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HANOVER. George III. 1760-1820. AR Dollar. Struck 1797. Oval countermark of George III on a Lima mint pillar type 8 Reales dated 1795 (LIMÆ) IJ 8 Reales. Bull 1858; ESC 133; SCBC 3765A. Iridescent toning with underlying luster. In NGC encapsulation 8409906-015, graded MS 62, c/s: UNC Strong.
In the late 18th century, the circulating coinage in Britain was in a pathetic state. Counterfeit coins, both in copper and silver, were the rule, rather than the exception. The Royal mint, rather than competing with the flood of false issues, simply shut its doors.
In 1788, industrialist Matthew Boulton stepped in to attempt to reform the copper coinage where the government would not. A wealthy industrialist and partner of the steam-engine inventor James Watt, Boulton had made his fortune manufacturing other small metallic objects. Using the steam technology at his disposal, he created the first modern mint at Soho in Birmingham. Yet Boulton was initially unable to obtain a patent to strike coinage and instead opened his mint to merchants. The vast majority of provincial tokens struck in England at this time originated from the Soho mint.
Meanwhile, the Bank of England endeavored to stabilize the silver coinage. Taking Spanish eight reales coins, they stamped on them a small image of King George, valuing them at a dollar of five shillings. This simple solution did not fare well with the public, as they were extremely easy to counterfeit. The failed issue spawned a popular nursery rhyme, “The Bank to make their Spanish dollars pass/Stamped the head of a fool on the head of an ass.” The Bank soon turned to Boulton and his steam presses. By 1805, fully struck dollars from the Soho mint could be seen in change.
The final winners of all Triton XXIX lots will be determined at the live public sale that will be held on 13-14 January 2026.
Triton XXIX – Session Four – Lot 920-1141 will be held Wednesday afternoon, 14 January 2026 beginning at 2:00 PM ET.
Winning bids are subject to a 22.5% buyer's fee for bids placed on this website and 25% for all others.
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