James II (1685-88), silver Crown, 1687 TERTIO, second laureate and draped bust left, legend and toothed border surrounding, IACOBVS. II. DEI. GRATIA, rev. crowned cruciform shields, seven strings to Irish harp, garter star at centre, date either side of top crown, MAG. BR. FRA. ET. HIB REX., edge inscribed in raised letters, +.DECVS. ET. TVTAMEN. . ANNO. REGNI. TERTIO.+, 29.79g (Bull 743; ESC 78; S.3407). Unevenly toned with haymarking evident both sides, weakly struck at top and bottom of both sides as usual with some adjustment marks in the obverse field, graded by NGC as MS61.

NGC Certification 6674855-009

A major influx of silver came into the mint for coinage during 1687, as a successful sea salvage operation of a treasure from the Spanish ship the Nuestra Señora de la Concepcion had occurred off the East Coast of North America. Remarkable in that the ship had sank some forty years before and had broken up over the Ambrosia Bank Shoal. William Phips was in charge of the successful recovery and delivery of some 25 tonnes of silver, which was made to the Mint in June 1687. Two commemorative medallions were produced in connection with the event, the "Silver Shoals" medal depicting on the reverse the wrecked hull of the ship and the salvagers approaching, and a second medal depicting Lord Albemarle whose Treasure hunting company had financed the expedition, with Neptune on the reverse. Perhaps this is why much of the silver coinage of James II often shows haymarking and flaws, as the silver used had been immersed in saltwater for some 40 years before refining, annealing, and striking.

The coins were also rushed in their production as 25 tonnes of silver amounting to £205,536 of coin, was to be processed making weaknesses prevalent across the larger denominations. This input from the salvage was four fifths of the silver output in coin for 1687.

Provenance:
Ex St. James’s Auctions, Auction 2, 11th May 2005, lot 200.
Ex A. H. Baldwin & Sons, retail stock, purchased 10th December 2008.

Estimate: £ 2200 - 2600