MD123 - George I (1714-1727),
Shilling 1723 SSC, laureate head of George right, GEORGIVS D G M BR FR ET
HIB REX F D , rev., four crowned shields with the arms of Great
Britain, France, Hanover and Ireland in the form of a cross, scepters in
between, a Garter Star in the centre, 1723, BRVN ET L DVX S R I A TH
ET EL, SS C in the angles, (ESC 1176: S.3647), toned, all extremely
fine. $395 SOLD
The SS C on the reverse of this coin is a
reference to the South Sea Company that supplied the bullion for this issue
to the mint. Established in 1711 with exclusive rights for trade with South
America the company took on Public Debt in return for its monopoly.
Widespread speculation in the companies shares led to the famous 'South Sea
Bubble" with shares rising as high as £1000. The bubble eventually burst and
caused widespread economic distress.
