (i.e., they appear to be filled and have no depth compared to the stop after G). A large and very apparent die crack occurs along the base of G · REX. On most examples of this type but the die crack starts at D: to form a much larger die crack. When looking at these coins in hand and comparing them to an earlier strike of the same dies (i.e., P-1067-1069), you will notice that many areas are noticeably missing details. These areas are described as being “lapped” by Peck, which refers to the polishing of the die. As the die is polished, specific details may be lost.
Reverse: The reverse portrays Britannia seated left. Her right arm is extended to the left, holding an olive branch with 11 leaves, all of which are attached. Her left arm is down with a trident clasped in her hand. An oval shield with the crosses of St. George and St. Andrew (heraldically colored) is to her left side. Below Britannia, there are three rows of waves. Under the right side of the shield is a rock with SOHO. In raised letters (note the stop after Soho). The most extreme wave-crest on the right points to the first “O” in Soho. There is a small amount of sea visible to the right of Britannia. The three-masted warship bears a Union flag. The legend BRITANNIA. occurs within a sizeable broad rim. The date 1797 appears at the bottom of the coin. The stop after Britannia is clogged up. A considerable protruding die crack begins at N and continues through NIA nearly to the sea level. Another die crack starts shortly after and extends through the date and ends about midway through the sea in front of Britannia.
KEY REVERSE DIAGNOSTICS FOR THIS VARIETY |
Edge: Plain
Notes: Gilt proof 2 pence coins do not come to auction very often, and when they do, they typically are in gem condition and demand premium prices. I never thought I would be able to add an example to my collection due to a limited budget, but this coin was a shocking feat! I purchased this coin during one of my late-night internet strolls through eBay listings. The pictures were blurry, and it was hard for me to discern any details about the coin. I did notice that there were three rows of waves, and this was my first clue that is was a proof striking and not a currency strike. In the end, it turned out to be a gamble that paid off because I was able to add an otherwise out of reach coin to the collection for much less than I am willing to admit (it was an auction listing, not a buy it now). This has quickly become one of my favorite pieces. There is just something cool about holding a massive chunk of copper from 1797 that circulated but was only meant to be a presentation piece. Not to mention, it is a success story that I can tell to aspiring numismatists to help encourage them to pursue this excellent hobby! This may be the only graded example at either NGC or PCGS in either details or straight grade.