STUART (ORANGE). William III & Mary. 1688-1694. AV 5 Guineas. Dated 1693 Elephant & Castle. Second busts. Bull, Gold 351; SCBC 3423. In NGC encapsulation 6917299-003, graded AU Details, obv spot removed.
From the Drewry Family Collection. Ex Bowers & Merena (17 September 1984), lot 5025.
In 1660, the Royal African Company was given a monopoly of English trade in West Africa with the particular aim of exploiting the gold fields of the upper Gambia River. Coins were struck at the Royal Mint with gold from these endeavors, bearing the Company’s badge of an elephant and castle (sometimes an elephant only) under the effigy of the monarch. Initially these issues were so plentiful that the new milled gold issues were given the popular name Guinea. After 1689, the Company lost it’s monopoly and in the 18th Century elephant and castle coins were issued more infrequently. The Royal Africa Company was dissolved in 1752.
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