Written by Antonio Alejandro Piccolo

We continue our review of some of the most important gold coins featured in our Auction 9 – Salmoiraghi Collection, which will take place on March 23rd.

After analyzing the two superb 5-guinea specimens—one minted under William and Mary (Lot 291) and the other by William alone during his years of widowhood (Lot 292)—we now turn our attention to two more British coins of the same denomination, but issued by a different monarch.

The 5 guineas of George II, minted in 1741 and 1746

In lot 299 and 300, we find two more 5-guinea pieces, minted during the reign of George II (1727-1760) in the years 1741 and 1746, respectively.

Auction 9 – Salmoiraghi Collection, Lot 299, United Kingdom George II (1727-1760) 5 Guineas 1741 – SPINK 3663A AU (g 41,93) RR

These two specimens further confirm what we mentioned in the previous post—the typological attention pursued by the collector. Each of the two pieces features a different portrait of the same monarch: the 1741 coin depicts a younger George II, while the 1746 coin shows him at an older age, thus representing both official portraits of the king.

The 5-guinea coins of George II were minted over eight different years, the first being 1729, which is known in three variants. One of these bears an intriguing inscription beneath the king’s bust: E.I.C., which stands for East India Company. The gold used to strike these coins was indeed supplied by the East India Company.

As we previously observed with the 5-guinea coin in Lot 291, which features the Elephant and Castle symbol, British coinage from this legendary era—populated by privateers and pirates—often indicated the origin of the metal used for minting.

And Lot 300 is no exception! Beneath the king’s bust, we find the LIMA mark, also present on silver denominations of the same reign.

Auction 9 – Salmoiraghi Collection, Lot, United Kingdom George II (1727-1760) 5 Guineas 1746 Lima – SPINK 3665 AU (g 41,81) R Cleaned

The LIMA Mark and the Origin of the Metal

In a book on English coinage published in 1762, Thomas Snelling wrote that the precious metal used for minting coins with the LIMA mark was obtained through the privateering raids of George Anson.

In June 1743, Anson captured the Nuestra Señora de Covadonga, a Spanish ship traveling from South America to the Philippines. The vessel carried 1,313,843 pieces of eight (reales) in silver, but contemporary accounts make no mention of gold. Additionally, we know that Anson took his loot to Macao, where he sold the cargo to the Chinese, making it highly unlikely that this was the source of the gold and silver used for coins bearing the LIMA inscription.

In 1745, two British privateers, James Talbot and John Morecock, leading a fleet of ships directly financed by the inner circle of the British monarchy, seized another massive treasure of silver coins from two French ships originating from Peru in the North Atlantic.

The loot was unloaded in Bristol, where it was loaded onto a convoy of 45 wagons and transported to the Tower of London, home of the Royal Mint.

Although no documentation mentions gold in this case either, it is highly likely that this was the source of the metal used to mint the 1746 LIMA 5-guinea coins. Unlike silver, the amount of gold in the captured treasure was likely so small that it was not widely reported in the press at the time. The scarcity of known surviving examples of this coin strongly supports this hypothesis.

According to “The Rarity of Five Guinea Pieces – An Analysis”, published in the preface to the Samuel King Collection of Highly Important English Gold, a 45-year survey (from 1960 to 2005) of sales records and auction catalogs identified only 105 known examples of the 1746 LIMA 5-guinea coin in commerce.

To celebrate the success of the two British privateers, a magnificent commemorative medallion was also issued. The obverse depicts the capture of the French treasure ships, while the reverse features portraits of Talbot and Morecock, along with a procession of wagons loaded with treasure beneath them.

Read also:

• The article about The Elephant and Castle 5 ghinee e ghinea
• Browse the catalogue of Auction 9 – Salmoiraghi Collection