James III silver "The Only Safeguard" Medal 1721 UNC Details (Obverse Scratched) NGC, MI-454-63, Eimer-493. 47mm. By O. Hamerani. Just a handful of scratches visible on the obverse, easily overlooked in light of the rarity of this type. Well struck and exhibiting attractive polychromatic tone. Accompanied by old auction tag. The South Sea Bubble of 1720, involving the collapse of the South Sea Company's stock, severely undermined public confidence in King George I's government due to perceived government complicity or negligence in the speculative scheme. The financial crisis caused widespread ruin among investors, leading to public outrage and political unrest, with investigations implicating several high-ranking officials. This turmoil provided an opportunity for George I's opponents, notably the Jacobites, to exploit public dissatisfaction, significantly weakening the king's position and emboldening his detractors. HID09801242017 © 2023 Heritage Auctions | All Rights Reserved

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